BUSINESS China Int'l Consumer Products Expo to help promote global economic growth: Egyptian researcher

BUSINESS

China Int'l Consumer Products Expo to help promote global economic growth: Egyptian researcher

yidaiyilu.gov.cn

17:25, July 26, 2022

Aerial photo taken on July 25, 2022 shows the Hainan International Convention and Exhibition Center, the venue for the second China International Consumer Products Expo, in Haikou, south China's Hainan Province. (Photo: Xinhua)

"The exhibition contributes to the growth and recovery of the global economy from the repercussions of the COVID-19 pandemic and enables China to provide more high-quality consumer products to the international business community," said Abu Bakr al-Deeb, advisor to the Cairo-based Arab Center for Research and Studies.

CAIRO, July 26 (Xinhua) -- The second China International Consumer Products Expo (CICPE) will help promote global economic recovery and growth, an Egyptian researcher has said.

The Expo opened Monday on China's resort island of Hainan, presenting a unique platform for global consumer products companies to access the Chinese market.

"The exhibition contributes to the growth and recovery of the global economy from the repercussions of the COVID-19 pandemic and enables China to provide more high-quality consumer products to the international business community," Abu Bakr al-Deeb, advisor to the Cairo-based Arab Center for Research and Studies, told Xinhua in a recent interview.

The expo also contributes to promoting global trade in consumer goods and linking local and international markets to encourage double trading and push global economic recovery against the headwinds of the COVID-19 pandemic, said al-Deeb, an expert in international relations and political economy.

The six-day expo has attracted 1,107 overseas companies and 1,643 brands from 61 countries and regions, as well as over 1,200 domestic brands.

People visit the second China International Consumer Products Expo in Haikou, south China's Hainan Province, July 25, 2022.

With a larger exhibition area, more participating brands, and a special focus on new and quality products, the expo remains the largest consumer boutique exhibition in the Asia-Pacific region.

"The exhibition works to provide investment, commercial and marketing opportunities to all countries to enter the huge Chinese market. This will notably contribute to developing consumption and enhancing the confidence of foreign consumer companies to invest in China," he said.

The global platform of displaying and trading high-end consumer products showcases China's pledge of a higher level of opening-up.

"The exhibition represents China's policy of continuing opening up to the world. Hainan (free trade) port enjoys duty-free marketing policies and enjoys international medical care and international education, making the port an international symbol of free trade," al-Deeb pointed out.

Given the current stagnation in the global economy and the movement of international trade, he said, countries and companies around the world are looking for new marketing and trade opportunities, which means an increase in demand for participating in the exhibition.

The expo is an opportunity for Egyptian and other Arab and African companies to increase trade and investment exchange with China, al-Deeb said.

"The exhibition shows China's ability to organize such a major event despite international conditions, the risks of stagnation and slowdown that threaten the global economy, damage supply chains, and global economic and trade pressures witnessed by most countries of the world," the Egyptian researcher noted.

He stressed that more participating companies and larger exhibition area contribute to the success of the last year's edition.

"I believe this year's edition will be a great success," al-Deeb said.

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