New business models discussed at China Int'l Consumer Products Expo
- By Wang Yiming
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E-mail China.org.cn, May 10, 2021
The "Global Consumption Innovation & Duty Free and Travel Retail Conference" was held at the ongoing China International Consumer Products Expo, on May 7, in Haikou, the capital of Hainan province in China.
The conference was co-organized by the Hainan Provincial Bureau of International Economic Development and China Duty Free Group (CDFG). Feng Fei, governor of Hainan province; Wang Bingnan, vice-minister of commerce; and Wan Min, chairman of China Tourism Group (CTG) attended the conference.
Chen Guoqiang, general manager of CDFG, joined by Fabrice Megarbane, president of L'Oréal North Asia Zone, and celebrity online shopping anchor Wei Ya, shed light on new consumption and business forms during a round-table discussion on the topic of duty free.
Centering on the theme of "new consumption, new platforms, and new opportunities," the conference aimed to pool wisdom for the development of global consumption innovation, duty free retail, the tourism retail industry, and creating new markets for China's consumption, said Wan Min in his speech.
Wan noted that CTG's broad business scope included travel services, retail, transportation, travel finance, hotels, and cruise ships. He said that the enterprise had seized opportunities brought by China's new development paradigm and will help build Hainan into an international tourism island and an international tourism consumption center.
In the roundtable discussion session, Chen Guoqiang shared his views on promoting the development of the offshore duty-free shopping industry while China speeds up the construction of Hainan Free Trade Port.
Chen said that Hainan had now become a popular destination for global investment and consumption, with enormous development opportunities and a huge tourism retail market. He emphasized that CDFG will adjust its business development model under the leadership of its parent company CTG and actively develop new forms of travel retail.
Slated for May 7-10 and covering 80,000 square meters, the expo has attracted 648 overseas companies and 1,365 brands from 69 countries and regions, as well as 857 enterprises and 1,263 brands from China.
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