Global companies tap into China’s market

As China’s economy rebounds following its optimized COVID-19 response, global companies are eyeing the upcoming third China International Consumer Products Expo (CICPE) as a platform to gallop into the market.

This year’s CICPE is scheduled to be held from April 10 to 15 in Haikou, the capital city of south China’s tropical island province of Hainan.

Preparations including exhibitor recruitment, sponsor recruitment, and tender arrangements for the expo have already concluded, pooling more high-end consumer brands from home and abroad, said Ji Guohui with Hainan Provincial Bureau of International Economic Development at a Thursday press briefing.

The total area of this year’s expo will reach 100,000 square meters, with the international exhibition area covering 80,000 square meters.

“A slew of global purchasing agents are expecting to explore their markets in China and seek new orders via the event,” said Ji, adding that they will lead delegations to carry out face-to-face promotion.

Data shows over 80 percent of exhibitors who participated in the first two events expressed interest in the upcoming expo.

Spain, Italy, and Poland will participate in the expo for the first time. Exhibitors from France, Germany, the United States, Japan, the Republic of Korea, and RCEP member countries have also registered.

Volkswagen Group will display its premium brands Bently, Porsche, Lamborghini, and Ducati at the exhibition, said Ye Jun, senior director of Volkswagen Group China Government Affairs. The company was the first global car company that entered and deepened its presence in the Chinese market, Ye added.

“We have a strong product lineup in China, such as Audi and Porsche, and we hope to continue expanding our product lineup, taking advantage of new technologies and developing new products,” said Oliver Blume, chairman of the Board of Management of Volkswagen AG, told Xinhua in a recent interview.

Co-hosted by China’s Ministry of Commerce and the Hainan provincial government, the expo will also host a legion of events to promote the master plan of building Hainan into a globally influential and high-level free trade port by the middle of the century.

The master plan also lays out a blueprint for the island province to build itself into an international tourism and consumption center.

“Tapestry has continued to further cooperation in Hainan by attending the consumer expo and opening new stores, and with the construction of the Hainan Free Trade Port, both the vigorous momentum and its improving business environment have propelled us to do so,” said Charlie Hou, senior director of travel retail of Tapestry (Hainan) Group Co., Ltd.

This year’s consumer expo will serve as a platform to optimize consumer supply, smooth consumer channels, boost consumer confidence, and shore up the dual-cycle development architecture with the domestic cycle as the mainstay and with domestic and international development reinforcing each other, said Ji.

Originally published by Xinhua