Xiamen Photo: CFP

The 23rd China International Fair for Investment and Trade (CIFIT) is to kick off in Xiamen, East China's Fujian Province from September 8 to 11, aiming to facilitate more business opportunities for both Chinese and overseas companies.

Brazil, Serbia and Qatar will be the three guests of honor of the 2023 CIFIT. About 1,000 business groups and about 80,000 business personnel from nearly 100 countries and regions are estimated to attend the fair, Assistant Commerce Minister Chen Chunjiang said during a press conference on Tuesday.

The 2023 CIFIT will hold important business forums on enhancing communication between Chinese provinces and states of the US and Brazil, respectively, the official said.

Brazil is China's largest trade partner in South America, and China has been Brazil's largest trade partner for 14 consecutive years. During the forum, business institutions, financial institutions and experts from the both sides will try to facilitate provincial and state level cooperation between the two countries.

The CIFIT also vowed to enhance cooperation among companies in Chinese mainland and the Taiwan island by holding special business events. Wang Jinfu, official from Fujian government revealed at the press conference that Fujian is building the province into the top investment destination for Taiwan-based companies.

In 2022, trade volume between Fujian and Taiwan reached 103.67 billion yuan ($14.32 billion), and the export value to the island saw 22.9 percent year-on-year increase. In the first half of 2023, the number of company from Taiwan island in the province surpassed 12,000 with over $32.1 billion of inbound investment, MOFCOM data showed.

"CIFIT plays an important role in the communication between companies in Chinese mainland and the Taiwan island, and nearly 300 companies from Taiwan are estimated to attend related event at the fair," said Wang.

Global Times