Visitors look at products during the 24th China International Fair for Investment and Trade in Xiamen, Fujian province. HU MEIDONG/CHINA DAILY

The 24th China International Fair for Investment and Trade (CIFIT) was held successfully in Xiamen, East China's Fujian province, from Sept 8 to 11, drawing visitors from 119 countries and regions, of which about 80 percent were Belt and Road partner countries.

CIFIT made clear that Belt and Road partner countries are becoming new hotspots for Chinese investment, with both Chinese companies and Belt and Road partner countries benefiting from the two-way investment fostered by the Belt and Road Initiative (BRI).

The BRI has delivered substantial benefits to numerous countries. According to the latest data, China's direct investment in Hungary reached a historic high in 2023, with China accounting for a significant proportion of Hungary's foreign direct investment.

Chinese companies have invested in various sectors in Hungary, including automotive manufacturing, electronics, and logistics, which has brought advanced technology and management expertise to Hungary, significantly boosting employment and technological progress in the country.

Additionally, to seize the opportunities brough about by the high-quality development of the BRI, financial institutions are working to facilitate capital flows, expand investment and financing channels, and smooth investments in relevant countries and regions.

Lin Jingzhen, vice-president of the Bank of China, mentioned that the bank's overseas institutions now cover 44 Belt and Road partner countries, and it will continue consolidating and expanding its global presence.

China is at a critical stage in its economic transformation, and Belt and Road cooperation helps accelerate the new development of a dual-circulation development pattern. By participating in the BRI, China and Belt and Road partner countries are enhancing industrial complementarity, facilitating the upgrading of industrial structures, and expediting industrialization and modernization efforts for both sides.