An increasing number of overseas businesses are eyeing the lucrative business opportunities of China's market against the backdrop of worldwide economic stagnation.

The 7th Zhejiang Investment and Trade Symposium (ZJITS) and the 4th China International Consumer Goods Fair (CICGF), which kicked off on Wednesday in Ningbo, coastal city of east China's Zhejiang Province, have attracted foreign companies from about 20 countries and regions, including those listed in the world's 500 top businesses, such as Carrefour, Group Auchan and General Electric.

Insiders said that this indicates that more overseas enterprises are pursuing business in China in view of its fast economic growth after the country's entrance to the World Trade Organization (WTO) in 2001.

At the trade fair, overseas businessmen were especially impressed by the diversification, high quality, and stable price of traditional garments, handicrafts and other consumer products, according to sources with the organizing committee.

The France-based retail group Auchan, a global top 10 retail giant, purchased about 80 percent of Auchan's goods from China.

Jean-Pierre Delacroix, deputy general manager of Auchan (Shanghai) International Trading Company Ltd., said: "Chinese products are welcomed because they are of high quality and are reasonably priced. We hope to sell more of China's products to Europe and even the whole world through Auchan's sales channel."

To some overseas companies, commercial opportunities in China also mean to rejuvenate their flagging economic status. And they are paying more attention to China's position in the international market.

At the two trade fairs, Zhejiang Province also hosted the Day of Germany in the hall for the first time. Some German official investment promotion organizations, such as Bremen, Schleswig-Holstein, attended the exhibition for further cooperation.

(Xinhua News Agency June 12, 2005)