On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) agreement took effect in China. Located at the central point of the RCEP network, the Hainan Free Trade Port with its high-level opening-up policies will surely see more opportunities for the capital city of Haikou to develop its transportation network, excellent talent, and as a central hub of the island province.

Japan, another country that enacted the RCEP agreement the same day, is exploring possibilities of cooperation with Hainan in attending the China International Consumer Products Expo (CICPE, also known as the Hainan Expo), China’s national exhibition platform. At the first CICPE held in Haikou in May 2021, fifty-one Japanese companies participated in the much-anticipated event, including well-known enterprises such as Shiseido, Kao, Omron, Panasonic, as well as SME (Small to Medium Enterprises) such as Lawson and the Kintetsu Department Store, exhibiting nearly 3,000 products from 87 Japanese brands.

Shiseido, a popular international skincare & makeup brand, was a highlight of the first CICPE. (Photo courtesy of IEDB)

Shiseido, a popular international skincare & makeup brand, was a highlight of the first CICPE. XINHUA

With the second CICPE approaching, Japan plans to bring more global brands to the event, which will be held from April 12 to 16 this year, with a larger exhibition area for Japanese products - over 2,100 square meters. More types of Japanese products will also be on display this year, including food, wine, perfume, and beauty products. Additionally, live streams and several Japanese cultural performances will also be held.

In the near future, Japan plans to hold commercial and cultural exchange activities such as a Cross-border Product Fair and a Japanese Festival in Hainan’s downtown area, in order to introduce more Japanese products to the Chinese market while sharing the opportunities brought by the development of the Hainan Free Trade Port.