CICPE helps investors to enter China and Chinese firms to go global

Editor's note: Lu Yue, a special commentator on current affairs for CGTN, is a Professor at the Academy of China Open Economy Studies, University of International Business and Economics. The article reflects the author's opinions and not necessarily the views of CGTN.

The fourth China International Consumer Products Expo is being held in Haikou, south China's Hainan Province from April 13 to 18. With the theme of "Share Open Opportunities, Co-create a Better Life," the Expo attracted more than 4,000 premium brands from 71 countries and regions.

As a highlight of the Ministry of Commerce's "Year of Consumption Promotion" activities, the Expo effectively promotes the import and export of high-quality consumer products, and leads the new trends of digital, green and healthy consumption.

The Expo, a window for high-standard opening up in the new era, has been held for four consecutive years and has become the largest consumer products exhibition in the Asia-Pacific region. Furthermore, as the first major international exhibition of the year, it is setting a positive tone for a series of major foreign affairs activities. This year's Expo has reached new historical highs in terms of exhibition area, the number of participating brands and the scale of thematic activities. It is expected to yield greater effectiveness in promoting the import and export of high-quality consumer products.

Next, the Expo serves as a platform for foreign high-quality exhibitors to take root in China. The Expo is an important measure to optimize the business environment in China, thus demonstrating both the vitality of the Chinese market and the sincerity of the Chinese government. By lowering the threshold for foreign enterprises to approach Chinese consumers and establish a presence in the Chinese market, more enterprises from more economies have increased their willingness to enter the Chinese market.

At this year's Expo, not only have many international leading brands from various industries made their debut, but there are also countries such as the United Kingdom, Mongolia and Malaysia participating for the first time. Through the Expo, a number of exhibitors are expected to transform into investors, thereby consistently providing high-quality consumer products to the domestic market and sharing in the unified consumer market of China.

After that, the Expo is facilitating domestic enterprises in tapping into international consumer markets. While providing a platform for international high-quality consumer products to enter the country, the Expo also supports domestic enterprises in promoting Chinese brands and implementing the strategy to expand overseas.

At the Expo, selected domestic brands from various provinces and cities are appearing on the same stage with global brands, but they do not lag behind in product quality, design and packaging, or research and innovation, showing the world the hard-core competitiveness of Chinese products.

This year's Expo features a dedicated "Domestic Brands Zone," displaying trendy products from various regions, time-honored brands, and "intelligent manufacturing in China" brands. With an increasing number of high-end boutique domestic products presenting a fresh outlook on Chinese brands and manufacturing, they are capturing the attention of numerous traders and consumers from all over the world.

Through the Expo, Chinese brands have expanded their global popularity and influence, and many enterprises have signed on-site contracts to take orders. Domestic high-quality products are seen by the world, accelerating their steps towards going global.

Last but not least, the Expo is strengthening the connection between consumers and global high-quality products. This year's Expo continues to adhere to the positioning of "fine products, new products." While exhibiting a range of "new, unique and special" products to meet the high-quality and diversified consumption needs of consumers, it is also leading emerging consumption trends such as digital, green and healthy consumption. With over 300 thematic events and featured activities such as global consumer innovation and new product releases, this year's Expo is providing a comprehensive platform for consumers to engage with fresh and upmarket products.

In addition to directly promoting the import and export of high-quality consumer products, the Expo has long-term effects in terms of exhibition economy and spillover effects. Its impacts on promoting high-level opening-up, expanding domestic demand, nurturing new quality productive forces, and other aspects will gradually become evident.

The Expo will not only help strengthen China's economic and trade ties with countries worldwide, promote the optimization and upgrading of the trade structure, and empower the construction of the Hainan Free Trade Port (FTP), but will also add impetus to the recovery of the world economy and gather strength for global prosperity and development.

The Expo and Hainan FTP will further play a linked role in building an international tourism and consumption center by creating a first-class business environment characterized by the rule of law, internationalization, and facilitation, and will continuously attract foreign enterprises to do business and invest in China.

The Expo also promotes market competition and stimulates innovation in the domestic consumer goods industry. It is a grand stage for global consumer products, as well as an arena for similar brands within the industry. Numerous industry-leading brands and the latest technologies converge here, providing opportunities for mutual learning and inspiration among enterprises, thus stimulating more product and service innovation. Additionally, the Expo enables companies to perceive new market trends and understand new market demands, so that they can produce goods that meet the high-quality needs of domestic consumers.

The Expo will unleash the potential of domestic demand by introducing a number of international high-quality products tailored to the Chinese market, and expanding the supply of high-quality goods. The focused areas of the Expo, such as trade-in programs, smart home, culture, tourism and sports, are expected to foster new types of consumption.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on Twitter to discover the latest commentaries in the CGTN Opinion Section.)