BUSINESS China sees recovering toy export market

BUSINESS

China sees recovering toy export market

Xinhua

13:58, October 21, 2020

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File photo: CGTN

SHANGHAI, Oct. 21 (Xinhua) -- China, the world's biggest toy exporter, has seen a recovering classical toy export market since July, as the country is striving to resume production following its containment of COVID-19.

China exported 3.54 billion U.S. dollars worth of classical toys in July, up 21.2 percent year-on-year, according to the China Toy & Juvenile Products Association. The figure rose to 3.94 billion U.S. dollars in August and then 4.11 billion U.S. dollars in September, up 2.6 percent and 7.9 percent year-on-year, respectively.

China's classical toy exports edged down 1.9 percent year-on-year during the January-September period, with the decline narrowing from 12.1 percent in the first six months, data showed.

According to customs classification, classical toys include animal toys, dolls, educational toys, wheeled toys, toy cars, and power-driven toys and models. The category is important for China's toy export market.

Liang Mei, president of the association, said Chinese toy enterprises are trying to take advantage of new changes and demands and are seeking new opportunities to expand their international markets.

The recovery is of great significance to stabilizing economic development and employment in 20 major toy manufacturing regions in China including Guangdong, Zhejiang and Shandong.

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