AmCham forges Xiamen ties

THE American Chamber of Commerce in Shanghai yesterday signed an agreement with the China Investment Promotion Agency under the Ministry of Commerce and the China (Xiamen) International Investment Promotion Center to boost business ties.

The partnership will enable Amcham member firms to meet Chinese officials and set up cooperation with local companies. Many of the US firms will attend the 11th edition of the annual China International Fair for Investment & Trade Promotional Symposium to be held in Xiamen, Fujian Province. The four-day fair, held by the commerce ministry, starts on September 8 and features product exhibitions, investment forums and project matchmaking. Thirty-one countries and regions will participate in the event.

China is encouraging foreign-funded companies to invest in sectors including advanced manufacturing, services, research and development and environmental protection.

Foreign direct investment totalled US$31.89 billion in the first half of this year, a jump of 12.17 percent from a year earlier, according to the Ministry of Commerce. The growth accelerated from the 9.87-percent climb in the first five months.

For June alone, FDI jumped 21.91 percent to US$6.63 billion.