Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Home> NewsBrief>Guangdong
Guangdong's toy export industry stable amid global recession
Latest Updated at 2008-October-31 10:17:23
Related News
Thousands of toy makers laid off in Guangdong
Exports of Guangdong hit record despite global downturn
Ways sought to improve weakening US-Guangdong trade
Baby overload in Guangdong
Guangzhou Wins Metropolis Prize For 2008
2008 Guangzhou Book Fair Kicks Off
Guangzhou Volunteers Put on Movies for People in Sichuan
Students' Winter Running Begins

The toy exports in south China's Guangdong Province, a global key toy making base, have shown signs of recovery and are expected to remain stable, according to the provincial customs.

"The toy industry still has its international market despite the adverse market environment," said Li Zhuoming, head of Guangdong Toy Association.

"The exports will keep stable and more factory closures are not expected," Li said.

In the first three quarters of this year, the toy exports reached 4.47 billion U.S. dollars, a year-on-year increase of 6.3 percent. But the growth rate dropped by 16.2 percent compared with the same period last year, according to the provincial customs statistics.

The second half is usually the peak season for toy exports. The export volume in Sept. rose by 17.7 percent to 840 million U.S. dollars.

The Hong Kong/Taiwan-funded companies doing processing trade still report growing exports while those doing common trade had shrunken exports.

During the first nine months, the province exported 3.15 billion U.S. dollars of toys by processing trade, up 4.8 percent year on year. The export by common trade, however, reduced by 6.6 percent to 530 million U.S. dollars. The export by processing trade accounted for 70.6 percent of the province's total toy exports.

The drastic fluctuation in toy exports since late last year had resulted from rising raw material and labor costs, the yuan's appreciation and an export tax rebate decrease on toys last July.

Large-scale quality recalls also hurt the industry as western countries raised quality standards and issued several recalls on Chinese toys last year. China conducted special campaigns to improve toy quality and banned many unqualified companies from exporting.

As entertainment goods, toys are most vulnerable to financial crisis.

Guangdong's toy exports to the United States and Hong Kong, the province's main importers, dropped by 2.5 percent and 13.9 percent respectively during the first three quarters.

The General Administration of Customs said in a report last week that 3,631 toy exporters, about half of the industry's businesses, shut down in 2008. In Guangdong, 1391 factories engaged in toy exports closed during that period.

Experts said falling orders and a shrinking workforce are inevitable for toy exporters in the economic slowdown. But the number of toy makers in Guangdong will remain stable and they are expected to develop to larger scale with more competitive strength to resist crisis.

The country's Ministry of Finance adjusted export tax rebates on more than 3,000 items last week to counter the slump. Starting Nov. 1, the export tax rebate on toys will be raised from 11 percent to 14 percent, which may help to revive the sluggish toy export market.

Editor: Yan

By: Source: China View website

At 226.93 meters, local papercutting breaks world record

Guangdong Hakka Museum opens in Meizhou

Liuxi lake attracts egrets

New Guangdong Provincial Museum to be unveiled next June

Pirates of the Caribbean 3 premieres in China
This site contains material from other media for content enrichment purpose only.
The website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of are those of the authors and/or publishers. The website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact within thirty (30) days. Email:
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips