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Ripple effect of the first CICPE expected to continue to expand

Release time: 2021-06-03 16:21        Source: hiHainan

The first China International Consumer Products Expo, also known as the Hainan Expo, has boosted growth in consumer spending, and the ripple effects of the Expo are expected to continue to expand. The number of visitors to Hainan increased significantly compared with the same period last month, and from May 1 to 10, sales at Hainan's nine island departure duty-free stores totaled 2.19 billion yuan, close to double last year’s figures.

From May 5 to 9, visitor numbers at Hainan shopping centers increased by 21.1% compared with the same period last month, by 27.6% compared with the same period of last year, and by 5% compared with the same period of 2019.

Out of the 2.19 billion yuan in sales between May 1-10 at Hainan’s island departure duty-free stores, duty-free sales accounted for 1.89 billion yuan, a year-on-year increase of 2.91 times. There were 360,000 duty-free shoppers, a year-on-year increase of 1.96 times, and the total number of duty-free products sold was 1.792 million, a year-on-year increase of 1.48 times.

In addition, companies and representatives from various industries participating in the first Expo have conducted extensive research into Hainan’s Free Trade Port policies, and are considering setting up production or operation centers in Hainan. This will promote the further optimization  and improved quality of China's supply structure.


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