An aerial photo shows workers putting up branding around the entrance of the fourth China International Consumer Products Expo at the Hainan International Convention and Exhibition Center in Haikou, Hainan Province, April 8, 2024. /Xinhua
The fourth China International Consumer Products Expo (CICPE) will commence on Saturday in Haikou, the capital of south China's Hainan Province.
A global platform that displays and trades high-end consumer products, this year's CICPE has an exhibition area named "Dual circulation, Global buying" that includes exhibitors from duty-free and e-commerce businesses.
Chinese consumers can purchase quality products made by foreign brands duty-free from the exhibitors in this area, without going abroad or even leaving their homes.
The exhibition area is expected to showcase the country's consumption power, facilitate the construction of the free trade port and contribute to the establishment of the new development paradigm of dual circulation.
"Dual circulation," the new development paradigm China adopted in 2020, takes the domestic market as the mainstay while allowing domestic and foreign markets to reinforce each other.
An aerial view of the Hainan International Convention and Exhibition Center in Haikou, Hainan Province, April 8, 2024. /Xinhua
The system was rolled out based on changes in China's development conditions domestically and internationally.
With a population of over 1.4 billion and a middle-income group of more than 400 million, stable demand from the world's largest consumer base serves as a crucial pillar for the global economy.
Meanwhile, in recent years, along with the changes in the global political and economic environment, the upsurge in deglobalization and the unilateralist and protectionist acts by certain countries, the traditional global circulation has been notably weakened.
As a result, Beijing urges efforts to root the country's development inside the country and rely more on the domestic market to achieve economic growth.
Thus, the new development paradigm doesn't mean China is withdrawing to its domestic market and shying away from the world. Quite the opposite, Beijing continues to facilitate its huge domestic market to foreigners, and hold the CICPE is a practical move to serve the establishment of the new paradigm.
According to Vice Minister of Commerce Sheng Qiuping, China's retail sales of consumer goods, a major indicator of consumption strength, climbed 5.5 percent year on year in the first two months of 2024 to 8.13 trillion yuan (about $1.15 trillion), revealing the resilience and vitality of the country's consumer market.
By attending the expo, foreign enterprises will not only have the opportunity to enhance their brand image but also to take advantage of the expo's spillover effects and Hainan's tax exemption policies to enter the vast Chinese consumer market.
This year's expo will boast a sprawling floor area of 128,000 square meters, surpassing its previous editions.
As products of more than 3,000 brands from 59 countries and regions worldwide will be on display, it also shows the attractiveness and potential of the Chinese market for foreign businesses.
2024年4月8日，航拍照片显示，工人们在海南省海口市海南国际会展中心第四届中国国际消费品博览会入口处张贴品牌标识。/新华社
第四届中国国际消费品博览会（CICPE）将于周六在中国南方海南省省会海口市开幕。
作为全球高端消费品展示和交易的平台，本届CICPE设置了“双流通、全球买”展区，免税、电商企业参展。
中国消费者不出国门，足不出户，就可以从该展区的展商处免税购买国外品牌的优质产品。
展区有望展示国家消费力，助力自由贸易港建设，为构建双循环新发展范式作出贡献。
2020年，中国提出“双循环”新发展格局，以国内市场为主体，国内外市场相互促进。
该制度是根据我国国内外发展形势变化而推出的。
全球人口超过14亿，中等收入群体超过4亿，稳定的消费需求是全球经济的重要支柱。
与此同时，近年来，随着全球政治经济环境的变化、逆全球化浪潮的兴起以及个别国家的单边主义和保护主义行径，传统的全球循环明显减弱。
因此，北京敦促将国家的发展扎根于国内，更多地依靠国内市场来实现经济增长。
因此，新的发展模式并不意味着中国要退出国内市场、回避世界。恰恰相反，北京继续为外国人提供巨大的国内市场，举办CICPE是服务新范式建设的务实之举。
商务部副部长盛秋平表示，2024年前两个月，中国社会消费品零售总额（消费强度的主要指标）同比增长5.5%，达到8.13万亿元人民币（约合1.15万亿美元），显示出消费的韧性和韧性。国家消费市场活力。
通过参加进博会，外国企业不仅有机会提升品牌形象，还能利用进博会的溢出效应和海南的免税政策，进入广阔的中国消费市场。
本届进博会展览面积达12.8万平方米，超过往届。
来自全球59个国家和地区的3000多个品牌的产品将展出，也展示了中国市场对外资企业的吸引力和潜力。
