The festival is jointly sponsored by the China Women and Children Services Development Center, Beijing Office of the United Nations Development Fund for Women and the International Exchange Association of Hainan. It is the first event of its kind ever held in China.

Around 250 successful female entrepreneurs from China and abroad have gathered in the city to attend the festival. They will exchange experiences about their business debuts and seek opportunities for cooperation at the four-day event.

Women are playing an increasingly important role in global economic growth, with more and more succeeding in economic activities, Chen Lanyan, an official from the UN Development Fund for Women, said at the festival's opening ceremony.

There are now nearly 20 million women entrepreneurs in China, according to statistics.

(Xinhua News Agency November 26, 2002)