CIFIT offers a platform for shared global prosperity

Editor's note: Xin Ge is an associate professor at the School of Public Economics and Administration, Shanghai University of Finance and Economics. The article reflects the author's opinions and not necessarily the views of CGTN.

The China International Fair for Investment and Trade (CIFIT), held annually in Xiamen, east China's Fujian Province, not only promotes high-quality foreign investment in China but also facilitates the country's outbound investments. Focusing on multilateral and bilateral trade partnerships, CIFIT fosters cooperation in critical sectors such as digital transformation, green industries, and emerging technologies.

Th 2024 edition of the fair, themed "Linking the World through Investment," kicked off on September 8. The event aims to strengthen its role as a global hub for two-way investment. The roster of participants includes government bodies, industry groups, and leading multinational companies from over 90 countries and international organizations, eager to explore the evolving investment landscape.

Often dubbed a "barometer" and "compass" of China's outward and inward investment flows, CIFIT offers an unparalleled stage for global engagement. So how will this year's edition stimulate openness and shared investment opportunities?

To start with, CIFIT will highlight China's strategies driving both inbound and outbound investment. A special exhibition area for the 40th anniversary of the national economic and technological development zones is highlighting the nation's efforts to attract foreign investment and its substantial achievements in outbound investments. This will give fair goers an insight into China's evolving trade policies, best practices in global development, and its contributions to international economic cooperation.

Another focus is industrial innovation, which is increasingly central to China's global competitiveness. A sprawling 47,000-square-meter hall features cutting-edge industrial innovations, highlighting areas such as strategic collaborations among BRICS countries, supply chain advancements, new quality productive forces, and green, low-carbon technologies.

The fair's five specialized zones highlight the BRICS new industrial revolution, the digital economy, national supply chain innovation, new energy and green innovation, and international security and legal technology. These zones provide a glimpse into the latest regional investment partnerships, cutting-edge technologies, and trends that will shape the future of industries across the globe.

CIFIT will also strengthen the "Invest in China" brand, promoting new quality productive forces with industries such as artificial intelligence (AI), intelligent manufacturing, life sciences, and green low-carbon technologies. This initiative, offering a diverse array of opportunities, will solidify China's role as a premier destination for global investment.

In a world increasingly concerned about supply chain disruptions, CIFIT has introduced a national supply chain innovation zone for strengthening global supply chain resilience and collaboration. Alongside this, the fifth China Supply Chain Management Annual Conference brings together industry leaders and experts to discuss emerging trends and challenges.

There are innovative formats for business networking and exchange. The fair is pioneering them with an open-stage design in the Project and Capital Docking Hall. It has dedicated zones for niche enterprises, hidden industry champions, and national-level economic and technological development zones, enhancing opportunities for dialogue and cooperation. International small and medium-size enterprises, particularly from Europe, are also participating, connecting with domestic Chinese enterprises, industrial parks, and investors to forge new partnerships and accelerate collaboration.

On the opening day, the third Global Alliance of Special Economic Zones Annual Conference has gathered representatives from the special economic zones of Europe, the Americas, and Africa to promote innovation and sustainable growth in these critical economic hubs.

To enhance the experience of participants, CIFIT has incorporated cutting-edge AI and digital technologies. These tools will bridge the gap between online and offline investment promotion, offering intelligent navigation, AI consulting services, and a seamless blend of virtual and in-person engagement. This digital integration is designed to better meet the diverse needs of both domestic and international participants, ensuring an efficient, personalized, and future-oriented event experience.

As the world increasingly views investing in China as an investment in the future, CIFIT is a window to understand the nuances of China's evolving economic environment. By optimizing its business climate, expanding high-level international cooperation, and unlocking new avenues for mutual growth, China is not only offering its market and development dividends to the world, but also charting a course for shared global prosperity.

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