"CIFIT has become a real internationalized platform for the release of the latest foreign trade policies," said Xi Jinping, governor of Fujian Province.

The sixth annual CIFIT was the first event to showcase China's latest developments since the country entered the World Trade Organization (WTO) last December.

According to the Organizing Committee, investment from overseas investors totalled US$11.24 billion. The number of contracted projects was 1,151, reaping a total investment of US$6.36 billion, of which overseas investment was US$5.2 billion.

Hot co-operative projects occurred mainly in high-tech industries, real estate and tourism. Investors were mainly from the Hong Kong and Macao special administrative regions and Taiwan Province, it said.

More than 10,000 overseas business people attended the event. Business people from Taiwan totalled 3,394, accounting for 33.58 per cent of the total, while 19.25 per cent came from European countries and the United States.

"Services, which have gradually opened to overseas investors in line with the country's commitment to the WTO, were highlighted during the four-day event," the Organizing Committee said.

Industry experts said stable and coherent foreign trade policies has helped the country sustain its high momentum in attracting overseas investment.

"We will work more actively and effectively to improve our business environment and attract more high-quality foreign direct investment to improve our competitiveness in the years to come," said Shi Guangsheng, minister of the Foreign Trade and Economic Co-operation during the CIFIT.

"We will not only attract overseas investors, but also encourage more domestic enterprises to take an active part in international competition and co-operation," he said.

(China Daily September 12, 2002)