Zhejiang enterprises look to expand imports at Hainan expo

Zhejiang News, a media outlet in East China's Zhejiang province, interviewed a number of members of the Zhejiang trade mission to the ongoing China International Consumer Products Expo in Haikou, capital of Hainan province.

In front of a dairy manufacturer's exhibition booth, Zhang Bin, chairman of Zhejiang Native Produce & Animal By-Products I/E Group Co, told reporters that his company posted as much as 5 billion yuan ($778 million) in annual exports, but only 1 billion yuan in imports.

Zhang said one purpose of his trip to the expo was to find new international brands for meat, red wine, and dairy products and expand the company's sources of imports in these key fields. He also expressed hope to begin importing coffee, Spanish ham, and brandies from the expo's exhibitors.

Zhang noted that Zhejiang Native Produce & Animal By-Products I/E Group Co is striving to reach 5 billion yuan in annual imports within the next five years so as to achieve a balance between imports and exports.

Many Zhejiang importers at the expo have shown a keen interest in luxury goods and niche brands, which are increasingly in favor with Chinese consumers. "I heard that the Hainan expo has attracted 1,300 international brands, many of which are well-known luxury brands. That's exactly why I came here," said Chen Jian, a senior manager of Imporium City, a large-scale business complex based in the city of Pinghu, Zhejiang. He told reporters that Imporium City mainly sold imported daily chemical products, maternity and infant products, and other goods for daily use, but has seen increased demand for upscale watches and bags in recent years. He also found that consumers are increasingly receptive to niche brands that meet personalized needs.

Among the Zhejiang buyers at the expo are several e-commerce platforms. Ningbo Leadgo E-Commerce Co, founded in 2016, reached 4.3 billion yuan in annual imports in 2020. The company's staff at the expo told reporters that they are in search of consumer brands that fit into a live-stream e-commerce model and could possibly sell well on the Leadgo platform.