Guangdong toy exports to continue growth, says expert
Guangdong is set to continue to grow strongly in both the domestic and international toy markets in 2017.
That is the view of Li Zhuoming, chairman of Guangdong Toy Association, who made the remarks at a press conference on March 21.
Li based his prediction on the economic recovery in Europe and the United States, the largest markets for China-made toys.
"The factors that contributed to the market boom in 2016 stay unchanged this year," Li said. "The sector boasts the world-leading technologies and is able to compete with other southeast Asian toy makers."
There are 3,216 toy manufacturers in Guangdong, making it China's largest hub for the industry. According to statistics, toy exports in 2016 hit 78.7 billion yuan ($11.41 billion), marking a year-on-year growth of 6.36 percent, and accounting for 62 percent of the nation's total toy exports.
The growth of toy merchandising linked to blockbuster movies has helped boost the sector in recent years, with franchises such as "Star Wars" bringing in $760 million in China-made toy exports to North America alone in 2016.
Animated movies such as "Frozen", "Kungfu Panda", and "Minions" have also helped fuel the global and domestic toy market, said Li.