This application relates to the communications field, and discloses an information exchange method and a terminal. The method includes: determining target content in a current interface according to an operation instruction entered by a topic initiator for the current interface; determining a discussion topic title based on the target content, and setting up a topic discussion group; adding a topic participant to the topic discussion group based on the target content and/or the discussion topic title; and receiving discussion content entered by the topic initiator and/or the topic participant, and displaying the discussion content.