The third China International Consumer Products Expo (CICPE) was held in Haikou, the capital city of Hainan province in southern China, from April 10 to 15. This year’s event was the largest yet, with an exhibition area of 120,000 square meters, a 20 percent increase from the previous edition. Over 3,300 brands from 65 countries and regions were showcased at the expo, including more than 1,000 products under 300 global brands that made their debut.
These figures highlight the CICPE’s influence and the vast potential of the Chinese market. China has always been committed to its policy of opening up to the world and has pursued a mutually beneficial strategy to achieve this goal. By creating opportunities for global enterprises, the CICPE serves as a vital platform for them to better connect with the Chinese market and share development opportunities.
China boasts a massive and rapidly growing multi-tiered consumption market. In 2022, China imported consumer goods worth 1.93 trillion yuan ($280 billion), a 100 percent increase from 2012. Cross-border e-commerce imports grew 4.9 percent year on year to 560 billion yuan. Over the past few years, China has hosted numerous large-scale trade fairs, including the China International Import Expo, the China International Fair for Trade in Services, the China Import and Export Fair, and the CICPE. These events have provided substantial opportunities for global enterprises to enter the Chinese market and benefit from China’s development achievements. By creating a shared market for all global players, a more open China will help drive the recovery of the global economy.
China cannot develop in isolation from the rest of the world, and the world also needs China for its development. China’s economy accounts for over 18 percent of the global total, and its contribution to global economic growth averaged 38.6 percent during the 2013-2021 period. As the world’s largest trading country in goods and services, China has a vast industrial system and robust industrial supporting capacity. This makes China confident in its high-quality economic development and is an important reason for the international community’s optimism about the country’s economic prospects.
China will continue to open up to the world, regardless of how the international situation may change. It will only open itself wider to the world, providing better services and environments for all. For global enterprises committed to developing in China, investing in China means a brighter future.
The world is undergoing profound changes not seen in a century. A new round of technological revolution and industrial reform is reshaping the global economic structure, while the world economic recovery remains sluggish, and regional conflicts and disturbances are frequent. Responsibility, cooperation, solidarity, openness, and inclusiveness are particularly important in adversity. The success of the CICPE demonstrates that openness and cooperation are still the trend of history, and win-win cooperation is still what people aspire to. Only through mutual assistance and win-win cooperation, and by jointly building an open world economy, can countries achieve strong, sustainable, balanced, and inclusive growth of the world economy.
China’s commitment to opening up and global cooperation is evident in its hosting of various trade fairs and expos, including the CICPE. These events provide a platform for global enterprises to showcase their products and connect with the Chinese market, which has experienced rapid growth in recent years.
The Chinese economy is a significant contributor to global economic growth and is the world’s largest trading country in goods and services. As such, China recognizes its role in promoting open and inclusive economic growth that benefits all countries.
In the face of profound changes in the global economic structure and slow economic recovery, China remains committed to open cooperation and mutual assistance. The success of the CICPE demonstrates that win-win cooperation is still what people aspire to, and through it, countries can achieve strong, sustainable, balanced, and inclusive growth of the world economy.
As China embarks on a new journey towards high-quality economic development, it will continue to open up even wider and strengthen cooperation with the rest of the world. It aims to foster a market-oriented and world-class business environment, governed by a sound legal framework, that will bring more opportunities to other countries and inject more positive energy into global economic development.
The bird’s-eye view of the Hainan International Convention and Exhibition Center, the venue for the CICPE, symbolizes China’s welcoming attitude towards guests from all over the world. With its commitment to openness, cooperation, and inclusiveness, China is poised to play a significant role in shaping the future of the global economy.