Commentary: Chinese consumer market full of opportunities for global brands
Release time:2024-04-30 15:47:35
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
Music and martial arts witness China
French martial arts enthusiasts practice traditional Chinese Qigong breathing exercises at the Mount2024-04-30Indonesia and Japan advance at U23 Asian Cup. South Korea out of contention for Paris Olympics
DOHA, Qatar (AP) — South Korea will miss the men’s soccer tournament at the Olympics for the first t2024-04-30Broncos select former Oregon QB Bo Nix with the 12th pick in the NFL draft
ENGLEWOOD, Colo. (AP) — The sixth quarterback selected in the 2024 NFL draft was No. 1 in the Denver2024-04-30Ruins of ancient Taoist temple found in north China
SHIJIAZHUANG, Sept. 23 (Xinhua) -- Archaeologists have found the ruins of a Taoist temple dating bac2024-04-30'The Tortured Poets Department' gets largest streaming week ever
NEW YORK (AP) — Taylor Swift continues to dominate in the week following the release of her 11th alb2024-04-30- Victoria Beckham has reportedly done a 'U-turn' on plans for a Spice Girls tour after the band reuni2024-04-30
atest comment