The 24th China Lanzhou Investment and Trade Fair sees fruitful results

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LANZHOU, China, July 10, 2018 /PRNewswire/ -- The 24th China Lanzhou Investment and Trade Fair closed Monday in Lanzhou, capital of northwestern province of Gansu, with fruitful results.

With a theme of green development along the Silk Road, the fair attracted guests from 42 countries and international organizations along the Belt and Road Initiative, with Singapore and the Republic of Korea acting as guests of honor.

The fair highlights integration of green development and feature sector, and was co-organized by the Ministry of Commerce, the State Administration for Market Regulation, Taiwan Affairs Office of the State Council, All-China Federation of Industry and Commerce, All-China Federation of Returned Overseas Chinese, China Council for the Promotion of International Trade and Gansu Provincial People's Government.

An agreement signing ceremony was held during the closing ceremony including projects of cloud data center, organic recycling agriculture, airport e-commerce logistics park and cultural tourism. Lanzhou signed a total of 109 projects worth 79.075 billion yuan.

Among the projects signed, green industries such as recycling industry, modern agriculture, channel logistics, and eco-tourism have become popular sectors for investment, according to Jia Ning, deputy secretary-general of the Gansu provincial government.

The contract volume of local agricultural products reached 17.53 billion yuan, involving 244 Chinese and foreign enterprises, Jia said, adding that the green ecological industry will help Gansu better integrate with and serve the development of the Belt and Road Initiative and facilitate the rise of green development.

The fair has attracted about 30,000 attendees, with 32 bilateral and multilateral investment and trade events like ecological industry projects match-making meeting, summit on Belt and Road food security, cooperation dialogue on inter-connectivity between Lanzhou, China and Singapore. 

Meanwhile, this year's fair highlights high-quality development with strict project review. Qualified projects must be in line with the current national industrial policy, must be cooperated with investors outside the province and must be a formal contract project that has not been signed before. A total of 471 qualified projects were signed during the fair including many projects with the top 500 global firms and top 500 Chinese firms.

The Lanzhou Investment and Trade Fair was first held in 1993 and is an important platform for opening up in northwest China. It has grown in importance as China accelerates opening-up to central and west Asia under the Belt and Road Initiative.