(The First Consumer Fair) Global Brand Talk Performance: Lamenting China's Economic Recovery

  China News Service, Haikou, May 9th (Reporter Wei Wei) The scorching sun cannot stop the enthusiasm of the exhibitors of the first China International Consumer Goods Fair (hereinafter referred to as "Consumer Fair"), 648 from 69 countries and regions Companies participating in this consumer expo, they are undoubtedly looking at the huge potential of China's consumer market.

  Not long ago, the data released by the National Bureau of Statistics showed that China's GDP in the first quarter increased by 18.3% year-on-year, and the growth rate was among the best among the major economies.

Behind the numbers is the vitality of China's economy.

  Many multinational companies lamented the strength of China's economic recovery in interviews with reporters from China News Service. Resilience, vitality, and confidence are high-frequency words in the interviews.

  "With the strong recovery of China's economy this year, we are full of confidence in the future development." said Sun Jue, managing director of Swarovski Crystal Business Greater China. Benefiting from the rapid control of the epidemic in China, the Chinese market is outperforming. For luxury brands, China is an important growth engine.

  L'Oréal North Asia President and China Chief Executive Officer Fabery said that the new crown epidemic has changed people's lives, but China's economy and consumption have shown strong resilience and vitality.

We have seen that due to China's effective anti-epidemic measures, consumption is rebounding rapidly and recovering quarter by quarter.

  Eduardo Balp, general manager of Diageo's global tax-free channels, said that we are very excited about China's development potential and have witnessed the tremendous resilience of China's economy and consumption.

  He pointed out that China is an important market for Diageo, especially under the new development pattern of "dual cycle", the interconnection and effectiveness of China and the world economy will be further improved.

  The further release of the potential of China's consumer market will also help accelerate the recovery of the global economy.

Swiss ambassador to China Luo Zhiyi said that the new "dual cycle" development pattern that China is implementing will further open up the ultra-large-scale market, which will greatly promote economic recovery after the global epidemic.

Companies from various countries including Swiss companies participating in the Consumer Fair will be better able to get closer to ordinary Chinese consumers, and more companies will benefit from China’s opening up in the future.

  “When we were chatting with clients of multinational companies, almost everyone would say that only the Chinese market was good last year, because the Chinese market not only expanded, but also made money.” KPMG China Retail and Consumer Goods Industry Consulting Lead Partner Qian Yi Xin believes that China has not only promoted the brand development of multinational companies, but has also become an engine for their continued growth. Chinese consumers have played a positive role in the global economic recovery.

  Chi Fulin, Dean of the China (Hainan) Institute of Reform and Development, said during the Consumer Expo that the release of China's consumption potential and the opening of the market will be a major benefit for world economic growth.

It is estimated that in the next 5-10 years, China's contribution to global economic growth is expected to remain at 25%-30%, and it will still be the "main engine" for global economic growth.

The large consumer market of 1.4 billion people is "the world's market, the shared market, and everyone's market."

  Although the new crown pneumonia epidemic has severely impacted the economies of all countries around the world, China's consumer goods imports in 2020 will still achieve a contrarian growth of 8.2%, reaching a scale of 1.57 trillion yuan.

In the first quarter of this year, China's consumer goods imports increased by 18.1% year-on-year, continuing to show rapid growth.

  "This fully demonstrates the huge development potential and attractiveness of China's powerful market, and will provide more business opportunities and broader development space for companies from all over the world." said Wang Wentao, Minister of Commerce of China.