2024-04-20 21:54:17
This year’s fourth edition of the International Consumer Products Expo brings together old and new friends, and the level of internationalism has set a new record, Radio China reports. Over 4,000 brands from 71 countries and regions participated in the exhibition, with the number of foreign companies exceeding those of previous editions. 1,462 new products and 84 domestic and foreign brands debuted at the exhibition. Countries such as Great Britain, Mongolia and Malaysia took part for the first time.
The market is the scarcest resource. For foreign enterprises, China’s huge market means significant income. China is currently focusing on boosting consumption to move from post-pandemic recovery to sustainable expansion. In the first quarter of this year, the percentage of consumption’s contribution to GDP growth reached 73.7 percent. In April, China’s retail industry prosperity index came in at 50.4 percent and is in an expanding range for another year. This consumer power directly affects the business performance of foreign companies. They see that the Chinese market brings them many innovations and a strong motivation for development. At this year’s exhibition, there are not a few new products with Chinese technology.
The open and high-quality business environment of the Chinese market welcomes foreign enterprises. It is worth noting that since the implementation of the policy to “expand visa-free entry to personnel from 59 countries in Hainan Province” in February this year, many foreigners do not need to apply for visas. In this way, China opens up to the outside world.
As many foreign investors have said, whether it is old friends or new customers, the Chinese market will always remain their “aspiration”.