People visit the booth of Bloomage Biotech at the fourth China International Consumer Products Expo (CICPE) in Haikou, capital city of south China's Hainan Province, April 15, 2024. Lasting from April 13 to 18, the expo themed "Share Open Opportunities, Co-create a Better Life" hosts over 4,000 brands from 71 countries and regions, showcasing their novel and upmarket products for global consumers. (Xinhua/Yang Guanyu)
BEIJING, April 18 (Xinhua) -- The fourth China International Consumer Products Expo (CICPE), one of the largest consumer products expos in the Asia-Pacific region, is underway in Haikou, the capital city of southern China's island province of Hainan, reported Shanghai Securities News.
The expo has attracted an increasing number of exhibitors and visitors to carry out business cooperation and share opportunities, showcasing China's vibrant extra-large-scale consumer market to the world.
-- Platform for exhibition and trade
The fourth CICPE is the first national major exhibition held in China this year, with breakthroughs in exhibition scale and the number of participating brands.
Covering an indoor exhibition area of 128,000 square meters, the expo has attracted over ten purchasing groups from countries and regions including the United Kingdom, Singapore, the Republic of Korea, and Japan, and more than 4,000 brands from 71 countries and regions to participate in the event.
The exhibition area has reached a new record, said Hu Tao, chairman of Pacific Alpaca, adding that with the expanded booth area, the company expects to learn about more cutting-edge industry trends and utilize the platform provided by the expo.
Chen Huaiyu, vice governor of China's Hainan Province, previously said that the expo is committed to the principles of "marketization, internationalization, specialization, and digitalization" and strives to achieve the goals of "green, efficient, high-quality, and excellent." The expo has attracted more than 55,000 purchasers and professional visitors this year, Chen added.
-- New consumption trend
During the expo, exhibitors from home and abroad have brought new consumer products, showing a new consumption trend in intelligence and sustainability.
Koninklijke Philips N.V. made its debut this year, presenting new products such as the limited edition shaver for the Year of the Dragon. Meanwhile, German company Karcher has launched a full-scenario lithium battery platform and the world's first lithium battery fabric washer vacuum at the expo, highlighting the trend of intelligent consumption.
The "China-chic" consumption is another highlight. Seven ceramic companies from Jingdezhen City, east China's Jiangxi Province, were organized to debut new products at the expo.
According to Luo Xiaoyun, operation director of OGAWA, people have a strong interest in "New Chinese Style" clothing, Chinoiserie products, and etc., and the company is optimistic about the growth potential of "China-chic" consumption in the future.
Furthermore, sports and leisure consumption has emerged as another new trend.
The sailboats and yachts exhibition area is located at the public dock of the west coast in Haikou, and various activities such as boat boarding, RV camping, and water sports will also be held during the expo, said Tang Hua, head of Hainan Provincial Bureau of International Economic Development.
-- Signal of expanded opening-up
The expo showcases the acceleration of Hainan Free Trade Port's development towards an export-oriented economy, demonstrating China's confidence in expanding high-standard opening-up.
Hainan continues to attract investment through the expo. Xu Xingfeng, director general of the Department of Market Operation and Consumption Promotion, the Ministry of Commerce, said that the successful host of previous sessions of the expo has brought some key exhibitors to invest in or establish factories in Hainan, set their Asia-Pacific or China headquarters in Hainan, or set up flagship stores for well-known brands.
Over the past five years, Hainan's actual utilization of foreign investment has grown at an average annual rate of 46 percent, and the export-oriented economy has become an essential pillar of the Hainan Free Trade Port's economic development.
The expo also conveys China's message of expanding opening-up. The Ministry of Commerce hosted a roundtable for foreign-funded consumer goods companies on April 13 in Haikou, with 15 foreign-funded companies, including Blackmores, Danone, and DFS, participating in the conference.
At the conference, Vice Minister of Commerce Sheng Qiuping said that China welcomes multinational companies to actively invest in the country and achieve mutual benefit and prosperity.
(Edited by Yang Linlin with Xinhua Silk Road, linlinyanglyn@163.com)
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