The gathering of luxury brands in Beijing stems from the smell of the expansion of imports of Chinese consumer goods.
On February 22, 2011, organized by the China Association of Enterprises with Foreign Investment and the Tianjin Association of Enterprises with Foreign Investment, the "2011 Summit Forum on the Development Prospects and Challenges of China's Consumer Products Market," co-organized by the Intertek Group, was held in Beijing.
Levi's, Burberry, IKEA, Prada, Gucci, Liz Claiborne, Walt Disney, Nike, Apple, Olivia Miller, Abercrombie & Fitch, Swarovski, Bestseller, Philips, Kraft, GlaxoSmithKline CHRD China and other internationally renowned brands and retailers Wait until the field arrives.
The officials of the Ministry of Commerce, the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China and the State Administration for Industry and Commerce of the People's Republic of China attended the meeting and disclosed information on the expansion of China's consumer goods market. This will undoubtedly give more opportunities to foreign consumer brands.
Assistant Minister of Commerce Yu Jianhua stated at the forum that expanding domestic demand, especially increasing household consumption, is a strategic move to adjust the structure and is also an important measure to consolidate China’s response to the financial crisis. Within the expansion, it is necessary to make full use of both international and domestic markets and two kinds of resources. In particular, it is necessary to provide positive incentives for the expansion of domestic demand by increasing imports.
According to reports, in 2011, the Ministry of Commerce will further simplify import management measures and promote trade facilitation through the improvement of import discount interest rates, import credits and other series of promotion policies, so as to achieve balance in import and export trade.
One of the reasons for the potential of China's imported consumer goods is that the import ratio is too low.
In 2010, China has become the second largest importer of goods in the world and the fourth largest consumer goods market in the world after the United States. However, imports of consumer goods accounted for only 3% of the total retail sales of consumer goods in the entire society.
Wang Suwen, director of the Department of Foreign Trade of the Ministry of Commerce, said at the forum that the proportion of imported consumer goods is still low and the market has great potential for development. According to the classification of the UN's BEC, during the “Eleventh Five-Year Plan†period, China’s imports of consumer goods accounted for less than 4% of total imports. Of the US$1.4 trillion imported in 2010, only 4% were consumer goods, and imported consumer goods accounted for only 3% of total retail sales in the country. %.
And Chinese consumers are increasingly interested in foreign brands. It is understood that in 2010, China imported only more than 400 million U.S. dollars in Italian clothing, but it increased by 40% over the previous year; the total amount of French cosmetics imports was less than 400 million U.S. dollars, but it also increased by 40% over the previous year; ASEAN has now become China’s largest food import destination, China imported US$5.6 billion worth of foodstuffs from ASEAN in 2010, an increase of 40%; US cars also achieved rapid development in the Chinese market. In 2010, US imported US cars were nearly US$3.2 billion. 43%.
Wang Shouwen believes that China's efforts to open up the market will increase. At present, China's total import tariff is only 9.8%, further reducing the import tariff on some raw materials and final consumer goods, while the average import tariff of developing countries in the world reaches 46.6%. In terms of non-tariff barriers, China has already adopted an import system to abolish the management of all commodity quotas.
Wang Shouwen stated that in order to further encourage imports, the Ministry of Commerce plans to take multiple measures. One is to establish and improve the import service system and improve the transparency of relevant import policies; the second is to actively organize a series of imported goods exhibitions and expos; the third is to actively support and organize Various forms of investment and trade promotion delegations go abroad for procurement; Fourth, encourage domestic and foreign trade enterprises to establish long-term cooperation mechanisms with foreign consumer goods suppliers, thereby reducing intermediate links and transaction costs; Fifth, accelerate the construction of free trade zones to enjoy the import of consumer goods. The preferential policies. At present, China plans to build 14 free trade zones with 27 countries and regions, of which 10 have signed agreements.
On February 22, 2011, organized by the China Association of Enterprises with Foreign Investment and the Tianjin Association of Enterprises with Foreign Investment, the "2011 Summit Forum on the Development Prospects and Challenges of China's Consumer Products Market," co-organized by the Intertek Group, was held in Beijing.
Levi's, Burberry, IKEA, Prada, Gucci, Liz Claiborne, Walt Disney, Nike, Apple, Olivia Miller, Abercrombie & Fitch, Swarovski, Bestseller, Philips, Kraft, GlaxoSmithKline CHRD China and other internationally renowned brands and retailers Wait until the field arrives.
The officials of the Ministry of Commerce, the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China and the State Administration for Industry and Commerce of the People's Republic of China attended the meeting and disclosed information on the expansion of China's consumer goods market. This will undoubtedly give more opportunities to foreign consumer brands.
Assistant Minister of Commerce Yu Jianhua stated at the forum that expanding domestic demand, especially increasing household consumption, is a strategic move to adjust the structure and is also an important measure to consolidate China’s response to the financial crisis. Within the expansion, it is necessary to make full use of both international and domestic markets and two kinds of resources. In particular, it is necessary to provide positive incentives for the expansion of domestic demand by increasing imports.
According to reports, in 2011, the Ministry of Commerce will further simplify import management measures and promote trade facilitation through the improvement of import discount interest rates, import credits and other series of promotion policies, so as to achieve balance in import and export trade.
One of the reasons for the potential of China's imported consumer goods is that the import ratio is too low.
In 2010, China has become the second largest importer of goods in the world and the fourth largest consumer goods market in the world after the United States. However, imports of consumer goods accounted for only 3% of the total retail sales of consumer goods in the entire society.
Wang Suwen, director of the Department of Foreign Trade of the Ministry of Commerce, said at the forum that the proportion of imported consumer goods is still low and the market has great potential for development. According to the classification of the UN's BEC, during the “Eleventh Five-Year Plan†period, China’s imports of consumer goods accounted for less than 4% of total imports. Of the US$1.4 trillion imported in 2010, only 4% were consumer goods, and imported consumer goods accounted for only 3% of total retail sales in the country. %.
And Chinese consumers are increasingly interested in foreign brands. It is understood that in 2010, China imported only more than 400 million U.S. dollars in Italian clothing, but it increased by 40% over the previous year; the total amount of French cosmetics imports was less than 400 million U.S. dollars, but it also increased by 40% over the previous year; ASEAN has now become China’s largest food import destination, China imported US$5.6 billion worth of foodstuffs from ASEAN in 2010, an increase of 40%; US cars also achieved rapid development in the Chinese market. In 2010, US imported US cars were nearly US$3.2 billion. 43%.
Wang Shouwen believes that China's efforts to open up the market will increase. At present, China's total import tariff is only 9.8%, further reducing the import tariff on some raw materials and final consumer goods, while the average import tariff of developing countries in the world reaches 46.6%. In terms of non-tariff barriers, China has already adopted an import system to abolish the management of all commodity quotas.
Wang Shouwen stated that in order to further encourage imports, the Ministry of Commerce plans to take multiple measures. One is to establish and improve the import service system and improve the transparency of relevant import policies; the second is to actively organize a series of imported goods exhibitions and expos; the third is to actively support and organize Various forms of investment and trade promotion delegations go abroad for procurement; Fourth, encourage domestic and foreign trade enterprises to establish long-term cooperation mechanisms with foreign consumer goods suppliers, thereby reducing intermediate links and transaction costs; Fifth, accelerate the construction of free trade zones to enjoy the import of consumer goods. The preferential policies. At present, China plans to build 14 free trade zones with 27 countries and regions, of which 10 have signed agreements.
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