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Foreign firms see huge potential in Chinese market at consumer products expo 2024/4/19 source: Print

Foreign exhibitors at the ongoing fourth China International Consumer Products Expo in south China's Hainan Province say they are optimistic about the Chinese market and will continue to build their presence in the country to tap its full potential.

The expo, which started Saturday in Hainan's Haikou City and will run until April 18, has drawn over 4,000 brands from 71 countries and regions.

The hectic scenes at the expo show that they are positive about the huge market and robust consumption potential of the country.

"We are very upbeat about our overall arrangement in the Chinese market. In the second half of this year, we will open a new ski resort in Zhangjiakou. In the next three years, Club Med will open 17 resorts around the world, half of which will be in the Chinese market," said Xu Bingbin, president of Fosun Tourism Group.

"We will continue to increase our investment, 2.5 billion euros this year. In order to strengthen our research and development in China, we have set up Volkswagen (China) Technology Co. Ltd., which is Volkswagen's largest research and development center outside its headquarters in Germany," said Zhang Lan, vice president of sales with Volkswagen (China) Group.

"The Chinese market for us is one of the biggest markets in the world. It's very dynamic. It's driven by a lot of new trends, and these trends are developing faster here in China than in the rest of the world. So we are very much committed to the market and we are watching all those trends very carefully," said Konstantin Sychev, managing director of Automobili Lamborghini Chinese mainland, Hong Kong and Macao.

In addition to renowned multinationals, Italy, Britain, Canada, Japan, Malaysia and other countries have also organized a host of small and medium-sized enterprises to participate in the expo, aiming to improve the popularity of their products among Chinese consumers, better understand the Chinese market and seize its opportunities.

"[For those] new to the Chinese market, companies that have arrived here, there are always new opportunities, including in areas like green development and retail and financial services," said British Consul-General in Guangzhou Sarah Mann.

The expo is China's only national-level exhibition featuring consumer products and also the largest consumer expo in the Asia-Pacific region.


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