The tropical island province of Hainan played host to the fifth China International Consumer Products Expo (CICPE) from April 13 to 18, drawing a record 4,100+ brands from 71 countries and regions. This year’s event has underscored China’s growing appeal as a vital marketplace for global enterprises.
The UK's role as the guest country of honor was highlighted by the participation of 27 companies spanning fashion, beauty, and other fields. Flagship names like Burberry and Bentley showcased their latest offerings, with an emphasis on green technology and sustainable development.
Douglas Alexander, minister of state at the UK's Department for Business and Trade, remarked, "I have seen the tremendous innovation and growth taking place within China's economy in recent years, especially in digital technologies, life sciences and green energy." His observations spotlight the expanding opportunities that both nations continue to explore together.
Local collaborations were emphasized by Josie Zhang, Burberry Greater China President, who noted the expo’s role in connecting foreign firms with local partners to explore new market opportunities and achieve mutual growth. The event also marked a notable debut for Slovakia with its first national pavilion, as highlighted by remarks from Slovak Deputy Prime Minister Denisa Saková on the deepening trade ties between the two regions.
Adding to the international flavor, Japan’s Eda Livestock Co., Ltd., known for its premium Wagyu beef, joined the expo for the first time with plans to establish a strategic foreign trade presence in Hainan. Such moves signal a broader trend among global brands positioning themselves for sustainable growth in China's dynamic market.
The luxury sector was equally vibrant, with top-tier names like Richemont’s TimeVallée, LVMH, and Kering Group brands making impressive appearances. Nancy Liu, president of DFS China, pointed out that luxury consumers in China are significantly younger, prompting brands to tailor services to meet evolving expectations.
Beyond luxury, sectors such as automotive and technology emerged as transformative forces. For the first time, dedicated zones for artificial intelligence and the low-altitude economy were featured, showcasing pioneering products from leading tech companies. Su Bahong, vice president of Volkswagen Group China, explained, "Since 2020, Volkswagen has invested over 10 billion euros in China, including our largest research and development center outside Germany, highlighting a trend where China is fast becoming a global hub for technological innovation."
Overall, the expo served as a powerful platform for fostering cross-border collaborations and fueling discussions about sustainability, digital transformation, and economic innovation. As global brands continue to explore and invest in China, the event stands as a testament to the evolving landscape of international trade and innovation.
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The fifth CICPE highlights China's growing allure for global brands
cgtn.com
