BEIJING: Aqeel Ahmed Chaudhry, a jeweler from Pakistan, was busy showing his dazzling products for the attention of the visitors attending the third China International Consumer Products Expo (CICPE) at the Hainan International Convention and Exhibition Center.
Scheduled from April 10-15, the 3rd Hainan Expo, is being held in Haikou, Hainan, drawing over 3,300 brands from 65 countries and regions across the globe to share the dividends of the world’s second-largest consumer market.
Foreign business leaders and exhibitors including who came from Pakistan, have expressed hope for expanding their presence in the country’s market.
The exhibition marks the first time Chaudhry attending the consumer products expo in China. Living in China for over 10 years, he launched ‘WINZA’ Jewelry in Shanghai’s business district. How can people grab a foothold in China’s increasingly competitive jewelry market? Chaudhry knows it all.
China’s consumer market has observed notable progress in quality and scale over the past decade. Retail sales of consumer goods in China has exceeded 40 trillion (about $ 5.81 trillion) in 2019 and hit 44 trillion lasty year more than double the 2012 number, said director Ministry of Commerce’s consumption promotion department, Xu Xingfeng at the world consumption innovation, duty-free and travel retail conference being organised as part of the ongoing expo.
To ride the wave, Chaudhry signed agreements with Hainan Tourism Investment Duty-Free Co., Ltd. (HTDF) and Zhuhai Duty-Free Enterprises Group Co., Ltd. (Zhuhai Duty Free) to enrich the brand with a new opportunity of offshore duty-free shopping in Hainan.
Back in April 2018, China announced to support Hainan in developing the whole island into a pilot free-trade zone, gradually exploring, and steadily promoting establishment of a free trade port with Chinese features.
According to a master plan regarding the Hainan free trade port released in 2020 by the Chinese authorities, the Hainan Free Trade Port is scheduled to launch independent customs operations across the whole island by end 2025.
“I have already got registered a company in Sanya to prepare for the coming 2025,” Chaudhry mentioned and added, “I am paying close attention to the latest policies.”
Over the past few years, Hainan has made significant strides in promoting itself as a modern free trade port. As one of the country’s major opening-up steps in the recent times, China aims to build its largest tropical island, Hainan into a globally influential and high-level free trade port by the middle of the century. Chaudhry is no exception among the foreign entrepreneurs who will never miss the opportunity to tap a market full of potential. — APP
