Almost 75 percent of the world's toys are made in China, statistics show.
BEIJING- Almost 75 percent of the world's toys are made in China, figures from the China Chamber of Commercefor Import and Export of Light Industrial Products and Arts-Crafts(CCCLA) showed.
Chinese-made toys are being exported to Europe, the United States, Japan and other regions and countries. More than 60 percent of Chinese toy exports go to the United States, according to the CCCLA.
South China's Guangdong Province exports the most toys, making up over 60 percent of the country's total toy export, the CCCLA said.
CCCLA figures show China now has more than 8,000 toy manufacturers with annual output value exceeding 50 billion yuan (6.25 billion U.S. dollars).
China's toy industry is trying to find ways to expand its huge domestic market. There are now 286 million children under the age of 14 in China (almost equal to the entire population of the United States) but per capita only 3.6 U.S. dollars a year is spent on toys. Meanwhile toy-spending in the rest of the world averages out to 34 U.S. dollars per child per year.
Insiders believe China's domestic toy market value could exceed3.75 billion U.S. dollars.
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