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China announces trade fair to boost Hainan’s duty-free status

03/25/2021| 3:28:12 PM|

The first edition of the China International Consumer Products Expo, also known as the Hainan Expo, will take place from May 7 to May 10.

China announced on Wednesday plans to hold a huge trade fair in Hainan as part of an effort to turn the tropical island into a duty-free destination, while sending a message that the country’s appetite for Western consumer goods was undiminished despite rising geopolitical tensions.

Beijing also hopes the event will spur consumer spending, which is recovering slowly from the coronavirus pandemic, and is at the heart of the government’s “dual-circulation” strategy that aims to reduce China’s dependence on overseas markets and technology for long-term development.

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TAGS: China | Hainan | duty-free | coronavirus
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