¡¶International Investment Express¡·
work makes headway
The organizing committee of CIFIT has made
much headway in the preparatory work for the
7th session of CIFIT.
A growing number of exhibition booths have been
confirmed and the decoration and layout of the
exhibition pavilions will soon be initiated,
noted Huang Heming, vice-director the operational
department of CIFIT's organizing committee.
The organizing committee had confirmed 185 booths
of the overseas pavilion by July 25; 33 booths
of the investment service pavilion and 208 booths
of the renowned enterprise pavilion.
The organizing committee sets aside two pavilions
of more than 600 booths for CIFIT's members.
Enterprises from 32 countries and regions worldwide
including the United Kingdom, Canada, the United
States, Japan, France, Germany, Mexico, Egypt,
Australia, Sweden, Iran, United Arab Emirates,
Turkey, Caribbean countries, Hong Kong and Macao
have confirmed to visit the fair.
And 67 overseas delegations from some 40 countries
and regions globally including the United Kingdom,
Canada, France, Denmark, Sweden, Singapore,
Indonesia, Hong Kong and Macao, will be present
at the fair.
The organizing committee has sent 12,000 invitations
by post, 15,000 invitations by E-mail and another
5,000 by fax.
Owing to the SARS epidemic in China in the first
few months of this year, the preparatory work
has been much delayed, he said.
The SARS epidemic has been well controlled,
visiting CIFIT will be safe and sound, he said,
aiming to mitigate the worry of some exhibitors
who are still holding a ``wait-and-see'' attitude
and have not yet made their decision to attend
Project matchmaking will be a spotlight at the
event, he said, the organizing committee will
manage to create an excellent platform for the
matchmaking during the fair.
The organizing committee has selected 500 projects,
which have been released online. And the organizing
committee has received applications for project
matchmaking from some 150 foreign business people.
The initial achievement thus far has laid a
solid foundation for a successful fair, he said.
Nevertheless, the organizing committee will
gear up to promote the fair at home and abroad
and to invite even more exhibitors, VIP guests
and professional visitors.
The organizing committee has also stepped up
to carry out the fairground preparatory work
ranging from facility preparation and modulation,
guest entertainment, fairground security as
well as other logistics involved.
According to the official, the organizing committee
has held press conferences on the preparation
for the 7th session of CIFIT in Beijing, Hong
Another press conference will soon be held in
Fuzhou, capital of East China's Fujian Province.
Similar events will be possibly be organized
in Guangzhou and Dalian in August.
And related commercials have also been initiated
via TV, print media and Internet in the mainland,
Hong Kong, Taiwan as well as in other countries
and regions abroad.
HU MEIDONG and DUAN RUOLAN
To further propel its name to the world, organizers
of the China International Fair for Investment and
Trade (CIFIT) held promotional symposium for its 7th
session in Shanghai on July 29 and in Fuzhou, the
capital city of Fujian province, on August 4 respectively.
Preparation for the fair is well on the track and
the port city of Xiamen in East China's Fujian Province
is ready to accommodate participants from around the
globe, according to information released on the symposiums.
With still one month ahead, all the over 600 exhibition
booths in the Provincial Project Pavilion which offers
space for exhibitors from provinces, autonomous regions
and municipalities directly under the central government,
have been reserved, said Xiamen vice mayor Huang Ling.
Nearly 70 governmental organizations from such countries
as Canada, the United Kingdom, Denmark, France, Switzerland,
Egypt and Japan have confirmed to attend the festival.
So far, a total of 116 overseas investors have replied
to attend the match-making symposium, one of the some
30 symposiums to be carried out in CIFIT.
Being China's only national-level international investment
promotion event, the annual CIFIT plays an important
role in alluring foreign direct investment (FDI).
In the sixth session, participants from 96 counties
and regions attended the fair.
CIFIT is sponsored by the Ministry of Commerce and
organized by Fujian Provincial Government, Xiamen
Municipal Government and the promotion Affairs Bureau
of Ministry of Commerce with the assistance of the
United Nations Conference on Trade and Development
(UNCTAD) and the World Association of Investment and
Promotion Agencies (WAIPA).
This 7th session will set up specialized pavilions
for provincial projects, overseas programmes, investment
services and famous-brand enterprises.
Confident in CIFIT, multinational companies, including
Canon, Kodak and Panasonic remains their participation
to the seventh session.
Moreover, Volvo Cars, being a newcomer to CIFIT, shows
great interest by booking 300 square metres of booths.
The seventh CIFIT is becoming a focus through the
International Investment Forum and an additional more
than 30 high-level specialized symposiums.
