China is stepping up efforts to promote two-way investment and deepen global industrial cooperation amid rising geopolitical and economic uncertainties, officials said on Wednesday, as the country unveiled plans for its flagship investment fair later this year.
The 26th China International Fair for Investment and Trade (CIFIT), hosted by the Ministry of Commerce and scheduled for Sept 8 to 11 in Xiamen, Fujian province, will focus on two-way investment, international industrial and supply-chain cooperation, and strategic sectors, officials said at the fair's first promotional event in Beijing.
The event comes as China seeks to stabilize and expand foreign investment while encouraging domestic companies to "go global" in an orderly manner, against a backdrop of slowing global economic recovery and rising geopolitical uncertainty.
Wu Di, deputy director general of the department of foreign investment administration from the Ministry of Commerce, said China attracted more than $750 billion in foreign investment during the 14th Five-Year Plan (2021-25), ranking first among developing countries, while more than 30 percent of this inflow went into high-tech industries.
China has rolled out a series of measures to improve the foreign investment environment, including further shortening its negative list for foreign investment access and fully removing restrictions on foreign investment in the manufacturing sector, Wu said.
