The inaugural China International Consumer Products Expo, which will be held from May 7 to 10 in Haikou, South China's Hainan province, will serve as a platform of showcasing and trading for world-class boutique brands, welcoming all countries to share the Chinese market for common global prosperity, Economic Daily reported on Thursday.

Foreign-funded enterprises and brands account for the majority at the expo. The international exhibition area of the expo will cover 60,000 square meters, accounting for 75 percent of the total exhibition area, said Shen Danyang, executive vice-governor of Hainan province. With a total exhibition area of 80,000 square meters, the expo is expected to become the largest boutique exhibition in the Asia-Pacific region.

At present, the expo has attracted 2,628 brands from home and abroad, including 1,365 international brands from 69 countries and regions. South Korea topped the list in terms of the number with 124 brands, followed by 99 brands form France, 89 from Japan, 68 from the United States, and 56 from Italy, Xinhua reported on Thursday.

In terms of investment promotion, it is expected that the exhibition will attract more than 20,000 professional buyers outside Hainan, and over 200,000 visitors of all kinds, Economic Daily reported.

During the expo, international brands from Switzerland, France, Japan, the United States, the United Kingdom and others will hold 72 debut events and release hundreds of new products covering more than 20 categories. For domestic exhibitors, 10 places including Shanghai, Fujian and Guangdong provinces will also hold boutique products release events.

The tax exemption policy has been introduced for overseas exhibits during the expo. And customers purchasing related imported exhibits can enjoy the tax exemption.

New business models such as cross-border e-commerce and livestreaming will be fully displayed at the expo. Some well-known domestic e-commerce platforms will participate as professional buyers to help foreign brands better explore the Chinese market. And some international e-commerce platforms will provide channel to promote domestic consumer boutique products. Besides, livestreaming marketing by online influencers will also be hold during the expo, according to Zhu Xiaoliang, director of the department of consumption promotion at the Ministry of Commerce.

As the country's first national fair featuring consumer boutique products, the expo is a major measure for China to further open up, said Wang Wei, director of the Institute of Market Economy, Development Research Center of the State Council.

The expo demonstrates the Chinese government's firm determination to promote high-level opening-up. It also fully shows that foreign-funded enterprises are optimistic about the Chinese market and have full confidence in China's economic development, said Wang Bingnan, vice-minister of commerce.

"The expo will be the key for Irish companies to open the Chinese market." Liu Yupeng, chairman of the Industry and Commerce Association of Ireland, said. Liu also hoped that Irish companies could gain a deeper understanding of the Chinese market and consumer demand via the consumer products expo and the association.