By He Yin, People’s Daily
Over 1,700 companies and 4,100 brands from more than 70 countries and regions have convened in south China’s island province of Hainan for the 5th China International Consumer Products Expo (CICPE) – an expanded event that reflects the international community’s growing confidence in China’s development.
Running from April 13 to 18, the expo comes at a time of mounting global economic uncertainty. Yet for many multinationals, China’s stable, transparent, and predictable policy environment, coupled with its vast consumer market, offers both stability and opportunity to sharpen their competitiveness in global competition.
China’s continuous efforts to deepen its opening up and share development opportunities with the world remain a key reason behind the strong turnout at this year’s expo.
Opening to the outside world is a fundamental national policy for China. The country is advancing high-level opening up, steadily expanding institutional opening up by proactively adopting relevant rules, regulations, management, and standards, and continues to stabilize foreign investment to boost foreign investors’ confidence in Chinese market.
As the host of the CICPE, Hainan is intensifying efforts to build itself into a free trade port, standing as a testament to China’s unwavering openness. Now in its fifth year, the expo has evolved into a vital platform for global companies to tap into the Chinese market and for Chinese brands looking to expand abroad.
As Xie Yi, senior vice chairman of Thailand’s Charoen Pokphand Group, noted, despite global uncertainties, China continues to embrace the world with open cooperation. According to him, the group plans to expand the reach of high-quality Chinese products across Southeast Asia and the world, while introducing more global products into China’s vast market to capitalize on the opportunities created by China’s ongoing opening up.
In tandem with the expo, the “Shopping in China” campaign was launched to stimulate Chinese domestic consumption, which highlighted the advantages of China’s huge market.
In recent years, China has stepped up efforts to expand domestic demand – encouraging consumer goods trade-ins, promoting high-quality development of consumption of the services sector, and launching a range of activities to boost consumption. It has also accelerated efforts to build international consumption center cities.
These endeavors have helped improve living standards for Chinese citizens while opening up new business opportunities for global companies. In 2024, China’s total retail sales of consumer goods exceeded 48 trillion yuan ($6.58 trillion), a 3.5 percent year-on-year increase. Between 2021 and 2024, the country imported 7.4 trillion yuan worth of consumer goods.
Leveraging this vast market, the CICPE has become a key venue for showcasing premium global consumer products and spotlighting evolving consumption trends. With its growing international profile, the expo supports China’s push for the new development paradigm – driving high-quality development at home while contributing to global economic recovery.
On the sidelines of the expo, the 2025 Global Industrial Investment Promotion Conference for the Hainan Free Trade Port highlighted Hainan’s progress in building a world-class free trade port, drawing attention to its improving business environment and rising investment potential.
The event underscores China’s resolve to create a world-class business environment and deliver high-quality services to global enterprises. Recognizing that a sound business environment is essential for growth, China is fostering a world-class business environment that is market-oriented, law-based, and internationalized, which has become a powerful magnet for global investors.
The country has strengthened intellectual property protection and improved its global business environment ranking from 96th to 31st. It safeguards the lawful rights and interests of foreign enterprises in China, and ensures equal national treatment for foreign businesses. Meanwhile, its negative list for foreign investment has experienced eight rounds of reduction, from 190 items initially to 29 on the national negative list and 27 on the pilot free trade zone list.
By shifting the focus from simply “doing business” to “thriving in business,” China is working to create a more fertile environment for investment and long-term growth.
For foreign companies, embracing China is embracing opportunities, believing in China is believing in a better tomorrow, and investing in China is investing in the future. China will continue to support foreign-invested enterprises and remain a stable, opportunity-rich destination for global capital. As China deepens its economic engagement with the world, it is seeking to chart a path of shared growth and mutual benefit for the years ahead.
