KOTRA Hosts Economic Cooperation Plaza Linked to China Hainan Consumer Goods Expo

Seeking Economic Cooperation Opportunities in China's Free Trade Port Hainan

[Asia Economy Reporter Park Sun-mi] KOTRA announced on the 26th that it will hold the ‘Korea-China (South China) Economic Cooperation Plaza’ in conjunction with the ‘2nd China (Hainan) International Consumer Goods Expo’ held in Haikou City, Hainan Province, China.

Hainan, where the expo is held, is the 12th designated pilot free trade zone among China’s 21 free trade pilot zones, and it is the first and only region in China where the entire island is designated as a free trade port, rapidly developing its duty-free economy.

KOTRA Guangzhou Trade Center will seek cooperation measures between Korea and China and expand opportunities for consumer goods to enter the Chinese market by utilizing the Hainan Free Trade Port policy and the developing duty-free economy through ▲participation in the exhibition and operation of the national pavilion ▲holding Korea-China economic cooperation forums according to Hainan Free Trade Port and duty-free policies.

This expo, now in its second year, is a consumer goods specialized exhibition approved by the Chinese Ministry of Commerce to support the Chinese government’s Hainan Free Trade Port development plan and the cultivation of the duty-free industry.

At the national pavilion organized by KOTRA, a total of 90 promising consumer goods companies will participate, including 19 individual participants and 71 companies in the joint promotional pavilion, showcasing a variety of exhibitions and promotions. Major participating items include cosmetics, luxury clothing, red ginseng, kitchenware, jewelry, alcoholic beverages, and juice extractors, with excellent consumer goods products displayed as samples. In addition, KOTRA collaborates with the Korea Tourism Organization to operate a Korean culture experience pavilion, making it more accessible to major Chinese duty-free shops and consumer goods buyers.

Meanwhile, the Korea-China Economic Cooperation Forum will focus intensively on Korean companies’ entry into Hainan and cooperation measures. It will cover in detail the investment environment of Hainan Province, policies for attracting foreign-invested enterprises, introduction of major industrial complexes in Hainan including comprehensive bonded zones, and cooperation opportunities with Korean companies according to Hainan’s duty-free enterprise policies.

A KOTRA official stated, "This expo is expected to be an opportunity to expand entry into the Chinese duty-free and consumer goods market by utilizing key duty-free policies such as Hainan’s ‘Yidao Duty-Free,’ with many Chinese state-owned duty-free enterprises participating."

This content was produced with the assistance of AI translation services.