China’s Vice-Premier Wang Yang praised the China International Fair for Investment and Trade (CIFIT) for its actions in accordance with the Hangzhou Consensus during his keynote speech at the 2016 International Investment Forum, held at the Xiamen International Conference and Exhibition Center on Sept 8.

The Hangzhou Consensus, reached during the G20 Summit, focuses on facilitating global economic growth through innovative and inclusive long-term measures.

The international fair serves as a platform for governments and multinational companies all over the world to communicate and develop business cooperation, said Wang.

Since it was first held in 1997, the fair upholds the standards of professionalization, marketization and internationalization. In the past 20 years since it was first held, it has attracted 230,000 visitors from more than 150 countries and regions, reaching a total of 3,200 billion yuan ($479.20 billion) of investment, he added.

Wang emphasized that through the opening-up policy, China will seek new business opportunities aboard and also allow more foreign investment into new areas of the economy.