American Toy Association: The epidemic will not change China's important position in the global toy industry
Pacherb said that a complete industrial chain, advanced equipment and excellent employees have established China's unique position in the toy industry. He believes that China is the world's largest producer of toys and the second largest consumer market, and it is expected to surpass the United States in 2021 to become the world's largest toy consumer market. He said that US toy manufacturers are highly dependent on their Chinese partners, and about 85% of the toys in the US market are produced in China. Although Malaysia and other Southeast Asian countries also have certain toy production capacity, many of these components are still made in China, and China's important position in the global toy supply chain cannot be shaken in the short term. Pachelb pointed out that safety standards are the primary consideration of the toy industry, and toys sold in the United States must comply with a set of government safety standards and regulations. In addition, the toy industry is highly price-sensitive, and toy companies will try to find suppliers with higher cost performance. He said that Chinese manufacturers can produce ideal products that meet the above requirements, and the toy companies of the United States and China have formed a cooperative partnership of mutual trust in the past few decades. Chinese suppliers are true partners. They not only produce products, but also cooperate with American toy manufacturers to jointly promote product innovation and upgrading. He said that it is the ideas and concepts of both parties that have jointly promoted the development of the industry. Pacherb expressed the hope that the US and China toy companies will continue to strengthen cooperation, and the prospects for deepening cooperation between the two sides are worth looking forward to. Speaking of the possible impact of the new crown pneumonia epidemic on the toy industry, Paschelb said that toy dealers are paying close attention to the situation and there is no serious threat at present, but the overall economic impact remains to be seen. He said that the sooner the Chinese toy factory resumes production, the better it will be for the entire industry, but the most important thing at the moment is to ensure the health and safety of factory workers. We are working hard to provide Chinese partners with support within our capacity, including protective materials such as masks. Pachelb said. The United States Toy Association was founded in 1916 and is headquartered in New York. It is a non-profit industry association that represents the United States toys, games, and youth entertainment products.