Coconut forest and sea charm, sunny beach. The 4th China International Consumer Goods Expo (hereinafter referred to as the Consumer Expo) is currently underway. The Consumer Expo is an important platform for the construction of Hainan Free Trade Port, and also an important window to showcase the new development and achievements of Hainan Free Trade Port. Since the first Consumer Expo was held, the influence of this global consumption feast has been continuously expanding, and the spillover effects have been continuously released. Coupled with the high-level opening-up policy advantages of the Free Trade Port, it has attracted many domestic and foreign consumer brands to gather in Hainan. At the same time, the Consumer Expo has also promoted more exhibitors to become investors to settle in Hainan, bringing vitality to the high-quality development of Hainan Free Trade Port. The Consumer Expo continues to enhance Hainan's consumer heat as the largest consumer boutique exhibition in the Asia Pacific region. In recent years, the quality, effectiveness, and influence of the Consumer Expo have significantly improved. For Hainan Free Trade Port, which is accelerating the construction of an international tourism consumption center, its significance is self-evident. At this year's Consumer Expo, exhibitors from the duty-free shopping field have expanded their exhibition scale. This year, Haikong Duty Free has built a larger exhibition booth, featuring over 70 brands and nearly 400 exhibits at the Consumer Expo. At the same time, Haikong Duty Free also carried out activities such as "Consumer Expo Limited Brand Week" and "Free Shuttle" during the exhibition period. On April 15th, Mr. Sun, a consumer who was selecting items at the duty-free counter, told reporters that "the promotion efforts of duty-free shops are not small, and many categories have launched discount activities, and the prices are indeed very attractive." In recent years, there has been a surge in duty-free shopping and consumption in Hainan. In 2023, Haikou Customs supervised a total of 43.76 billion yuan in duty-free shopping on outlying islands, an increase of 25.4% compared to the previous year; The number of shoppers reached 6.756 million, an increase of 59.9%. Zhong Xiaoyang, Managing Partner of Sustainable Development Strategy and Transformation at PwC China, stated that it is expected that the annual compound growth rate of Hainan's duty-free market size will reach 91% from 2023 to 2025, and it will grow to 160 billion yuan by 2025. After the closure, with the exemption of tariffs and the promotion of turnover tax reform, the gap between duty-free operators and ordinary stores will be further narrowed, and the consumption potential is expected to be further released. The combination of Consumer Expo and Free Trade Port has made Hainan a hot investment destination. With the continuous successful hosting of Consumer Expo, more and more exhibitors are investing in factories or setting up flagship stores in Hainan. Having a positive outlook on the development prospects of Hainan Free Trade Port, some exhibitors have even relocated their headquarters in the Asia Pacific or China regions to Hainan. Participating in the Consumer Expo for four consecutive sessions, the pace of exhibitor Huaxi Biotechnology's layout in Hainan continues to accelerate. In April 2023, Huaxi Biotechnology (Hainan) Science and Technology Industrial Park officially opened. In December, the Hainan Provincial Key Laboratory of Regenerative Medicine Technology and Material Transformation, which Huaxi Biotechnology applied for, was officially unveiled. This is the first provincial-level key laboratory established by a private enterprise in Hainan Province. The person in charge of Huaxi Biotechnology stated that Hainan Free Trade Port is an important strategic layout for Huaxi Biotechnology, and the company attaches great importance to investment and development in Hainan. Hainan Free Trade Port can help enterprises better "bring in and go out", and welcome broader global markets and development opportunities. The spillover effects of the Consumer Expo, combined with the accelerated release of high-level opening-up policy dividends, have made Hainan a hot investment destination.
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