(The First Consumer Fair) Global brands look at the market: What does China mean to us?

  China News Service, Haikou, May 8th, title: Global brands look at the market: What does China mean to us?

  China News Agency reporter Huang Yi

  At a time when the global epidemic prevention and control situation is still severe and economic globalization is facing a countercurrent, the first China International Consumer Goods Expo (hereinafter referred to as the Consumer Fair), which is being held in Haikou, provides an important display platform for international brands.

Embracing the Chinese market and sharing China's opportunities has become a broad consensus among participating international companies.

Data map: The South Square of the Hainan International Convention and Exhibition Center displays the theme landscape of the Consumer Expo.

Photo by Luo Yunfei

  "Since 2019, the Chinese market has become our largest and most important market in the world, and the biggest engine for global business growth." said Sun Jue, managing director of Swarovski Crystal Business Greater China, following the epidemic. With the strong recovery of China's economy in the era, they are full of confidence in the future development.

  Sun Jue told reporters that the scale of China's light luxury market is twice that of Swarovski's current fashion jewelry market, and the transformation of light luxury will provide Swarovski with more room for growth.

At the same time, Swarovski will strive to attract the main force of Chinese consumers of Generation Z and Millennials.

  L’Oréal’s North Asia President and China’s Chief Executive Officer Fei Bori revealed that in the first quarter of 2021, L’Oréal’s Chinese market achieved a year-on-year growth of 37.9%. The Chinese market has not only become the engine of economic growth for the entire group, but more importantly, it has Exporting its market experience to foreign countries, so that the global market can draw nutrients from China and benefit from it.

  Fabre said that the Hainan Free Trade Port and the Consumer Fair are signs of further opening of the Chinese market. L'Oréal has a history of 24 years in China. It is a witness and participant of a series of favorable business policies in China’s reform and opening up. Contributor.

There are many opportunities in the Chinese market in the future, and this consumer expo will also promote the further development of the Chinese economy and consumer market.

  Liu Jingliang, deputy general manager of Omron Healthcare (China) Co., Ltd., said that the Chinese consumer market is Omron's largest overseas market.

It is hoped that with the help of the Consumer Fair, Omron's comprehensive strength and innovative scientific and technological achievements in the field of health can be better demonstrated to consumers and partners.

  Hu Guoran, representative of Faberge Greater China, pointed out that although Faberge has just entered the Chinese market, he is full of confidence in it. In the future, it will adjust its products according to Chinese characteristics, such as the zodiac and panda, to meet the needs of Chinese consumers.

  Long Guoqiang, deputy director of the Development Research Center of the State Council of China, said during the Consumer Expo that the consumption rate of Chinese residents is less than 40%, which is significantly lower than that of countries with similar development levels in the world, and even lower than developed countries. China has great potential for expanding consumer demand.

  Vice Minister of Commerce Wang Bingnan stated at the Consumer Expo that the holding of the Consumer Expo as scheduled has fully demonstrated China’s firm determination to expand its opening up, share China’s big market, and jointly promote the recovery of the world economy.

Judging from the situation of the first consumer expo, foreign-funded enterprises and foreign brands are very active, which fully shows that foreign-funded enterprises are optimistic about the Chinese market and have full confidence in the prospects of China's economic development.