Companies from participating countries of the Regional Comprehensive Economic Partnership (RCEP) hope to expand their business in China by exploring opportunities at the 4th China International Consumer Products Expo (CICPE), also known as the Hainan Expo.
The six-day expo that concluded on Thursday in Haikou, the capital of south China's island province of Hainan, attracted over 4,000 brands from 71 countries and regions to show their novel and upmarket products for global consumers.
It has witnessed the participation of a large number of exhibitors from the RCEP countries.
The trade investment agencies from Japan and South Korea set up their booths in Hall 4, and this year marked their fourth participation.
"The Chinese consumer market is very large, so many Japanese companies are paying attention to it. We look forward to the further expansion of the Chinese market," said Okada Eiji, director of the Guangzhou office of the Japan External Trade Organization (JETRO).
Shim Ryul, deputy director of the Guangzhou office of the Korea Trade-Investment Promotion Agency (KOTRA), highlighted RCEP's preferential policies that benefit businesses from both South Korea and China. He hoped that more South Korean companies will learn about the related policies.
"The RCEP has been in effect for two years. South Korean companies have already seen the effects of the preferential policies provided by the RCEP, such as reduced product costs," said Shim.
Exhibitors from Thailand expressed optimism that the RCEP's policies and the Hainan Free Trade Port will fuel more high-quality Thai goods to enter into the Chinese market.
"With the preferential policies of the free trade port and the RCEP, foreign products will easily find their way to the Chinese market. We look forward to bringing more and better Thai products to China," said Chen Yiqin, a Thai exhibitor.
Companies from RCEP countries eye Hainan Expo for business growth in China
Companies from RCEP countries eye Hainan Expo for business growth in China
