Commentary: Chinese consumer market full of opportunities for global brands
Release time:2024-05-21 17:51:48
HAIKOU, April 13 (Xinhua) -- The booming consumer market in China, the world's second-largest econom 。
HAIKOU, April 13 (Xinhua) -- The booming consumer market in China, the world's second-largest economy, generates numerous business opportunities for global brands. No big international brands would overlook the enticing Chinese market. This is precisely why the fourth China International Consumer Products Expo in China's southern island province of Hainan drew over 4,000 brands from 71 countries and regions. As seen from the theme of this year's expo, "Share Open Opportunities, Co-create a Better Life", it emphasizes China's willingness and initiative to share open opportunities with global brands that are making significant market investments. The expo, which started Saturday and lasts till April 18, is China's only national-level exhibition featuring consumer products and also the largest consumer expo in the Asia-Pacific region. This year it has the biggest scale ever, attracting a record number of brands with an indoor exhibition area of 128,000 square meters. The participation of numerous international companies underscores their keen interest and confidence in the Chinese market where consumption has become a major driver of the economy. There is no doubt that the Chinese consumer market is full of potential and opportunities, as its vast population of 1.4 billion, growing middle class, and increasing consumer demand for high-quality products have made China a key market for global companies. The Hainan expo provides a multifaceted platform for global companies to not only showcase their products and services but also explore more lucrative business opportunities and tap into the vast potential of the Chinese market. Meanwhile, Hainan is ramping up efforts to become a free trade port. This will increase market access and create a more favorable business environment. China also aims to build Hainan into a globally influential tourism and consumption destination by 2035. Booming duty-free shopping attests to the province's burgeoning appeal as a consumer haven. In 2023, the number of shoppers and the total value of transactions climbed by 59.9 percent and 25.4 percent, respectively, year on year. China's open and shared development injects great momentum into global economic growth. As China firmly advances high-standard opening up, the opportunities in its consumer market will only grow, offering a bigger slice of the cake for global brands.
(Editor:Wang Su)
Related articles
Ben Whishaw lights up the Croisette as he joins his co
Ben Whishaw was all smiles at the world premiere of Limonov: The Ballad at the 77th annual Cannes Fi2024-05-21Xi's 'two sessions' messages highlight China's high
Chinese President Xi Jinping has shone more light on the country's source of confidence for high2024-05-21Mainland ready to aid disaster relief after Taiwan earthquake: spokesperson
The mainland is paying close attention to the 7.3-magnitude earthquake in the Taiwan region and the2024-05-21Melissa George gives fans a rare glimpse at her newborn baby boy after giving birth at 47
Melissa George has shared a rare photo of her newborn son after giving birth to her third child at a2024-05-21College baseball notebook: Conference tournaments to decide NCAA automatic bids and many at
The field for the NCAA baseball tournament will take shape this week with conference tournaments det2024-05-21Grimes screams on stage after having 'major technical difficulties' during chaotic set at Coachella
Grimes faced some major technical issues during her set on the first weekend of the 2024 Coachella V2024-05-21
atest comment