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Cracking the Chinese toy market

Toy sales in China have leaped from 89.7 billion yuan ($13.9 billion) in 2011 to 232.2 billion yuan ($36 billion) in 2016, according to London-based Euromonitor International.

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By 2022, China is expected to eclipse the United States as the world's biggest toy market, the market research firm predicts.

 

Toys and games recorded strong retail value sales growth in 2017. Although the birth rate dropped, despite the introduction of a 2-child per family policy, an increase in the 0-14-year-old population, the growing number of adult players and a consumer shift to high-quality products promise robust value growth in toys and games.

 

In 2017, the Toy Manufacturing industry in China is set to generate $10.1 billion, up 5.3% for the year, and reflecting annualized growth of 7.9% over the past five years. As Chinese household incomes increase and families choose to spend more on their children, domestic demand has been increasing — 5.3% annually over the five years through 2017 to total $20.1 billion. This industry contributes significantly to employment levels in China with 7,178 businesses employing 607,848 people in 2017.China is the largest manufacturer and exporter of toy products, manufacturing over 70.0% of the world's total. Most of the industry's export businesses provide original equipment manufacturer (OEM) services to foreign clients, and more than half of these have export licenses.


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