The Fifth China International Consumer Products Expo (CICPE), just concluded on the island province of Hainan, has shown a shift in import sourcing as Chinese buyers explore new international partnerships to confront trade risks and capitalize on Hainan's status and policies as the country's largest Free Trade Port.
CICPE is the sole state-level exhibition dedicated to consumer goods. This year's expo was held in the backdrop of the tariff war launched by the U.S. Trump administration, including a staggering 145 percent duty on Chinese exports.
The one-week export attracted over 1,700 enterprises and 4,100 brands from more than 70 countries and regions. They allowed Chinese buyers and businesses fresh opportunities and broader markets to look beyond American products and source competitive alternatives and quality upgrades.
"Since the U.S.-China trade war began [in 2018], we have stopped importing American soybeans. In fact, we now have several alternative sources. We have also optimized suppliers and supplying countries," said Zhang Hui, CEO of Hainan Ausca International Oils and Grains Co., Ltd.
Thanks to the zero-tariff policy of the Hainan Free Trade Port, the company's output value this year is expected to exceed eight billion yuan, Zhang said.
"South African wine is well-positioned to replace many high-quality wines from Europe and the United States. In terms of quality, production standards, processing, and flavor profile, it may even better cater to the preferences of Chinese consumers with more affordability. Chinese people will see cheaper, higher-quality products and better taste wine," said Zhu Zhiwei, executive vice president of Hainan Free Trade Zone Dehang Group.
New markets bring new values to Chinese buyers and consumers.
"More than 80 percent of our beef comes from British breeds, Angus and Herefords. It's very comparable to the breeds from the U.S. and North Australia. So very high-quality products. What really caused the attention of a foreigner of Hainan is that it's not only a tourist destination but an international hub for business," said Lucas Davila, a market intelligence expert at the National Meat Institute of Uruguay.
"We brought South African wines to the export. There's been some wine tastings happening, people have been enjoying. There have been orders that have already been coming through. So I think wine is going to be definitely one of the biggest products that we would be able to export to China," said Lebogang Ramokgopa, chairman of Ivory Agri Solutions.
Hainan's favorable policies will offer more global suppliers better access to China's vast consumer market, said an economist attending CICPE.
Chinese buyers seek new trade partners at Hainan consumer products expo
Chinese Foreign Minister Wang Yi said on Wednesday that BRICS countries need to strengthen unity and cooperation to act as the most reliable force in safeguarding the legitimate rights and interests of developing countries.
Wang, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the Office of the Central Commission for Foreign Affairs, made the statement at the 15th Meeting of BRICS National Security Advisers and High Representatives on National Security in the Brazilian capital of Brasilia.
He stated that once-in-a-century changes are unfolding across the world at a faster pace, with new challenges, changes, and problems constantly emerging.
Yet regardless of how the international landscape changes, peace and stability remain a common pursuit of the international community, development and prosperity are always a common expectation of all countries, and seeking strength through unity among the Global South is always an unstoppable historical trend, he said.
Wang said that under the new global circumstances, more and more countries are willing to listen to the voice of BRICS and hope to join the BRICS family. The development of BRICS represents the growth of peace forces, the strengthening of development forces, and the empowerment of the forces of justice in the world.
BRICS countries must stand at the forefront of the times, strengthen unity and cooperation, demonstrate the assumption of responsibility, and promote the significant role of greater BRICS cooperation, to act as the most reliable force in safeguarding the legitimate rights and interests of developing countries, he noted.
Wang stated that a transactional approach in international politics and weaponizing global trade will only aggravate the trust crisis among countries and jeopardize global security.
Standing at the crossroads of history, BRICS countries must provide a clear answer: should they allow unilateralism to spread unchecked, or steadfastly champion for multilateralism, Wang said.
Concession leads nowhere and unity is where the hope lies, he added.
Wang said that BRICS countries should hold high the banner of multilateralism, take the lead in safeguarding the international system with the United Nations at its core and the multilateral trading system with the World Trade Organization at its core, and promote development of the international order in a more just and reasonable direction.
Other parties at the meeting agreed that BRICS countries should build consensus and make joint efforts to oppose all forms of bullying, interventionism and tariff abuse, adhere to multilateralism, defend the common interests of the Global South, and work together to build a multipolar world of peace, security, fairness and justice.
BRICS countries should become reliable force in safeguarding developing countries' rights: FM
