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Preparatory work makes headway

Express staff

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 the fair.
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 Kong, Shanghai.
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.


Campaign garners attention

Express staff

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 environment.

High risk hinders investment

Express staff

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, statistics show.
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 said.
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 investors.
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 technology company.
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 Association.
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 important associations.

Representatives 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 and Trade
(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 "three layers,''
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."

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