HAIKOU/NANNING, April 18 (Xinhua) — Cheng Zhongyun, chairman of a jetboard maker in south China’s Guangxi Zhuang Autonomous Region, simply wrapped up a busy journey to Hainan, the place he attended the third China International Consumer Products Expo (CICPE).
“We’ve participated in the expo for three consecutive years, and every year our participation has proved fruitful. While further exploring the local market in Hainan, the expo also provides opportunities for us to acquire orders from foreign companies,” mentioned Cheng.
His firm, Guangxi Tefei Yuntian Aviation Power Technology Co., Ltd., is a microcosm of many home corporations leveraging the resumed offline expos to achieve wider abroad market entry.
From April 10 to fifteen, over 320,000 customer arrivals have been registered on the CICPE, which gathered greater than 3,300 manufacturers from 65 nations and areas.
On Saturday, the 133rd China Import and Export Fair, also called the Canton Fair, kicked off in Guangzhou and welcomed purchasers from over 220 nations and areas.
Burgeoning on-site actions, coupled with a set of free commerce agreements such because the Regional Comprehensive Economic Partnership (RCEP), have significantly boosted regional financial integration.
Apart from China, 10 different RCEP member nations, together with the Republic of Korea, Thailand and Vietnam, participated on this yr’s CICPE, whereas Japan arrange an exhibition space exceeding 1,800 sq. meters on the CICPE this yr.
“The cooperation between Hainan and RCEP member states has deepened in recent years with the help of platforms such as the CICPE,” mentioned Zhang Bin, director of the Department of Commerce of Hainan Province.
Zhang added that in 2022, Hainan attracted whole funding of 840 million yuan (about 122 million U.S. {dollars}) from different RCEP member states. The import and export quantity of products between Hainan and RCEP member nations elevated by 23.7 % yr on yr.
Of the over 160 forms of featured merchandise displayed within the Guangxi pavilion at this yr’s CICPE, about 60 varieties come from ASEAN nations, that are all RCEP member nations.
Yu Xuemei, deputy director of Guangxi’s division of commerce, mentioned as China’s gateway to ASEAN, Guangxi has adopted a extra proactive technique to deepen financial cooperation and commerce exchanges with neighboring nations.
“The CICPE will definitely promote consumption and boost regional economic development,” Yu added.
In 2022, China’s whole retail gross sales of client items reached practically 44 trillion yuan, and China maintained its standing because the second-largest import market on this planet for the 14th consecutive yr.
Exhibitors at each the CICPE and the Canton Fair highlighted China’s very important position in driving world financial restoration and the large development potential of China’s client market.
“The rising enthusiasm of many countries and regions, especially RCEP member countries, to participate in the offline expos proves that the international community is optimistic about the vitality of China’s consumer market and economic development prospects,” mentioned Chen Jian, a researcher with the China Society of Economic Reform.
Chen famous that such gala’s will totally unleash the potential of financial development, promote mutual profit, and proceed to inject new impetus into regional and world financial restoration.