Int'l fair opens to boost investment, BRI cooperation

XIAMEN, Sept. 8 (Xinhua) -- The 2020 China International Fair for Investment & Trade (CIFIT) and the Belt and Road Investment Congress opened on Tuesday in Xiamen, east China's Fujian Province, offering opportunities to promote investment and economic cooperation worldwide.

The fair, which has attracted merchants and delegates from 42 countries and regions including Germany, Britain and Japan, is one of the first major international economic and trade events held by China since the COVID-19 outbreak.

The four-day event includes the 2020 Global Investment Forum and nine sideline forums and seminars, and delegates participating in this year's fair will focus on the trend of global investment and the world economy amid the pandemic.

Covering an area of 110,000 square meters, two exhibition pavilions promoting investment and industry are also expected to facilitate investment cooperation among countries and regions along the Belt and Road.

The participants are mainly from international organizations, domestic government agencies, business associations and enterprises, as well as foreign government offices, foreign embassies and consulates in China.

John Paul Inigo, special trade representative of the Philippine Trade and Investment Center, said the Philippines had received an unprecedented accolade as the guest country of honor for two consecutive years.

"Under the increasing connectivity brought by China's Belt and Road Initiative, we are confident that the already-booming trade and investment relationship between the Philippines and China will further grow," Inigo said.

China was the Philippines' top trading partner and the total bilateral trade volume hit 35.3 billion U.S. dollars in 2019.

With the aid of cloud services from China's tech giant Alibaba, an online fair is also being held.

The CIFIT, approved by the State Council, takes place every September in Xiamen and aims to promote two-way trade and investment between China and the world.