The ongoing China International Consumer Products Expo (CICPE) has drawn more than 3,400 brands from over 60 countries and regions, with foreign exhibitors reporting rapid contracts and unexpected consumer openness as Hainan's free trade port policies boost global participation.
The six‑day event, running through Saturday, has seen international exhibits make up 65 percent of the total, a jump of 20 percentage points from last year.
Canadian exhibitor Greg Zeschuk brought to Hainan a beer naturally fermented in the Rocky Mountains, backed by a marketing plan tailored for China that paired the brew with Sichuan cuisine. Within minutes of one‑on‑one talks at the expo's new purchaser service center, he secured five or six letters of intent.
"The time I've had here is really valuable. It has been really good meeting possible customers. I also feel there are amazing opportunities. Just the opportunity to do business here is very good. It's very, very exciting," Zeschuk said.
For Russian exhibitor Yevgeny Baranov, the Hainan consumer expo's biggest revelation has been the openness of Chinese consumers.
Debuting with 14 companies at the Russian Pavilion, Baranov said the group arrived with both optimism and concern, unsure whether Chinese consumers would embrace their products.
"I didn't expect such a bustling crowd. My Russian colleagues told me visitors kept flowing in like a river from morning till night. Today is the second day of the expo, and they have already signed contracts, cooperation agreements, and many letters of intent," Baranov said.
What has surprised Baranov even more is how Chinese consumers are open to new products and new brands.
"Knowing that there are new policies in the Hainan Free Trade Port, we advised more companies to participate in the expo and explore the Chinese market," he said. The CICPE's efficiency and openness have kept Singaporean massage chair maker OSIM returning year after year. At this year's expo, company representative Li Zhiwei was struck by the speed at which consumer trends shift in China's market.
"In China, a new daily-use product debuts every ten seconds, so we have to constantly update our products to keep up with the pace," he said.
Since its launch in 2021, the CICPE has become an important platform for multinationals to stay abreast of consumer trends in China, and many attendees are also now looking to tap into the opportunities offered by Hainan.
A significant development for the island province came late last year, when the Hainan Free Trade Port launched fully island-wide special customs operations, making it the world's largest free trade port by area.
China Consumer Expo in Hainan draws record global turnout, highlights consumer openness
U.S. President Donald Trump said on Friday that he estimates a deal with Iran will be signed "in the next day or two."
Trump said in an interview with Israel's Channel 12 News that the United States and Iran will probably meet over the weekend to finalize a deal to end the war. "The Iranians want to meet and make a deal," he said.
He said "the naval blockade on Iran is helping to make a deal. I will not lift it until we make a deal," adding that "the biggest part of this deal is that it will make Israel safer. This deal is good for Israel."
According to the channel, one component of the deal under discussion is that the United States will release 20 billion U.S. dollars in frozen Iranian funds.
In exchange, Iran would give up its stockpile of enriched uranium, and would be only allowed to have nuclear research reactors to produce medical isotopes, all above ground.
Trump also stressed that Israel must stop the strikes on Lebanon, saying, "They can't keep blowing up buildings. I'm not going to allow that."
Also on Friday, Trump said in a phone interview with Bloomberg that a deal to end the U.S.-Israeli war with Iran is mostly complete as talks over a lasting peace deal will "probably" be held this weekend in Pakistan.
Trump said in the phone interview that Iran agreed to suspend its nuclear program indefinitely, and will not receive any frozen funds from the United States.
"Most of the main points are finalized. It'll go pretty quickly," Trump said.
Asked if he would travel to Pakistan to sign the potential deal, Trump said: "I may."
Trump again denied that the moratorium on Iran's nuclear program would expire after 20 years. "No years, unlimited," Trump said.
The United States will get all of Iran's nuclear "dust" with no money having exchanged hands "in any way, shape, or form," Trump wrote on social media earlier on Friday. Multiple Western media outlets have interpreted Trump's reference to nuclear "dust" as meaning Iran's stockpile of enriched uranium.
Iran has yet to comment on any deal beyond the reopening of the Strait of Hormuz, nor on claims made by Trump that Tehran had offered concessions, including over the key issue of its nuclear program.
If the United States continues its naval blockade of the Strait of Hormuz, Iran will consider it a violation of the ceasefire between the two countries and will close the waterway, the semi-official Tasnim news agency reported Friday, citing an informed source close to the Supreme National Security Council.
The Iranian side has yet to respond to the media report on the enriched uranium issue.
The United States and Iran had their first round of negotiations in Pakistan's Islamabad last weekend to ease tension in the Middle East. The talks, which failed to produce an agreement, took place after a ceasefire was announced on April 8 between Iran, the United States, and Israel, following 40 days of fighting.
Iran tightened control over the Strait of Hormuz after the United States and Israel launched joint attacks on the country on Feb. 28. The United States also imposed a naval blockade on the strait following the failed negotiations in Islamabad.
Earlier on Friday, both Washington and Tehran confirmed that the strait had been completely open for all commercial vessels. However, Trump said on Truth Social that the U.S. naval blockade would "remain in full force." In response, Iran warned of closing the waterway again if the U.S. blockade continues.
Trump says may sign deal with Iran "in the next day or two": Israeli media
Trump claims peace deal with Iran mostly complete: report
