The annual China International Fair for Investment and Trade (CIFIT) opened in the coastal city of Xiamen in South China's Fujian province on Sept 18.

This year's fair follows hot on the heels of the BRICS Summit, which was held in Xiamen on Sept 3-5, and many of the events at the fair will focus on pushing forward economic cooperation and exchanges among the BRICS countries.

The organizers also hope to use the CIFIT as an international platform for promoting investment in the countries and regions involved in the Belt and Road Initiative.

The fair is also hugely important to the economy of Fujian province. Between 2012 and 2015, the fair helped attract $56.2 billion worth of foreign investment to the province, with $35.3 billion of this investment receiving government approval. This accounted for 62.7 percent of the province's total foreign investment during that period.

In 2016, contracts for 298 cooperation projects were signed at the fair, worth a combined $7.8 billion in foreign investment.

The 2017 China International Fair for Investment and Trade opens in the coastal city of Xiamen in South China's Fujian province on Sept 18. [Photo/Xinhua]

The ASEAN Pavilion at the 2017 China International Fair for Investment and Trade in Xiamen, Fujian [Photo/Xinhua]