Injecting Confidence

By Ma Miaomiao

Indian businessman Niren Anands first startup in China， namely Xiamen Ever Trade Import and Export Co. Ltd. in the coastal province of Fujian， turns 11 this year. He also has a factory in another Fujian city of Jinjiang， designing and manufacturing products for sports brands such as Lotto and Fila.

Anands company was among the 5，000 businesses from nearly 100 countries and regions flocking to the 21st China International Fair for Investment and Trade （CIFIT） in Xiamen， Fujian， in pursuit of new business opportunities.

The four-day event concluded on September 11 with agreements inked on 512 projects， worth 392 billion yuan （$60.7 billion）. On the fairs sidelines， over 60 seminars， briefings and business conferences took place， focusing on investment opportunities from Belt and Road collaboration， digital and green economies as well as carbon neutrality.

Over the years， CIFIT has played a positive and fruitful role in promoting the two-way investment between China and foreign countries. Zhang Quanjun， President of the China Council for the Promotion of International Trade Xiamen Committee， said.

The Chinese market

The COVID-19 pandemic caused a dramatic fall in global foreign direct investment （FDI） in 2020， dropping 35 percent to $1 trillion， according to the World Investment Report 2021 published by the UN Conference on Trade and Development （UNCTAD）. Nevertheless， FDI growth in China continued， increasing 6 percent to $149 billion last year.

Anand for one believes the near future will have in store greater opportunities for the Chinese market.“We are planning to expand our business in China by launching our own brand by the end of this year，” he said.

“There are new challenges， but this doesnt mean that the confidence in Chinas economic growth will be affected as long as we find ways to get around or solve some of the issues，” Jose Santiago L. Sta. Romana， Philippine Ambassador to China， told Beijing Review.

“Multinational companies at different stages of development can always find opportunities in China， which is perhaps an advantage that no other country can match，”Zhou Bing， Global Vice President of U.S. computer maker Dell， said. Dell decided to land in Xiamen in 1998 during that years CIFIT， marking the beginning of the U.S. enterprises exploration of the Chinese market. Today， Dells research and development institutions in China have contributed nearly one third of its global patents.