Trade fair highlights broadened opening-up

President Xi Jinping reiterated on Monday China's firm commitment to expanding high-standard opening-up to inject more positive energy and greater certainty into global development.

Xi made the remarks in a congratulatory message sent to the 25th China International Fair for Investment and Trade, which opened in Xiamen, Fujian province, on Monday.

Xi noted that the CIFIT, with a permanent theme of "Further expanding bilateral investment, jointly facilitating global development", has played a positive role in promoting the building of an open world economy and has become an effective platform for global investors to deepen pragmatic cooperation.

As a major contributor to and anchor of stability for global economic growth, China will unswervingly expand high-standard opening-up and promote the liberalization and facilitation of trade and investment and continue to share its development opportunities with the world, he said.

Xi also expressed the country's willingness to work with all parties to promote universally beneficial and inclusive economic globalization and create a bright future of prosperity and development.

Organized by the Ministry of Commerce, the four-day event has attracted delegations from more than 120 countries and regions. Nearly 100 multinational corporations from sectors including energy, chemicals, agriculture, pharmaceuticals and advanced manufacturing have sent senior executives.

Addressing the opening ceremony of the event, Vice-Premier He Lifeng emphasized the rise of unilateralism and protectionism and the mounting instability and uncertainty in the global economy, which he said have posed new difficulties and challenges for international economic and trade cooperation.

He called for upholding the liberalization and facilitation of global trade and investment, ensuring stable and unimpeded global industrial and supply chains, and maintaining an open and cooperative international environment.

"The fundamentals of the Chinese economy are strong, with many advantages, strong resilience and vast potential. Partnering with China will bring more opportunities," he said, adding that China, with immense consumption potential, will create huge market opportunities for the world.

China boasts the world's largest middle-income group, with per capita GDP of approximately 96,000 yuan ($13,465) in 2024. It is the world's second-largest consumption market and second-largest import market.

Over the years, China has been steadfastly deepening reform on all fronts to build a new system for an open economy. A series of measures on the reform of foreign trade have been introduced in areas including taxation, finance, and trade and investment facilitation.

Since 2017, the total number of items on the negative list of restricted sectors for foreign investment has been reduced from 93 to 29, with all access restrictions for the manufacturing sector removed.

Vice-Minister of Commerce Ling Ji said at the opening ceremony that China is both a major destination for foreign investment and a leading global investor.

By the end of 2024, Chinese enterprises had established more than 50,000 overseas companies in 190 countries and regions, with outbound flows and stock ranking among the world's top three, Ling said, adding that China's outbound direct investment reached $162.8 billion in 2024, up 10.1 percent from the previous year and marking 13 consecutive years in the global top three.

"China's vast market, resilient supply chain and application of emerging technologies show that investing in China is investing in the future," Ling said.

Sovereign wealth funds and international financial institutions are also represented at the event, with more than 70 financial institutions and listed firms participating in the dedicated Financial Capital Zone.

More than 30 matchmaking sessions are scheduled, alongside a high-level multinational roundtable meeting. The exhibitions spotlight frontier industries such as smart robotics, low-altitude aviation and specialized cooperation of small and medium-sized enterprises, while a public road show zone, introduced for the first time, will host more than 100 presentations.

Observers said that against the backdrop of weak global economic momentum, rising trade and investment barriers, and slowing cross-border investment, active participation in the event highlights China's appeal to foreign investors.

Wide participation

The United Kingdom, this year's guest country of honor, has brought its largest-ever delegation, comprising nearly 200 officials, business leaders and industry representatives.

In a congratulatory letter sent to the CIFIT, UK Prime Minister Keir Starmer said Britain is committed to being a "predictable and pragmatic partner" with China, highlighting opportunities for mutual investment.

The American Chamber of Commerce in South China sent a sizable delegation to the fair, with more than 50 US companies participating in industries such as artificial intelligence, infrastructure, consumer goods and renewable energy.

Harley Seyedin, president and chairman of AmCham South China, said that US businesses view the CIFIT as "a proven platform" for exploring new opportunities in China, noting that the CIFIT has generated over $2 billion in contracts annually for the US companies participating in the event.

He added that 76 percent of the chamber's member companies plan to reinvest in China, amounting to $14.5 billion in new projects over the next three to five years, underscoring their long-term confidence despite global headwinds.