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Economy

Multinational enterprises are optimistic about China's consumer market and potential

2023-04-11   

On the 10th, a coffee shop jointly operated by Indonesian coffee brand Fireboat Coffee and Hainan local brand Moushan Coffee opened in Haikou, marking the beginning of the layout of Fireboat Group, Indonesia's largest coffee company. On that day, the third China International Consumer Goods Expo opened in Haikou, with over 3300 consumer boutique brands from 65 countries and regions participating, including nearly 1800 brands in the international exhibition area. For the first time this year, Indonesia Fireboat Group has exhibited its coffee, food and other products. Optimistic about China's vast consumer market and strong consumption potential, more and more multinational enterprises are using practical actions to cast a vote of trust in the Chinese economy. Whether it is the recent global wave of multinational company executives' visits to China, or Tesla's announcement of increased investment and the construction of energy storage super factories in China, all reflect the optimism of multinational companies towards the Chinese economy, hoping to participate in China's economic construction and share the dividends of China's economic growth. The Consumer Expo is full of opportunities for us, "said Robin Setiyono, Chief Operating Officer of Fireboat Coffee International. By bringing coffee to the Consumer Expo, we can introduce our company and products to Chinese consumers, as well as new ways to taste Indonesian coffee. Hainan is a strategic location for us to enter the Chinese market, allowing our products to be understood by most Chinese consumers, "Setiyono said, hoping to use the Consumer Expo platform to find potential partners and further explore the Chinese market. Setiyono stated that China has huge market potential and is one of the important export countries for its company. As consumer purchasing power increases, Chinese consumers are more inclined towards high-quality products. In addition to "first time customers" like Indonesia Fireboat Group, there are also many "repeat customers" at the Consumer Expo. In the past two years, 52 internationally renowned brands and leading enterprises, including the US Taipaisiqi Group, have successively landed in Hainan, transforming from exhibitors to investors. After participating in the first Consumer Expo, Tai Pei Si Qi Group officially established its China Tourism Retail Headquarters in Haikou in April 2022. Currently, it has opened 9 duty-free stores and 4 retail stores in Hainan. Hou Xiaofeng, Senior Director of China Tourism Retail at Tai Pei Si Qi (Hainan) Group Co., Ltd., said that the Consumer Expo is an important window for global high-end brands to accelerate their entry and expansion into the Chinese market, bringing important new opportunities for the development of the global market. Hou Xiaofeng stated that the development potential and resilience of the tourism retail market in Hainan are great, and Tai Pei Si Qi is confident in expanding the tourism retail market in Hainan. We plan to open more than 10 new retail and duty-free stores within the next 3 years, "he said. (New News Agency)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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