Italian exhibitors in Hainan bullish on Chinese market

A visitor learns about jewellery displayed at the second China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, July 30, 2022. (Xinhua/Guo Cheng)

HAIKOU, July 30 (Xinhua) -- At the second China International Consumer Products Expo held in the southern Chinese city of Haikou, one can taste various Italian delicacies and admire an Italian luxury yacht without going to Italy.

Over 70 brands from Italy covering food, wine, jewellery, clothing and yachts have become an instant hit among visitors at the event in Hainan Province. Confident in the Chinese market, Italian companies hope to tap into the vast opportunities by attending the expo.

At the China-Italy Chamber of Commerce Company Pavilion, over 100 products from four companies are on display, including VM Fine Wines.

Piero Vio, VM Fine Wines manager for China's Sichuan area, spoke highly of his first experience of the Hainan expo.

"I hope to meet not only private clients, but also some distributors," said Vio, adding there are a lot of opportunities for every company and also for wine importers.

Vincenzo Raffa, South China Manager of the China-Italy Chamber of Commerce, said Italian companies will find a lot of business opportunities here in Hainan.

"The Chinese consumer market is unimaginable," he said. "It's very, very big, and for Italian companies that want to invest in China, this is the right moment, the right time to invest in South China, especially in Hainan, thanks to the free trade port policy."

By 2025, the whole island of Hainan will have become a free trade port.

"So we have very high expectations, and we are working with the local institutions to ensure that Italian companies have an even better presence at the Hainan expo next year," he said.

The Ferretti Group, a leading yacht company in Italy, has participated in the China International Import Expo on four occasions. Now, it is taking part in the Hainan expo for the first time, bringing two full-size yachts and three models of its latest creations.

Danielle Chen, chief representative of Ferretti Group's representative office in Shanghai, said Hainan boasts unique resources for the yacht industry and has issued new regulations to promote the industry, which is very exciting news for the entire industry.

The regulations to promote the industry in the Hainan Free Trade Port became effective this July, marking the country's first local legislation on the yacht industry. Several measures have been proposed to encourage the innovation and development of the industry on the island.

"The yacht industry is an emerging sector of China's fast developing economy and we feel it has a great potential, as China has a long coastline and a very strong economic strength," Chen said.