CICPE to spur global recovery
First consumer product expo to showcase China's open market
The upcoming first China International Consumer Products Expo, or the CICPE, will become a new platform to demonstrate China's willingness to share its market opportunities with the world and contribute to global economic recovery, officials and business leaders said on Monday.
The event will be held in Haikou, capital of Hainan province, from May 7 to May 10 in an exhibition area spread over 80,000 square meters. It is expected to be the largest boutique exhibition in the Asia-Pacific region, according to the Hainan Provincial Bureau of International Economic Development, one of the expo organizers.
The event is set to attract high-quality consumer products from home and abroad in Hainan and help build the island into a global duty-free shopping center and fashion consumption center, thereby facilitating domestic consumption upgrades, and improving people's living standard and consumption level, said Han Shengjian, the bureau's director-general.
About 60,000 square meters have been set aside for international exhibitions featuring fashion, jewelry, food and supplements, hospitality and professional services. A total of 1,165 global brands from 69 countries and regions have signed up for the gathering.
Together with the China Import and Export Fair (also known as the Canton Fair) and the China International Import Expo, the CICPE will provide a new platform to meet consumer demand as China pushes ahead on its path to transform its economy into a consumption-based one, said Huang Tingting, head of port control division at Haikou Customs.
A series of debut events will be held during the expo. Companies and brands such as Swatch of Switzerland, Shiseido of Japan, and Tapestry and Dell Technologies of the United States will launch hundreds of new products next month, covering over 20 categories such as clothing and bags, cosmetics, foods, wines and jewelry.
Judith Sun, a managing director for Swarovski Crystal Business, said the Austrian company will launch an offline debut of new branding at its 108-square-meter space during the expo.
As the event focuses on consumption, one of the top economic priorities of the Chinese government, it will help speed up the growth of the Hainan Free Trade Port, she said.
Jean-Etienne Gourgues, managing director of Pernod Ricard China, the French wine and spirits group, said the CICPE is a wide-ranging exhibition and trade fair for products from all over the world, as well as a new platform for international exchanges and cooperation. "We hope to seize the fresh opportunities arising from China's dual-circulation development paradigm to better meet the needs of Chinese consumers via participation in the exhibition."
With its unique location and policy advantages, he said the Hainan Free Trade Port will offer further growth potential for foreign companies. The company is confident in its path for the future with the support of major events and additional policies.
The experience of mitigating the impact caused by COVID-19 has demonstrated the resilience and vitality of China's consumer market, he said, adding Pernod Ricard achieved 13 percent business growth in China from July to December, on a yearly basis. The company will showcase products at its 100-square-meter booth at the expo next month.
Eager to enhance its market presence in China, the company opened its first Martell retail flagship store in Shenzhen, Guangdong province, last year, and the second one in Sanya, Hainan province, in January.
Farrell Wang, managing director of consumer health at Johnson &Johnson China, said the CICPE will be an unparalleled opportunity for J&J to showcase its consumer products as well as to engage with consumers, customers and distributors.
He said China is not only a critical growth engine, but also an innovation hub for the US company's global business portfolio. With the largest population in the world, rising middle-income families and consumption upgrade, China remains a vast market for foreign companies.
"Under this circumstance, China's new dual-circulation development pattern will be beneficial for J&J's development in China, and we are pleased to see that China continues to open up, with a fair business environment," he said.
In addition to holding a forum on consumption innovation, duty-free shopping and the tourism retail industry, new business models such as cross-border e-commerce and livestreaming will be on full display at the first CICPE, said Zhu Xiaoliang, director-general of the department of market system development at the Ministry of Commerce.