At the Hainan International Convention and Exhibition Center, Aqeel Ahmed Chaudhry, a jeweller from Pakistan, was busy showing his dazzling products to visitors attending the third China International Consumer Products Expo (CICPE).
Scheduled from April 10 to April 15, the 3rd CICPE, or Hainan Expo, is being held in Haikou, Hainan, China, drawing over 3,300 brands from 65 countries and regions to share the dividends of the world’s second-largest consumer market.
Foreign business leaders and exhibitors, including those who come from Pakistan, have voiced hope for expanding their presence in the Chinese market.
It was Chaudhry’s first time attending the consumer products expo. Living in China for more than a decade, he launched WINZA Jewelry in Shanghai’s glitzy business district. How can people seek a foothold in China’s increasingly competitive jewellery market? Chaudhry knows it back to front.
China’s consumer market has seen notable progress in scale and quality over the past decade.
Retail sales of consumer goods in China exceeded ?40 trillion (about $ 5.81 trillion) in 2019 and hit ?44 trillion in 2022, more than double the 2012 figure, said Xu Xingfeng, director of the Ministry of Commerce (MOC)’s consumption promotion department, at a global consumption innovation, duty-free and travel retail conference being held as part of the ongoing expo.
To ride this wave, Chaudhry signed agreements with Zhuhai Duty-Free Enterprises Group Co., Ltd. (Zhuhai Duty Free) and Hainan Tourism Investment Duty-Free Co., Ltd. (HTDF), to brighten the brand with new opportunity of offshore duty-free shopping in Hainan.
“We plan to open a retail store in Zhuhai Duty Free complex, which is expected to be completed by 2025,” Chaudhry told China Economic Net, adding that a 3-year agreement was also signed with HTDF at the 3rd CICPE to boost the brand’s offshore duty-free sales. —APP
