Adopting new ideas, business models and retail efficiency
The China Chamber of Commerce for Import and Export of Light Industrial Products and Arts-Crafts believes the recent China International Import Expo has provided good opportunities for local companies to adopt new ideas, business models and retailing capabilities to enhance their operation efficiency and better serve consumers
Li Wenfeng, vice president of the chamber of commerce, said Chinese manufacturers of daily consumer goods would be forced to enhance their design and research and development capabilities in wake of increasing foreign products.
Li also added that despite improvements China still lags behind developed countries.
Consumer goods imported through general trade in 2017 increased 53 percent from a year ago to US$202.1 billion this year.
Export value was US$607.7 billion last year, increasing 6.8 percent from a year earlier, although most exports of daily consumer goods was of relatively low price.
The import of large household consumer items are also picking up steadily thanks to a number of policies to cut import tariffs and drive domestic consumption.
Domestic manufacturers are also lacking efficient distribution channels and its crucial manufacturers learn from its overseas counterparts to adapt to a new market scenario.
Li also called for a smoother import channel and more encouragement towards distributors to establish direct links with overseas brands to increase consumption of import goods.