The 5th China International Consumer Products Expo (CICPE) has cemented its role as a cornerstone of global trade, reporting 92 billion yuan ($12.6 billion) in intended deals amid record participation. Held in Hainan Province, the event drew 1,767 companies and 4,209 consumer brands from 71 countries and regions, with attendees hailing the expo as a barometer of China's expanding consumer influence.
Newcomers like Slovakia, Singapore, and Kazakhstan debuted national pavilions, while the UK, this year's guest of honor, doubled its exhibition space compared to 2024, showcasing premium brands across luxury sectors. Over 60,000 professional buyers — a 10% annual increase — explored opportunities amid China's push to boost domestic consumption through initiatives like the Ministry of Commerce's 'Shopping in China' campaign.
'The expo underscores China's strategic pivot to consumption-led growth,' said Zeng Rong, chief economist at Hainan's international economic development bureau. The agreements signed span cross-border e-commerce partnerships and supply chain expansions, reflecting global businesses' appetite to engage with the world's second-largest consumer market.
China's retail sales reached 48.8 trillion yuan in 2024, with services consumption emerging as a critical driver. Kuang Xianming, a vice president at the China Institute for Reform and Development, noted services could account for over half of national consumption by 2030: 'This structural shift creates unparalleled opportunities for international brands in sectors like tourism, healthcare, and fintech.'
As preparations begin for the 6th CICPE, analysts highlight Hainan's transformation into a global trade hub under its Free Trade Port blueprint. Over 400 companies have already registered for next year's event, betting on China's sustained economic resilience.
