Over 3,300 brands from 65 countries and regions have gathered at the third China International Consumer Products Expo (CICPE) in Haikou, capital of south China's Hainan Province, making it the largest high-end consumer exhibition in the Asia-Pacific region.

Spanning 120,000 square meters, the six-day event has already attracted more than 320,000 visitors.

The expo featured 311 launch events, with over 1,000 new products, including fashion, cosmetics, jewelry, high-end drinks, biotechnology, smart life, green consumption and art toys.

China began construction of the Hainan Free Trade Port (FTP) in 2020 as part of its proposal to establish a free trade zone in Hainan.

The island province has implemented a package of favorable policies aimed at easing market access and facilitating free trade, investment, and cross-border capital flows.

According to official data, duty-free sales in Hainan increased by 18 percent year-on-year to 16.9 billion yuan ($2.46 billion) in the first quarter of 2023.

China, by holding the third CICPE, has continued to open up its super-sized market, injecting strong impetus into global consumption and trade prosperity as well as world economic recovery, said Yuki Izumikawa, an official of the Japanese Association for the Promotion of International Trade, noting that the expo is held at a time when the current world economy faces growing uncertainties, with rising unilateralism and protectionism, and many countries have entered their interest rate hiking cycles.

"We have confidence and the ability to promote the growth of the Chinese economy in spite of challenges and headwinds, and to make greater contributions to world economic development," Foreign Ministry spokesperson Wang Wenbin said at a press conference on Tuesday, responding to the World Bank's recent revision of its 2023 growth forecast for China from 4.3 to 5.1 percent.

The CICPE has also become part of a national level "exhibition matrix" with the Canton Fair, the China International Fair for Trade in Services, and the China International Import Expo, making the Chinese market more accessible to the world.