This archive report was first published on 9 May 2021.
On May 9, 2021, thousands of consumers and business persons in Haikou, the capital of China's southernmost Hainan province, witnessed the economic vitality at the first China International Consumer Products Expo (CICPE).
The expo, running from May 7 to May 10, 2021, has attracted 648 foreign enterprises showcasing over 1,300 brands in Haikou, and is expected to be the largest consumer goods expo in the Asia-Pacific region.
Striving for post-pandemic recovery, multinational giants came to the expo to debut their new products and showcase their top-notch goods, and overseas small- and medium-sized enterprises (SMEs) also flocked here to observe the booming Chinese market.
According to Fabrice Megarbane, L'Oreal's president for North Asia Zone and chief executive officer (CEO) of L'Oreal China, China continues to open up to the world with a positive and enterprising attitude, setting an example for other countries.
U.S. luxury fashion company Tapestry thinks alike. Yann Bozec, president of Tapestry Asia Pacific, said, “the expo is not only an innovative platform bringing together high-quality products and services from all over the world, but also an important opportunity to showcase our brand concepts, expand market channels and innovate consumer trends.”
As the pandemic continues to batter world economy, the first trade fair in China's biggest free trade port has not only attracted global giants, but also groups of foreign SMEs.
Showing Xinhua reporters around the Irish pavilion, Gareth Hargadon, head of Economic Section with the Irish Embassy in China, proudly introduced products ranging from food and beverage to animal nutrition, luxury home wares and babycare products, calling them unique offerings of Ireland.
Lee Junhyung, CEO of Sunwah-Fonwin Korea Inc, said Korean companies came here with “high expectations” and many of them had achieved results beyond expectations on the first day of the expo.
“China's recovery from the pandemic gives hope to the world, Hainan's International Consumer Products Expo is a practical step to bring such hope to other countries,” said Xiong Yu, a professor at the Britain-based Surrey Business School of the University of Surrey.
