Why The Show

Capture Lucrative Market
Opportunities in China

While the world is still grappling with the pandemic, China has emerged as the first-most country to achieve effective control and recover strongly from the pandemic, with trade exhibitions, business and consumer activities starting to resume.


Being the second largest economy in the world with its huge 1.4 billion population and a fast-growing middle class enjoying ever-rising disposable income and purchasing power, China has grown into an enormous consumer market with escalating demand for high-quality consumer goods and lifestyle products, in particular the import-grade housewares, food, beauty and personal care products.


According to the National Bureau of Statistics of China, China’s retail market has shown a robust upward growth trend as the local pandemic situation is now in control. In June 2020, the y-o-y growth rate of consumer goods sales reached 16.9% and the rising trend is expected to continue.

The Retail Sales of Consumer Goods in China from May 2019 to May 2020




The Retail Sales of Consumer Goods (billion RMB)
44.9
19.05
52.29
19.06
46.24
19.07
50.39
19.08
53.41
19.09
50.59
19.10
64.31
19.11
61.56
19.12
46.73
20.03
47.1
20.04
52.53
20.05
61.5
20.06


Source: National Bureau of Statistics of China, iResearch Consulting Group


Tap The High-growth E-commerce
Sector in China

China's Online Retail Sales Figures From March 2019 to May 2020

Online Retail Sales (billion RMB)
2000
4000
6000
8000
10000
12000
14000
8395.9
19.03
8060.6
19.04
8202
19.05
9519.3
19.06
7811.9
19.07
8420.5
19.08
8844
19.09
9070.1
19.10
12650.7
19.11
11366.4
19.12
8457
20.03
8529
20.04
9478
20.05




Source: National Bureau of Statistics of China

Amidst the COVID-19 disruption, more and more consumers in China have switched and adapted to online shopping as most brick-and-mortar retail shops and businesses experienced a shutdown or even closures. From March 2019 to May 2020, China's online retail sales soared to reach RMB 264.4 billion, showing a robust year-on-year growth of 7.3%.

E-Commerce is in its heyday in China. China is now the largest online market in the world with more than 800 million Internet users. In recent years, live-streaming has been playing an increasingly important role in China’s e-commerce market. In 2019, livestreaming accounted for almost 9% of total e-commerce sales in China ($723 billion as estimated by Statista) or roughly 1% of total retail sales of consumer goods, based on data from the National Bureau of Statistics of China and Coresight Research estimates.

Huge Business Opportunities For Imported Food & Cosmetics

  • The current top 6 imported merchandise in China’s e-commerce retail market are: food, cosmetics & personal care, baby products, fashion & footwear, 3C digital home appliances and home products.
  • Imported food is the most frequently purchased product by cross-border online shoppers in China (55%).
  • As China’s consumer market grows at rapid speed, more and more Chinese customers choose to buy imported food online, taking food safety and quality as great concerns. With low tariffs, low costs and high efficiency, cross-border e-commerce platforms become the ideal way for foreign brands to tap and make inroads into the Chinese market.

China's Lucrative Imported Food Market

  • As living standards in China continue to improve, consumers have shifted their food preferences from those that fill the stomach to nutritious food, health food, snacks and imported food. According to a research by newsijie.com, over 25% of Chinese consumers opt for imported food.
  • According to the 2018 China Imported Food Industry Report, China's imported food sales has been growing rapidly. Statistics from the General Administration of Customs show that during 2009-2018, China’s food imports grew at a CAGR of 17.7%. In 2018, the value of China’s food imports exceeded USD 70 billion, reaching USD 72.47 billion. China today is one of the world's largest importing countries of food.
  • The fast-growing online sales of imported food in China offers international suppliers enormous business opportunities.

Burgeoning Cosmetics Market in China

  • According to statistical data by Advanced Database System Laboratory (前瞻資料庫), China's import of cosmetics and personal care products amounted to USD 9921.4 million in 2018, achieving a whopping year-on-year growth of 70.5%. Even in the challenging year of 2019, China's import of cosmetics and personal care products amounted to USD 13226.72 million, registering a cumulative growth of 33.3%.
  • China is currently one of the world's largest markets for beauty and personal-care products with a share of 15.45%, trailing only the U.S..
  • Since 1 July 2018, China import tariff rates have been further slashed on daily consumer goods to cater the expanding domestic consumer demand. Among them, the average tariff rate for detergents and cosmetics (such as skin care and hair care products), and some medicine and health products was lowered from 8.4% to 2.9%.