NEWS
ITALY IS COUNTRY OF HONOUR IN HAINAN'S CONSUMER PRODUCTS EXPO TO OPEN ON 11 APRIL
By Siulan Law Mathews DipWSET
23-3-2023
Source: Xinhua News Agency
Preparation for the 3rd China International Consumer Products Expo (CICPE), to be held from 11 to 15 April in the Chinese island of Hainan, is in full swing.
The CICPE is one of the four major national-level exhibitions to be held in China every year, and it will be the first to return as a physical show this year after the lifting of Covid restrictions in China.
CICPE 2023 will encompass an area of 100,000sqm, among which 20 percent is for domestic companies and the rest for international exhibitors.
Italy will be the country of honour this year, while exhibitors from countries including Spain and Poland will take part for the first time.
Also in attendance will be companies from France, Germany, USA, Japan, South Korea and other key European countries, in addition to countries in Southeast Asia and Australasia.
Multiple global brands in sectors including fine wine and spirits, clothing, cars and consumer electronics will be participating.
The first batch of exhibits, from the country of honour Italy, has already arrived in Hainan and is given expedited customs clearance.
The Hainan Island has emerged to become China’s most important hub of luxury shopping since international travel restrictions drove many Chinese consumers to shop for luxury items from the island which enjoys duty-free status.
In 2021, Hainan accounted for 13 percent of China's domestic luxury spend, versus 6 percent pre-pandemic.
The island province was the driving engine for global travel retails in 2020 and 2021 when international borders were shut.
However, Beijing’s continuing zero-Covid policy in 2022 impacted China’s domestic tourism and hospitality sector severely. The global travel retail market was driven instead by markets in Europe, Middle East and the Americas that had fully reopened.
Hainan has continued to invest heavily in travel retails though. It opened the world’s biggest duty-free shopping centre in Haikou city in late October last year, spanning 280,000sqm and boasting more than 800 international and domestic brands.
Another duty-free shopping centre was opened in Wanning city earlier this year, adding to the existing 11 hubs, including six in Haikou, four in Sanya and one in Qionghai city.
(the writer can be contacted at: info@thewinechronicle.com)
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