According to the event's organizing committee, participants signed 832 agreements involving US$7.92 billion in investment, an increase of 31.5 percent over last year.

Sino-foreign contracts were valued at US$6.285 billion, making up 84.73 percent of the total and nearly doubling the number from last year's gathering.

"Overseas investors appreciated the rich talent resources, high levels of scientific and technological research and strong market potential in China," Xu Guanhua, minister of science and technology, said of the week.

A number of overseas companies turned their attention to China's relatively underdeveloped western areas.

The Inner Mongolia Autonomous Region, Shaanxi Province and Jiuquan of Gansu Province all found foreign investors for infrastructure construction and projects in bio-agriculture, environmental protection and tourism.

Delegations from other parts of China signed 676 agreements worth US$3.193 billion, accounting for 43.1 percent of the business done during the high-tech week,.

"The international high-tech event provided a platform for them, especially those from the remote areas, to present their unique advantages to the world and seek for suitable business partners," explained Zhang Mao, Beijing's vice-mayor.

At the end of the week, organizers announced the event will take on a new name beginning next year - China (Beijing) International Sci-Tech Fair. Starting next year, it will be held in the third week of May.

(China Daily 05/16/2001)