The inaugural China International Consumer Products Expo is highly anticipated by international businesses, especially high-end brands, Xinhua reported on Tuesday.
Many global high-end consumer brands said the expo, scheduled to be held from May 7 to 10 in Haikou, capital of South China's Hainan province, will be a bridge for global brands to enter the Chinese market via Hainan, providing unlimited business opportunities to overseas enterprises.
The event is expected to be the largest boutique fair in the Asia-Pacific region and will have a significant impact, even on a global scale, said Han Shengjian, director-general of the Hainan Provincial Bureau of International Economic Development.
The expo has attracted about 630 enterprises from 69 countries and regions with 1,165 brands, covering almost all leading brands and enterprises in the consumer goods field.
Luxury brand Etro, representing "Italian chic" and "Made in Italy", has confirmed its participation in the expo.
China is not only a critical market for Etro, but also an inexhaustible source of inspiration for breakthroughs and innovations, and the company is looking forward to having different inspiration at the expo, according to an unnamed representative from Etro.
Hanse Yachts Group, a world-famous yacht manufacturer in Germany, also showed confidence in the Chinese market by participating in the expo because the yacht rental market is booming in Hainan and the policy of "zero tariff" for vehicles and yachts in the Hainan Free Trade Port, in particular, facilitated Hanse entering the Chinese market.
Financial reports of many international brands showed sales in their companies have been hit by the sudden outbreak of the pandemic, but the Chinese market has bucked the trend with growth.
Preferential policies in visa, tax and foreign exchanges at Hainan Free Trade Port have formed a good channel for international high-end brands, according to the report citing some exhibitors.
Covering 75 percent of total exhibition area, the expo's boutique exhibition area contains five sections, including high-end food and supplements, fashion life, jewelries and diamonds, lifestyle and outdoors, as well as hospitality and professional services.
The expo will provide exhibition and trade opportunities for "high, new, excellent and special" consumer boutique products from all over the world to enter the Chinese market and hundreds of new products will be launched during the event.
Hainan is gearing up for the preparation work to hold the China International Consumer Products Expo with strengthened coordination of services in details, The Papers reported on Monday.
China's CPC Central Committee and the State Council of China issued the Master Plan for the Construction of Hainan Free Trade Port on June 1, 2020. Hainan Island has since then been opening its arms to the rest of the world as its largest free trade port.
The policy system of Hainan Free Trade Port prioritizing trade and investment liberalization and facilitation will have initially taken shape by 2025 and Hainan will build itself into a high-level free trade port with relatively strong international influence by the middle of the 21st century, according to the expo's official website.
Behind the gathering of global brands is the huge potential of consumption in China and more international companies are ready to further deepened investment and trade cooperation with China via the platform Hainan has established.