China's largest high-tech  gathering, the third session of the China High-Tech Fair (CHTF),  yielded a 22 per cent increase in the value of contracts and agreements,  according to its organizers.

    A total of 1,349 contracts and agreements, worth US$10.4 billion,  were inked during the six-day fair, which closed in Shenzhen yesterday.  Of this, high-tech deals take the lion's share to reach US$9.1 billion,  according to today's China Daily.

    Yao Shenhong, an official with the State Development Planning  Commission (SDPC), said China will spare no efforts in developing  its high-tech industry to boost its competitiveness, which will  become a major priority in the context of globalization and China's  imminent entry into the World Trade Organization.

    As a major platform to showcase China's high-tech achievements  and gather talents and investors, CHTF is set to play a larger role  in the growth of the country's high-tech industry, Yao said.

    The fair is organized by the ministries of foreign trade, science  and technology and information industry, SDPC, the Chinese Academy  of Sciences and the Shenzhen municipal government.

    Amid the global economic downturn, China is expected to post  the highest economic growth this year among major economies.

    The strong economic prospect for the coming years has made the  country the brightest spot for international investment.

    This year's fair attracted 1,661 investors from 37 countries  and regions, which was a 27 per cent increase.

    A total of 41 multinational companies, including CISCO, Intel,  Siemens and Canon, took part in the fair.

    The fair also provided an arena for the exchange of up-to-date  information in the high-tech field, featuring high-tech forums and  seminars chaired by world-leading company executives, scholars and  government officials.