(Yicai) July 18 -- The 24th China International Fair for Investment and Trade will focus on two-way investment in the new energy field, making it an important highlight at the event this year.

Nearly 100 overseas guests from 43 countries and regions, including Hungary, Germany, the United States, the United Kingdom, Pakistan, Spain, and Russia, attended the CIFIT promotion meeting yesterday, with Hungary being the guest of honor this year.

The annual CIFIT, which will be held in Xiamen, southeastern Fujian province, from Sept. 8 to 11, is China's only international investment promotion event hosted by the Ministry of Commerce aiming at facilitating bilateral investment.

Battery manufacturing, electric vehicle making, and related parts production are key areas of cooperation between China and Hungary, Péter Várfi, consul general of Hungary in Guangzhou, told Yicai. The European country hopes to build a complete supply chain ecology around EVs, in which Chinese companies play an important role, he added.

Several leading new energy Chinese firms have launched projects in Hungary. BYD announced the construction of its new energy passenger car plant in Szeged, battery giants Contemporary Amperex Technology and Eve Energy built plants in Debrecen, and Sunwoda Electronic opened its first European power battery factory in Nyíregyháza.

The CIFIT will showcase the achievements and investment environment of countries and regions such as China this year, as well as scientific and technological innovations and advanced application scenarios in artificial intelligence, information technology, new energy, new materials, eco-friendliness, biomedicine, and supply chains.

Editor: Martin Kadiev