Toys bring a lot of joy and beauty to the world, just like Barbie dolls bring princess dreams to little girls, model toys enrich the imagination and creativity of little boys, and plush dolls also bring companionship and warmth to many adults. It can be said that toys are playmates that make this world more fun.
China is the world's largest toy producer, with 70% of the world's toys produced in China. According to online data, the export value of China's toy industry has been growing steadily, from 183 in 2016$900 million grew to $461 in 2021$200 million. Among them, the United States is China's largest toy exporter, with a toy export value of 13 in 2021US$800 million, an increase of 57 percent over the previous year3%, accounting for 292%。
The domestic toy industry is widely geographically distributed, and there are a considerable number of toy-related enterprises in Hainan Province, Guangdong Province, Zhejiang Province, Shaanxi Province, Shandong Province, Hebei Province, etc., of which Hainan, Guangdong and Zhejiang have 113 respectivelyMore than 80,000 families, 90More than 90,000 and 73More than 60,000 toy-related companies.
Chenghai, Anhai and Shanghai are the three major toy production bases and called "three seas", which is located in Chenghai District, Shantou City, in the east of Guangdong, which is the location of the country's famous toy industry cluster. There are 168 toy enterprises above designated size in Chenghai District, with an annual industrial output value of more than 48 billion yuan in 2022, toy production accounting for 25% of the country, and more than 75% of toy exports to more than 140 countries and regions such as Europe, America, the Middle East, South America, ASEAN, and Russia.
Wenzhou Yongjia Qiaoxia Town is the "capital of China's teaching toys", with more than 1,300 various educational toys and supporting production enterprises, more than 20,000 employees, and an average annual growth rate of about 10% in the past 20 years. Yongjia Qiaoxia Town has more than 30,000 varieties of thousands of series in eight categories, which are exported to more than 100 countries and regions at home and abroad.
Xiong'an New Area in Hebei Province has the largest plush toy industry belt in northern China, accounting for 80% of the country's plush toy production and sales. In 2021, the total transaction volume of the plush toy industry in the county will exceed 30 billion yuan, and the number of cross-border e-commerce enterprises will reach more than 40, with an annual output of 80 million yuan, which will directly drive employment70,000 people, indirectly driving the employment of 130,000 people.
Colin, the marketing director of WindPayer, believes that the industrial chain of the domestic toy industry is very perfect, whether it is modeling design, raw materials, mold processing, supporting finished products, or sales and transportation, etc., it has formed a professional division of labor and cooperation and a high degree of industrial agglomeration effect. However, in the face of the unpredictable international market and increasingly advanced costs, domestic toy companies still need to continue to strengthen branding, innovation, digitalization and other aspects to provide added value of products, in order to break through the global market competition.
Colin said that in the current international situation, domestic toy companies often have to face problems such as complicated account opening procedures, long collection periods, and large exchange rate fluctuations when going overseas. In the face of these problems, domestic cross-border payment service providers such as windpayer came into being, cooperated with a number of domestic authoritative institutions and banks, and built a complete risk control system with export foreign trade transactions as the background to provide safe, sunny and efficient global collection accounts.
At the same time, foreign trade enterprises should also pay more attention to the impact of abnormal fluctuations in the mainstream exchange rate, which will lead to the actual receipts of enterprises that do not match expectations, thereby increasing the cost and burden of capital management. In this regard, more high-quality payment service providers will provide real-time exchange rate functions, so that enterprises can understand exchange rate fluctuations at any time, collect and settle foreign exchange under relatively ideal circumstances, and reduce foreign exchange losses and hidden costs.
In the future, domestic toy foreign trade enterprises should not only strengthen industrial upgrading and brand building, strengthen global market competitiveness, but also accelerate the digital transformation and upgrading of foreign trade and cross-border digital development, and set sail in overseas markets faster and more efficiently under the safe and sunny process