The event takes place in Xiamen from September 8 to 12 each year. It is the largest investment expo in Asia, and is sponsored by the Ministry of Foreign Trade and Economic Co-operation.

"CIFIT is one of the top brand names from Fujian, which has drawn the attention of the world," said Xi Jinping, governor of Fujian Province. "We must make efforts to foster it into a world famous name."

Last year, the fair attracted more than 10,000 overseas business people, of which 3,200 were from Taiwan. More of them are expected this year.

The East China province has experienced better economic conditions and has made efforts to fully open up to the outside world, the governor said.

Statistics indicate that the province's economy has recovered steadily this year. Fujian's gross domestic product (GDP) reached 195.9 billion yuan (US$23.6 billion) in the first half of this year, up 10.5 per cent from the same period last year. The growth rate hit a record high in the last five years and is 2.7 percentage points higher than the country's average growth rate.

High growth rates in the industries of electronics, telecommunications, energy and transportation have become the major powerhouse of the province's economy. Overseas investment and export volume have continued to increase this year, Xi said.

(China Daily August 23, 2002)