Toy industry making a comeback in Guangdong

Prospective purchase agreements valued at 10.8 billion yuan ($1.57 billion) emerged from the 22nd China Shantou (Chenghai) Toys and Gifts Expo, which concluded on Monday in the Chenghai district of Shantou, a major toy and gift manufacturing base.

The prospective deals set a record for the event, according to organizers, who estimated that binding deals valued at 3 billion yuan were concluded at the expo, with 1,238 overseas buyers.

Dubbed China's toy and gift capital, Chenghai — located in the eastern coastal area of Guangdong province — is home to more than 50,000 toy companies. Exports of toys and gifts grew 33 percent year-on-year to 14 billion yuan last year.