Expo guests praise high-level opening-up

Despite a complex and ever-changing international situation and with the process of globalization facing challenges, China has always embraced the world with its high-standard opening-up, attracting investments from many foreign enterprises.

Officials and top executives of foreign companies made the remarks during the ongoing fifth China International Consumer Products Expo in Haikou, Hainan province, the biggest ever compared with past editions, which points to the confidence of global consumer enterprises in China.

This year, the expo has attracted the participation of more than 1,700 companies and over 4,100 brands from 71 countries and regions. The exhibition area of US companies stands as the largest, with a total of 29 firms and 40 brands participating in the event, according to the Hainan provincial government.

"Facing a complex and ever-changing external environment, the holding of the expo has played a reassuring role for many foreign companies. They have indicated a high enthusiasm of cooperating with China and firmly believe in China's opening-up policy and the prospect of the Hainan Free Trade Port," said Huang Cui, deputy director-general of the Hainan Provincial Bureau of International Economic Development.

The United Kingdom serves as the guest of honor at the expo this year, and 27 UK companies participated in the event, including luxury brand Burberry, Denby Pottery, Loake shoes and Endura cycling gear.

Douglas Alexander, minister of state at the Department for Business and Trade of the United Kingdom, said: "We all have seen the tremendous innovation and growth taking place within China's economy in recent years, not least in digital technologies, life sciences and green energy, and areas which present significant opportunities for both our economies. So, we very much want to support British businesses big and small to seize the opportunities that the Chinese market offers. I look forward to discussing how we can unlock opportunities for increased trade and how we can realize a more prosperous future for both the UK and China."

Alexander said the UK is keen to explore the opportunities for free and open trade — trade that benefits both Chinese and British firms.

Besides the UK, France, Switzerland and Slovakia are also showing their products in the form of national exhibition venues.

Denisa Sakova, deputy prime minister of Slovakia, said Slovakia is grateful for the openness and willingness of China to create favorable conditions for the development of trade and investment cooperation.

The volume of foreign trade between the two countries is continuously increasing, and Slovakia aspires to become a reliable and responsible partner that contributes to economic growth and innovation for both sides.

CP Group, a Bangkok-based firm and a five-time participant at the expo, said it has developed industrial parks that integrate coffee planting and coffee cultural and tourism in Xinglong, Hainan. Next, it plans to build a modern agricultural food industry park with tropical and efficient agricultural features in the province.

"By utilizing our global resources, we would like to promote more products from Hainan and other parts of China to Thailand, Southeast Asia and the world," said Xie Yi, senior vice-president of CP Group.

Denis Cheng, consumer sector leader of EY Greater China, said with the government's multiple favorable policies that aim to boost consumption, China's overall consumption market is expected to show a stable and positive growth trend this year.

As China has expanded the scope of its consumer products trade-in programs, the consumption potential of durable consumer goods is expected to be further boosted this year, Cheng said, adding that new demand and new technologies will help fuel more consumption hot spots and growth points, and emerging sectors such as green, smart and health consumption are likely to embrace more growth opportunities.