China reported growth in both import and export of toys in 2016, which fortified the country's status as a major manufacturer and consumer of toys, a report published Thursday said.
Last year, China exported toys valued at 33.7 billion U.S. dollars, up around 9.5 percent year on year, while imports hit more than 1 billion U.S.dollars, a rise of nearly 23 percent from a year earlier, said the report from China Toy & Juvenile Products Association, citing customs statistics.
Trade and profitability of the toy industry remarkably outstripped light industry as a whole in 2016, according to Zhang Chonghe, head of China National Light Industry Council.
The association predicted that the market size of toys would reach 60.7 billion yuan (8.8 billion U.S. dollars) this year, an increase of 9.2 percent year on year.
Liang Mei, head of the association, attributed the trade growth to the country's new second-child policy, along with improved competitiveness of manufacturers and upgraded consumption.
China has more than 10,000 toy manufacturers with about 6 million employees. From 2011 to 2015, Chinese-made toys accounted for 73 percent of the toys bought globally.