China's direct outbound investment will exceed US$60 billion by 2010, said Assistant Minister of Commerce Chen Jian in Beijing on Monday.

Chen made the remarks at the press conference on the 11th China International Investment Forum scheduled to kick off in September in Xiamen, southeast China's Fujian Province.

He said nearly 100,000 overseas businessmen from 144 countries and regions have participated in the forum over the past decade and a total of 13,000 contracts have been inked.

Chen said the annual event would continue to be a platform for international investment cooperation and a series of symposiums and conferences will be held to encourage domestic enterprises to invest overseas.

The ministry would also invite overseas governmental institutions, trade associations and enterprises to take part in the forum, said Chen.

Ye Shuanyu, vice governor of Fujian, said the preparations for the forum are going on smoothly. A total of 31 countries and several UN organizations have signed up for the event.

(Xinhua News Agency June 5, 2007)