CHENGDU, China, Nov. 28, 2016 /PRNewswire/ -- The Western China International Fair, which has been hosted 16 times in Chengdu, has become a platform for international communication and cooperation. This year's fair, which held its opening ceremony on November 3 and ended on November 14, organized 75 events related to investment promotion and trade cooperation. Regions from Sichuan province, of which Chengdu is the capital, signed deals for 836 projects at the 2016 fair with total investment valued at some 657.25 billion yuan ($96.32 billion).
Jeong Hyeon-jun, a representative from the Korea Business Incubation Association, said that the association and South Korean exhibitors appreciated that the fair provided them with such a platform, where they found South Korean products were popular in China. Amanda Koh from Malaysian CocoScience Co said the company thanked the fair for the considerate services it provided before and during the event. Cathy Lee, a black tea exhibitor from Sri Lanka, said: "We feel the fair has become more and more international and the conference and exhibition environment is satisfying."
The fair, held in western China's Chengdu, is not inferior to those in Beijing and East China, Lee said.
The Chengdu Investment Presentation and International Cooperation Zone Project matchmaking event, hosted in the Tianfu New City Convention Center on November 2, was regarded as a highlight of the fair. The presentation and matchmaking activity saw the signing of 19 agreements worth 158.63 billion yuan, the fair's organizers said.
In one of the thirteen project investment deals struck, Siemens will help Beijing-headquartered BOE Technology Group Co., a supplier of internet-of-things technology, products and services, to upgrade and reform production lines with total investment valued at 1 billion yuan.
Six strategic cooperation agreements involving 115 billion yuan included one for an industry fund focusing on Sino-Germany (Chengdu) innovation cooperation.
The fair invited foreign and domestic companies to learn about the economic and social development of Chengdu and potential opportunities in the city. The companies also discussed cooperation with businesses and industry associations from Chengdu.
Local officials said the fair aimed to help Chengdu become a regional hub of the economy, science and technology, cultural creativity, foreign contact and comprehensive transport in western China.
The first phase of the 11th EU-China Business and Technology Cooperation Fair, another important event at the Western China International Fair, was held from November 2 - 6 in the Chengdu Hi-tech Industrial Development Zone. Its second phase took place from November 6 - 8 in Qingdao.
Statistics showed that the first phase saw more than 150 companies from 14 European countries and more than 400 Chinese enterprises engage in more than 800 matchmaking talks.
SOURCE China Council For the Promotion of International Trade Chengdu Sub-council