Source: China State Council Information Office
The release of Chinaâs consumption market potential and its wider opening-up will help boost the development of the world economy, experts said at the ongoing China International Consumer Products Expo.
China is expected to become the worldâs largest goods consumption market during the 14th Five-Year Plan period (2021-2025), and the worldâs biggest services trader by 2035, said Chi Fulin, head of the Hainan-based China Institute for Reform and Development, at an expo forum.
Chinaâs rate of contribution to global economic growth is likely to be maintained within a range of 25 percent to 30 percent over the next five to 10 years, said Chi.
2021-05-10 04:11:59 GMT2021-05-10 12:11:59(Beijing Time) Xinhua English Photo taken on May 9, 2021 shows lacquerware on display during the first China International Consumer Products Expo in Haikou, capital of south China s Hainan Province. Domestic exhibits with Chinese characteristics are quite a sight at the Expo, not only meeting the needs of consumers, but also reflecting the unique charm of Chinese culture. (Xinhua/Ding Hongfa) Photo taken on May 9, 2021 shows carved-bamboo pen containers on display during the first China International Consumer Products Expo in Haikou, capital of south China s Hainan Province. Domestic exhibits with Chinese characteristics are quite a sight at the Expo, not only meeting the needs of consumers, but also reflecting the unique charm of Chinese culture. (Xinhua/Ding Hongfa)
2021-05-10 09:43 By: Xinhua
Workers labor at the construction site of Lingshui Li An international education innovation pilot zone in Li An peninsula of Lingshui Li Autonomous County, south China s Hainan Province, April 5, 2021.(Xinhua/Guo Cheng)
HAIKOU, May 9 (Xinhua) The Chinese economy has entered a stage of high-quality development, and the southern province of Hainan is spearheading the country s efforts to establish its new development paradigm.
With the first China International Consumer Products Expo underway in Hainan, the country is giving full play to the advantages brought by the Hainan free trade port.
NEW DRIVING FORCE
The Hainan free trade port has demonstrated China s determination to push ahead with its high-level opening-up, and will set an example for high-quality development nationwide, said China s Vice Minister of Commerce Wang Bingnan during the expo.
DFS & Shenzen Duty Free ‘pave the way’ for new opportunities
DFS Group and
The two companies held a ceremony to celebrate their partnership at the
Haikou International Convention and Exhibition Centre to coincide with the
China International Consumer Products Expo in
Hainan.
The two companies opened the first phase of the Times DF x DFS Haikou Mission Hills Duty-Free Complex in January. The second phase is due to be unveiled in the coming weeks, with the companies promising “even more expanded product offerings and experiences”.
Once completed, the complex will cover more than 50,000sqm.
“We are proud to continue to support the development of the Hainan Free Trade Port and help to grow the duty free industry in Hainan together with our partner DFS,” said said
The Chinese economy has entered a stage of high-quality development, and the southern province of Hainan is spearheading the country s efforts to establish its new development paradigm.
With the first China International Consumer Products Expo underway in Hainan, the country is giving full play to the advantages brought by the Hainan free trade port.
The Hainan free trade port has demonstrated China s determination to push ahead with its high-level opening-up, and will set an example for high-quality development nationwide, said China s Vice Minister of Commerce Wang Bingnan during the expo.
The country first proposed the establishment of a free trade zone in Hainan in 2018 and began construction of the Hainan free trade port last year.