The first China International Premium Consumption Month is set to launch in China's financial hub Shanghai on Monday, said an official from the Ministry of Commerce on Friday. Briefing the media on the event's preparation at a press conference in Beijing, Vice Minister of Commerce Sheng Qiuping told reporters the event has been organized by the ministry and five international consumption center cities, namely Shanghai, Beijing, Guangzhou, Tianjin and Chongqing. "This year's consumption month is the most important part of the 2024 Consumption Promotion Year, and will give full play to the exemplary role of those cities positioned as 'international consumption centers'. The consumption month will adopt a '1+4+N' mode, with '1' referring to a premium products launch season, '4' referring to four consumption fields, and 'N' referring to a number of promotional events," said Sheng.
According to Sheng, the activities will feature designated areas for international boutiques and domestic trendy products in key pedestrian streets, business districts and shopping malls, along with various promotional offers. Events such as the Global Food Festival, Premium Food Week and Chinese Food Festival will also take place. The five cities will unveil routes for City Walk explorations, inbound tourism, health-promoting tourism and cruise tourism, as well as attracting tourists with sports events and performances. A number of boutique exhibitions showcasing traditional culture, trendy art, home expo, as well as cultural performances and sports events are also being scheduled, Sheng added.
China's first int'l premium consumption month to start in Shanghai: official
Global buyers have shown keen interest in seeking out China's EV products and technology at the 136th session of the China Import and Export Fair, popularly known as the Canton Fair.
The Canton Fair has been underway in south China's Guangzhou since mid-October, attracting nearly 200,000 overseas buyers from 212 countries and regions in the first two phases that concluded on Oct 27.
Among the wide range of exhibits, new energy technology and smart travel solutions have garnered lots of attention.
"Besides the newest designs, China also has been innovating in the electrical vehicle [sector]. I think China is ahead when talking about innovation and technology. So, all the world now is looking to China for development and follow the trends that China has been setting," Brazilian purchaser Daniela Sena told China Global Television Network (CGTN).
The new energy exhibition area has emerged as a key focus at the first phase of the Canton Fair, drawing a large crowd of visitors eager to explore the latest EV products.
"In terms of technology, solar and all the rest, every country is coming to China to learn, because China is now above every other European country in terms of energy and solar. And their prices are cheaper than the western world," said Baron Onuakalusi, founder and director of China-based clothing company Obaron International Resources Limited, who also shows a keen interest in the EV sector.
Despite strong opposition from several member states, the European Commission has finalized its decision to levy tariffs on EVs imported from China, a move criticized as protectionist and harmful to European consumers.
"Eventually, [it's] the customer who basically pays for the tariff, so all the taxes are taken by the community," said Polish buyer Mikolaj Czausow.
Launched in 1957, the biannual Canton Fair is China's largest trade fair and widely seen as a barometer of the country's foreign trade. It takes place every spring and autumn in Guangzhou, typically featuring three phases per session. The third phase of the 136th Canton Fair kicked off on Thursday and runs for five days.
Int'l buyers show keen interest in Chinese EV technology at Canton Fair
