worldnews
China Toy Expo 2011 Welcomes International Attendees
The 10th International Trade Fair for Toys & Hobby Articles,arranged by China Toy Association will be held in Shanghai New International Expo Center on Oct.12- 14.
China Toy Expo 2011 remains the largest event of its kind in the Chinese mainland, providing visitors with the opportunity to source direct from toy factories in China and Asia. China Toy Expo 2011 is held concurrently with the China International Baby Carrier & Baby Articles Fair and China International Licensing Show, capitalizing on the synergy of the three industries and offering visitors a wide range of sourcing opportunities in toys, hobby, baby products and licensing. To help international buyers to fi nd the right suppliers for right products, China Toy Association has launched its own Toy Supplier Assessment Service. Buyers can identify reliable Chinese suppliers via the Star Supplier logo at the show; more information on this new initiative can be found at:
www.toys-yourlinktochina.org. The group pavilions from production regions are the most distinctive spotlights of CTE. In 2011, ten group pavilions will represent the major Chinese production regions for key categories such as wooden toys, plush toys, playground equipment, plastic & electronic toys and model & hobby ranges.
USA Toy of the Year Awards Now Open for entries
Hong Kong offers gateway to China
The US-based Toy Industry Association (TIA) has confi rmed its 2012 Toy of the Year (TOTY) awards are now open. Toy companies, inventors and retailers are invited to submit products in eleven product categories. All of the products selected for the offi cial TOTY ballot will also be considered for the overall Toy of the Year award. The call for nominations is open until October 14, 2011. Buyers from mass and specialty retailers, journalists, bloggers and toy specialists will select which of the hundreds of nominees will be chosen as fi nalists. A national press conference on November 21, 2011 in New York will unveil the fi nalists before voting starts and ends in January. “The entire voting, nomination, and award process will shine the spotlight on exceptional toys and games to consumers, media, buyers and key toy industry infl uencers,” said Stacy Leistner, vice president of strategic communications at TIA. The TOTY awards ceremony kicks off the New York Toy Fair in February and takes place on Saturday, February 11, 2012 at Alice Tully Hall at Lincoln Centre in New York. Tickets will go on sale in early October. For more information visit:
www.TOTYAwards.org.
80 Toyworld
Think Asia Think Hong Kong was the largest-ever promotion organised in the UK by the Hong Kong Trade Development Council. A programme of events throughout the country marked the week-long event, the highlight of which was a symposium held in Westminister’s QE2 conference centre, attended by over 1400 delegates. Toy World attended the morning session, during which some illuminating facts emerged. HSBC Chairman Douglas Flint predicted that the RNB would become one of the top three global currencies by 2015, suggesting that as many as 1/3 of transactions with Chinese companies would be settled in RNB by this time. There was also a lengthy discussion about China’s current 5 Year Plan, which calls for a rebalancing of the Chinese economy, aiming to reduce its reliance on export-lead growth, and instead focus on driving domestic consumption. In order to facilitate this transition, the plan calls for a substantial increase in the minimum wage, to ensure more money fi nds its way into the hands of Chinese consumers. Hence the minimum wage will rise by 13% per annum for each of the next fi ve years, a sobering statistic for those suppliers and retailers hoping for respite from rising manufacturing costs in the region. There was also talk of ‘fl ipping’ the Chinese supply chain, so that it is able to help overseas companies to tap into the Chinese market, rather than simply providing a structure for Chinese companies to export to the rest of the world. The end-game is clear; forecasts suggest that China will be the second largest consumer market in the world – after the USA – by 2030. Mainland Chinese tourists are already the largest overseas spenders in Hong Kong, having overtaken Japanese tourists last year. Of course, all this is cause for concern for toy companies who rely on Chinese manufacturers to provide a source of low-cost goods for the global market. Possible alternatives – such as Vietnam, Cambodia, Indonesia and Bangladesh – were discussed, but Li and Fung Chairman Victor Fung suggested that a more likely scenario would see Chinese factory owners migrating from coastal regions to the interior of China, where land and labour are more plentiful and cheaper. All in all, the event provided a fascinating glimpse into the changing face of the Chinese economy, and underlined the pivotal role which Hong Kong continues to play, by acting as the gateway to the Chinese market.
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