Xiamen signs 41 project deals on opening day of 2020 CIFIT
Xiamen signed 41 municipal-level project deals on Sept 8, the opening day of the 2020 China International Fair for Investment & Trade (CIFIT), which is taking place in the coastal city of Fujian province until Sept 11.
The projects, which will receive a record 92.53 billion yuan ($13.41 billion) in investment, include 10 foreign-funded ones with a total investment of 16.65 billion yuan and 31 domestic-funded ones with a total investment of 75.88 billion yuan.
The projects involve high-end service industries such as software and information technology, modern logistics, finance, medi-care, and communication and media, as well as modern manufacturing industries, including artificial intelligence, flat-panel display, integrated circuit, as well as new energy and materials.
Twenty-one projects will receive investments of 1 billion yuan and more. Twelve are regional headquarters projects.
Meituan-Dianping, the country's largest on-demand service platform, plans to spend 3 billion yuan to build a southeastern operation headquarters for intelligent transportation in Xiamen. The project comprises an intelligent parking system, a shared bicycle and bus system, a metro platform, a ride-hailing platform and an intercity transportation platform.
According to the municipal authorities, the city has signed 8,446 project deals with a total investment of 2.78 trillion yuan by the end of August since a municipal investment promotion conference was held on April 29, 2019.
Xiamen has become a hotbed for business and investment due to its sound business environment and dynamic economic growth.
Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.