China to host 23rd China International Trade Fair

China to host 23rd China International Trade Fair

The 23rd China International Trade Fair for Investment and Trade, which will take place in Xiamen, East China's Fujian province, will provide multinational corporations with insights into global investment trends and facilitate their search for fresh growth prospects in China, a senior government official said.

China's assistant minister of commerce, Chen Chunjiang, said Brazil, Serbia, and Qatar will be the guests of honor for the upcoming fair, marking the highest number of guest countries in a single edition.

Currently, nearly 40 senior foreign government officials have confirmed their arrival. The fair's organizers anticipate that representatives from nearly 100 countries and regions, nearly 1,000 trade and business delegations, and about 80,000 participants will take part in the grand event.

Several international organizations, such as the United Nations Conference on Trade and Development and the United Nations Industrial Development Organization, will be in attendance, reflecting an increase in both the quantity and level of participation compared to previous editions, Chen said.

This year's fair covers 120,000 square meters, featuring specialized exhibitions on renowned industries, such as smart manufacturing, digital economy, green and low-carbon technologies, and rural revitalization.

The commerce ministry and other government branches will host a series of events during the fair, focusing on green development in cross-border investment cooperation. These activities aim to actively explore new areas of open collaboration and establish a platform for cross-border investment services for Chinese companies, he said.

In the first week of 2023, China's outbound direct investment is projected to maintain an upward trajectory. The country saw outbound direct investment surge by 18.1 percent to 500.94 billion yuan, or $68.74 billion, during this period, according to data from the Ministry of Commerce.