Consumer goods expo gives digital renminbi a boost
By He Wei and Ma Zhiping in Haikou, Hainan province | chinadaily.com.cn | Updated: 2021-05-08 14:04
China Construction Bank accepts digital currency payment via an automated coffee stand at the China International Consumer Products Expo in Haikou, Hainan province on May 7.- China Daily
BEIJING (China Daily/ANN): China is turbocharging the pilot use of digital currency nationwide through an array of campaigns to boost consumption.
One latest example is the promotion of digital renminbi at the ongoing China International Consumer Products Expo in Haikou, capital city of Hainan province, where banks encourage the adoption of the new function through various incentives like steep discounts on certain merchandise.
Global brands tap Chinese market via consumer products expo
By: Xinhua
Hainan: As the COVID-19 pandemic continues to rage and the world economy drags on, the first China International Consumer Products Expo (CICPE) marks a major step by China to further open its market and bolster the global economy.
The four-day event opened on Thursday in the southern island province of Hainan. It is the first-ever expo focusing on quality consumer goods held by China at the national level.
Japanese cosmetics company Shiseido was the first cosmetics company to sign up for the expo. It also participated in the China International Import Expo (CIIE) held in Shanghai in 2019 and 2020, attracted by the world s most promising consumer market.
World s only emerald diamond jewelries on display at consumer goods expo
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A set of Jewelry brand LARWINER s green emerald diamond necklaces and earrings worth nearly 38 million dollars are on display at the China International Consumer Products Expo in Haikou, Hainan Province on May 8, 2021. (Photo: China News Service/ Luo Yunfei)
The handmade Taiga emerald jewelry set is called Mother of Earth, indicating a gift of nature. It is the only set in the world.
A set of Jewelry brand LARWINER s green emerald diamond necklaces and earrings worth nearly 38 million dollars are on display at the China International Consumer Products Expo in Haikou, Hainan Province on May 8, 2021. (Photo: China News Service/ Lin Shijie)
2021-05-08 13:00:52 GMT2021-05-08 21:00:52(Beijing Time) Xinhua English
HAIKOU, May 8 (Xinhua) The Hainan free trade port (FTP) will likely become the world s biggest duty-free market in the near term if it continues on its current growth curve, according to a report jointly released by KPMG China and The Moodie Davitt Report.
By the end of 2020, offshore duty-free business in Hainan was worth approximately 5 billion U.S. dollars, boosted by an enhanced shopping policy, said the report. It was released on the sideline of the ongoing inaugural China International Consumer Products Expo.
In July 2020, the province increased its annual per capita duty-free shopping limit from 30,000 yuan (about 4,638 U.S. dollars) to 100,000 yuan.