Jane Lai

MANY people swarmed to the 2008 China (Shenzhen) International Science & Living Fair (CISLF) during the weekend to learn about financial products displayed by nearly 70 finance institutions.

The 2008 CISLF is being held at the Shenzhen Convention and Exhibition Center from Saturday to Tuesday. Organized by the China Association of Science and Technology and the Shenzhen Municipal Government, the fair features energy saving, ecological preservation, scientific living and health as a collective theme. More than 150 exhibitors are displaying products and services at the fair.

Around 150,000 people visited the fair at the weekend. Almost half the stalls were occupied by finance institutions, an official with the CISLF surnamed Du said. Exhibitors include China Telecom, Huawei, Richall, China CITIC Bank, ICBC and HSBC.

The per-capita GDP in Shenzhen exceeded US$10,000 in 2007, contributing to booming demand for financial investment. Meanwhile, the fall in the stock market has driven many investors away from stocks and shifted their focus to other finance products.

“The current stock market has driven away many investors and we are shifting money to other less-risky financial products promoted by some large banks. Actually we have invested very little money in the stock market since May 30, 2007, when stocks first tumbled in the bullish market,” a woman surnamed Xu, accompanied by her husband, said yesterday.

“We have received a large number of visitors who are interested in our financial products. As RMB service is now allowed at foreign banks, HSBC, one of the world’s top investment banks, is being chosen by many people to help manage money,” an HSBC employee surnamed Fang said yesterday.