Economic Watch: ASEAN businesses bet on China's consumer power at top expo

An exhibitor shows food products made from Malaysian durian at the 5th China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, April 15, 2025. (Xinhua/Yang Guanyu)

HAIKOU, April 17 (Xinhua) -- Mel Essentials, a Vietnamese fashion brand, captivated audiences with a unique runway show at the 5th China International Consumer Products Expo (CICPE) in south China, showcasing designs that blend minimalism, versatility and a shared Eastern aesthetic.

"Its styles adapt to work, life and ceremonial occasions -- this is where the cultural sensibilities of we Oriental countries converge," said Shang Liuqinshu, fashion show director at the CICPE that runs from April 13 to 18 in Haikou, capital of Hainan Province.

As close Asian neighbors, China, Cambodia, Malaysia and Vietnam have strengthened economic ties through regional initiatives like the Regional Comprehensive Economic Partnership (RCEP). Simplified trade rules and reduced tariffs under the RCEP have facilitated deeper cross-border collaboration in goods, services and investments.

Cambodia's Rong De Group, a major agricultural trader, exemplified this momentum, as its president, Tong Vante, sealed a provisional deal with a Foshan-based buyer at the expo for 400,000 tonnes of raw cashew nuts.

"The CICPE is an indispensable platform for growth," said Tong, whose company has established branches in Haikou, Shenzhen and Nanning to tap China's market potential. He emphasized Cambodia's close links to China via the Belt and Road Initiative and modern trade bonds, calling China "a pivotal partner for Southeast Asian countries."

Malaysia's delegation to the expo further underscored regional optimism, as 18 Malaysian firms displayed products ranging from food and beverage, cosmetics and skincare, to jewelry.

"Malaysian companies seize every chance to engage in expos in China, especially the CICPE," said Fong Suk Wah, secretary-general of the Malaysia International Business Advancement Association.

Fong added that many Malaysian companies also eyed imports of competitively priced Chinese appliances, food, packaging and hardware.

NCH, a Malaysian durian exporter returning to the CICPE, highlighted strategic moves into Hainan as a free trade port. "China's consumer power is unmatched," said NCH CEO Ng Chin Heng, whose firm recently incorporated a trading entity in Sanya, a popular tropical destination in southern Hainan.

Amid global trade headwinds, Tong likened economic interdependence to "kinship," where no individual dispute can break the broader bonds that tie the family together. Data reinforces this synergy: bilateral China-ASEAN trade reached 982.3 billion U.S. dollars in 2024, more than doubling the figure from 2013, with the two sides remaining each other's largest trading partners for five consecutive years.

From fashion runways to boardroom deals, ASEAN businesses continue to bet on China's thriving markets, signaling confidence in a shared future of inclusive growth. ■

Visitors select Malaysian products at the 5th China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, April 15, 2025. (Xinhua/Yang Guanyu)