CIPCE provides great opportunity for promoting Pakistani trade and business: Officials

BEIJING, April 8 (INP): China International Consumer Products Expo (CIPCE) that is a regular process will provide great opportunities to Pakistani businessmen to attract Chinese market.

Gwadar Pro reported on Thursday quoting government officials that
the first CIPCE focuses on the strategy of expanding domestic demand, bases on the location advantages of Hainan Free Trade Port, and aims to connect domestic and international markets,

The officials stated this as China announced that it will hold such an expo in Haikou from May 7 to 10.

Around the construction of Hainan international tourism consumption center, the expo will not only provide exhibition and trading opportunities for consumer products from various countries to enter the Chinese market, but also create a platform for high-quality products from China and other countries to sell globally, said Shen Danyang, executive vice-governor of Hainan.

The expo will cover an area of 80,000 square meters and feature fashion, jewelry, food and supplements, hospitality and professional services.

The organizer will invite world-renowned consumer goods brands to participate in the expo to build a high-end trading platform with multiple forms of business and categories. It is expected to be the largest consumer products exposition in the Asia-Pacific region, according to organizers.

The expo’s international exhibition area will cover 60,000 square meters, accounting for 75 percent of the total venue area. It features 1,165 brands by 630 exhibitors from 69 countries and regions, with Switzerland serving as guest country of honor.

On June 1, 2020, the Central Committee of the Communist Party of China and the State Council issued the Master Plan for the Construction of Hainan Free Trade Port, which proposed that overseas exhibits would enjoy duty-free import and sales during CICPE.

Relevant departments are formulating a tax exemption policy for exhibits at the expo. During the exhibition period, overseas exhibits of a certain quantity and a certain amount can enjoy duty-free import and sale, said Han Shengjian, director-general of Hainan Provincial Bureau of International Economic Development.

Different from the off-shore tax exemption policy for Hainan FTP, both tourists, island residents, and people participating in the expo can all enjoy the tax exemption policy during the expo.

The duty-free goods cannot be taken away immediately after purchase, they can only be delivered by a delivery service or picked up at the port of departure. While products can be taken away immediately during the expo, according to Shen.

In addition, the expo’s duty-free policy and Hainan’s offshore duty-free policy are separate, which means that consumption at the expo is not included in the RMB 100,000 quota for offshore duty-free shopping.

Hainan Island has been opening its arms to the rest of the world. The establishment of Hainan FTP makes it clear to all that China’s door of opening-up will not be closed and will only open even wider.

China’s huge potential of consumption is attracting more international companies to further deepen investment and trade cooperation with China via the platform Hainan has established.