- The expo adds momentum to the latest emerging trends in China's foreign trade
GUANGZHOU, China, Sept. 15, 2022 /PRNewswire/ -- Hosted by CCPIT Guangdong Committee and organized by Guangdong Guangzhan International Exhibition Co., Ltd., the 2022 Guangdong Premium Products International Trade Online Expo - Beauty Expo (ITOE) (www.itoegd.com) takes place from September 13 to 17. With the theme of connecting domestic and international beauty markets, the expo includes online exhibitions, business matching services, new product launches, market analysis, and online featured lectures. The event is expected to draw more than 50,000 domestic and international buyers as well as professional visitors.
To respond to the trend towards digital transformation in tandem with targeting both domestic and international markets, ITOE leverages advanced internet information technologies to build a platform promoting trade between Guangdong-based and international cosmetics companies, with the aim of driving not only recovery of Guangdong's foreign trade and local economy but also transforming them into ones driven by quality development.
Available statistics show that China's exports of beauty, cosmetic and personal care products grew 14.4% year-on-year to US$4.852 billion (approx. 30.7 billion yuan) in 2021. Guangdong, one of the leading Chinese provinces in terms of the output value of the cosmetics sector, has built the most complete cosmetics industry chain in the country. To better help local cosmetics manufacturers expand globally in line with the new trends sweeping overseas consumer markets, ITOE has set up eight exhibition zones, including Personal Care Products, Cosmetics, Hair Care Products, Professional Beauty Products, Beauty and Health Products, Fashion Products, Packaging Materials and Perfume Fragrance.
The Chinese foreign trade sector has recently shown several emerging patterns that have gained significant momentum, including cross-border e-commerce and market procurement trade. ITOE has attracted many local foreign trade companies as a result of the expo's role as a digital trade platform that can help them identify key incremental markets and expand into global markets at lower costs.
A representative from Guangzhou MissGel Limited Company noted that the pandemic has accelerated the digital transformation of traditional players in the foreign trade sector as digital global expansion has become part and parcel of such companies' capabilities in digital operations. Through participation in the expo, they have acquired new skills and experiences in expanding digitally, to optimize participation in online exhibitions.