HAIKOU — The fifth China International Consumer Products Expo, held in the tropical island province of Hainan, has reaffirmed the country's position as a vital marketplace for global enterprises.

This year's expo has drawn record participation from over 4,100 brands across 71 countries and regions, reflecting the expanding international appetite for engagement with China's vast consumer market and its evolving landscape.

The United Kingdom, this year's guest country of honor, brought 27 companies spanning fashion, beauty, and other fields. Flagship brands like Burberry and Bentley showcased their latest offerings, with a strong emphasis on green technology and sustainable development.

"I have seen the tremendous innovation and growth taking place within China's economy in recent years, not least in digital technologies, life sciences and green energy," said Douglas Alexander, minister of state of the UK's Department for Business and Trade.

These areas present significant opportunities for both economies, he said, emphasizing the UK's commitment to deepening economic ties with China.

Burberry Greater China President Josie Zhang noted the value of the expo in facilitating foreign firms to engage with local partners. "By deepening cooperation with various stakeholders, we aim to explore new market opportunities and achieve mutual growth," she said in a written interview with Xinhua.

Slovakia also made a notable debut with its first-ever national pavilion.

Andrea Jancekova, CEO of Slovak brand Truscada, praised the expo's global reach. "You can have a good connection also with people from all over the world."

Slovak Deputy Prime Minister Denisa Sakova highlighted the expanding trade ties between the two countries. "China is one of our most important trading partners outside the European Union," she said. "The growing volume of trade is a testament to the strength and dynamism of our economic relationship."

Among the newcomers was Japan's Eda Livestock Co Ltd, known for its premium Wagyu beef. "We plan to establish a foreign trade company in Hainan as our strategic entry point into the Chinese market," said Rei Tanaka, the firm's chief operating officer, who participated in the CICPE for the first time.

This year's expo also gathered an array of top-tier global luxury brands. Richemont's TimeVallee debuted as an independent exhibitor, while LVMH and Kering Group brands made notable appearances, reflecting confidence in China's premium consumption growth.

"Luxury consumers in China are significantly younger than those in many overseas markets, and that presents a major opportunity for us," said Nancy Liu, president of luxury travel retailer DFS China. The company has introduced tailored services to cater to the expectations of these emerging consumer groups.

Beyond luxury, sectors like automotive technology are repositioning China from being a mere sales destination to a research and innovation hub.

Amid China's technological innovation momentum, this year's expo for the first time introduced dedicated zones for artificial intelligence and the low-altitude economy, showcasing cutting-edge technologies and products from leading tech companies around the world.

"Since 2020, Volkswagen has invested over 10 billion euros ($11.36 billion) in China. In particular, we established a research and development center in China in 2023, the largest outside Germany, "said Su Bahong, vice-president of Volkswagen Group China. "This shows a trend where China is becoming the global technological innovation hub."

Xinhua