Celebrated politicians, economists and entrepreneurs
from home and abroad will deliver speeches on the
International Investment Forum.
The over 30 specialized seminars will cover such topics
as logistics, capital and fund operation, regional
economic co-operation, transnational mergers and investment
risk hinders investment
Bio-pharmaceutical sector has seen sluggish
growth in recent years due to lack of investment.
The sector received only US$6 million investment
in the first half of 2002, well behind the investment
in other sectors, say, the IT sector receiving
US$54 million, Communications sector US$67.5
million and the new material sector US$12 million,
The lack of investment in bio-pharmaceutical
sector is mainly due to high investment risk
caused by the uncertainties of traditional Chinese
medicine's (TCM) modernization drive and the
long cycle of fund circulation, business insiders
Chinese Government has promoted the modernization
drive of traditional Chinese medicine in recent
years. However, the drive is still in its very
initial phase and has a long way to go.
The uncertainty of the TCM reform has intimidated
Most of the pharmaceutical companies which badly
need money are emerging small and medium-sized
companies. However, the small companies always
have low profit rate which means the investment
risk is relatively high.
Furthermore, the research and development period
of traditional Chinese medicine is as long as
10 to 18 years including the periods of lab
research, industrial producing and clinic experiment.
The current theories have failed to explain
the mechanism and nature of traditional medicines,
said He Jian, chief bio-technology officer with
the China Resources Logic Limited, a Hong Kong-listed
And the huge gap between TCM and Western medicine
becomes a barrier of the inflow of overseas
investment, he said.
The stocks of listed TCM pharmaceutical companies
have a relatively lower prices than those of
Western chemical pharmaceutical companies, which
also lowers attraction towards investors.
Domestic venture capital investment companies
always put profit stability as their top priority
as they choose investment beneficial companies,
said Peng Yingguo, secretary-general with the
Guangdong Venture Capital Investment Promotion
Many investment companies would like to seek
short-period projects which can shorten the
cycle of fund circulation. Governmental institutions
often regard the fund increment rate as top
criteria to judge the performance of investment
companies, Peng said.
However, bio-pharmaceutical sector is a long
cycle sector which requires huge investment
and long period, Peng said.
The three institutions, including International Monetary
Fund (IMF), Organization for Economic Co-operation
and Development (OECD) and Asian Development Bank
(ADB), all reckoned that the influence of SARS to
Chinese economics was temporary and the investment
environment would not change.
A senior economist with OECD predicted that the increasing
rate of foreign capital flowing into China would stand
at 10 per cent or above because of the great attraction
to the foreign capital.
A chief economist with ADB said the finance problems,
particularly the revolutionary of the bank system
and the improper loan was the key problem in China.
He said various elements, including steady macropolicy,
large trade surplus, abundant foreign exchange repertory,
and strong infrastructure construction, support foreign
investment to flow into Chinese market.
East China's Fujian-based Xiamen Overseas Chinese
Union (XOCU) has been working hard on the invitation
work, with the advantages of broader overseas contacting
nets, for the 7th China International Fair for Investment
& Trade (CIFIT).
Till now, the union has sent nearly 200 letters abroad
through faxes and letters as well as e-mails, covering
the principals with the important business associations
from 26 countries and regions. The replies have been
received in succession recently.
The chairman named Chen Lianhe with XOCU will visit
Indonesia and Brunei late July¡ê with a face-to-face
introduction of CIFIT for the leader of the local
signed contracts at the 6th China International
Fair for Investment and Trade
Special scheme for the
talents with the International Investment Express
Objectives and meanings
(1) carrying out the promotions of the talent
projects, the pioneering projects done by people
studying abroad, forums for human resources
as well as recruitment fairs for the senior
talents through offering opportunities for the
talents and enterprises from home and abroad
for the China International Fair for Investment
(2) combining the promotions with the theme
of the fair tightly, taking the triangle businesses,
cultures, geography and environments of "Xiamen,
Zhangzhou, Quanzhou'' as background, further
developing the space for human resources, exploding
the geographical barriers among the talents,
attracting more and more senior talents from
other provinces and overseas to work in Min
(Fujian) or serve for Min (Fujian),
(3) focusing on the implementation of "projects-driven
strategy'' lodged by the 16th National People's
Congress, the provincial committee and government,
promoting the spirits for the co-ordinated development
with the "three strategic paths'' (meaning:
Fujian coastal and mountainous regions, Fujian
and other provinces, Fujian and overseas) and
4) building a platform to attract talents to
develop key projects in Fujian Province, sparing
no efforts to build up a mechanism for the pioneering
work with the model of "talent-project-capital."