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2022.07.20 20:42 GMT+8

China International Consumer Products Expo offers global business opportunities

Updated 2022.07.20 21:04 GMT+8
CGTN

Hainan International Convention and Exhibition Center, Haikou, China's Hainan Province, May 9, 2021. /CFP

The upcoming 2nd China International Consumer Products Expo opens China's market to the world and creates business opportunities for China and other countries to sell consumer products globally as more than 2,800 local and international brands join this year's exhibition, an official with the commerce ministry said on Wednesday.

"It is particularly worth mentioning that the Regional Comprehensive Economic Partnership (RCEP) members are enthusiastic to participate," said Sheng Qiuping, vice minister of commerce at a press conference.

"Japan, South Korea, Malaysia and other countries have a total exhibition area of more than 5,000 square meters, an increase of nearly 20 percent over the first expo," he said.

China has taken various measures to actively promote the import of high-quality consumer goods to cater to the diversified consumption needs of the people, according to Xu Xingfeng, an official with the ministry of commerce's department of market operation and consumption promotion at the same press conference.

The country has cut tariff levels from 9.8 percent to 7.4 percent between 2016 to 2021. After the RCEP comes into effect, tariffs on more than 90 percent of products in the region will gradually drop to zero, making prices of imported consumer goods more favorable, said Xu.

The 2nd China International Consumer Products Expo will run from July 26 to 30 in Haikou, the capital city of China's southernmost Hainan Province.

The exhibition area will expand to 100,000 square meters this year, 25 percent larger than the last year's event. Over 100 events will be held on the sidelines of the expo this year.

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