China welcomes global enterprises at 4th consumer expo in Haikou

China welcomed global companies to share business opportunities as the fourth China International Consumer Products Expo held its opening ceremony in Haikou City, south China's Hainan Province, on Saturday.

More than 4,000 brands from 71 countries and regions are set to participate in the expo, which is scheduled from April 13 to 18 and boasts a record exhibition area covering 128,000 square meters.

The event, China's first major international trade fair of the year and the largest consumer expo in the Asia-Pacific in terms of scale, will serve as a display and trading platform for global high-quality consumer products, and inject vigor into the ongoing efforts toward global economic recovery, according to the event's organizing committee.

"In order to further optimize consumer supply and enrich consumption scenarios, this year's expo has planned a series of activities to drive consumption transformation and upgrade and boost confidence in economic development," said Peng Qinghua, vice-chairman of the Standing Committee of the National People's Congress.

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"Consumption, as the final demand, is the ultimate goal and driving force of production, and is also a direct reflection of people's demand for a better life," said Peng.

This year's government work report called for growth in consumer spending in China, which has instigated multiple activities, including the 2024 national online Spring Festival shopping season to promote consumption.

In January and February, total retail sales of consumer goods in the country reached 8.1 trillion yuan ($1.12 trillion), up 5.5 percent year-on-year, according to the National Bureau of Statistics.

The figure revealed the resilience and vitality of the country's consumer market, said Sheng Qiuping, vice-minister of commerce.

Fueled by China's huge consumption market, there are more exhibitors and buyers in attendance at the trade fair compared to previous years.

"The consumption looks amazing, we are extremely happy. We are planning reinvestment in China. That's why this time we are opening our Italian pavilion here," said Paola de Luca, CEO of The Futurist Ltd, a creative firm specialized in strategic projects for the luxury and jewelry sectors. 

Luca Battiloro, CEO of Ducati China, took part in the expo for the second time.

"It's already the second time we take place in the platform, and last year was very successful. We made lots of contacts, met lots of people. It's the vibrant atmosphere that helps to have a positive view in the future," said Battiloro.

Ireland is the guest of honor with a dedicated exhibition venue showcasing the country's scientific and technological innovation.

Companies from the UK, Mongolia and Malaysia will showcase their products in groups for the first time.