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As the global financial crisis influences consumer spending, toy orders from the US and European markets slowed sharply at this year's autumn trade fair.
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To win more orders, some small and medium toy manufacturers have given up their export tax rebates to foreign purchasers. And some of the more competitive toy exporters at the fair have increased their exhibition spaces to attract the attention of more buyers. This toy manufacturer from Yangzhou City doubles its space at the fair.
One toy manufacturer said "We have added more types of toys to increase the amount of choices for our clients so they can order more."
According to figures from Guangzhou customs, exports of toy manufacturers in Guangdong grew only 6.3 percent in the first three quarters this year, a growth rate 16.3 percentage points lower than the year before.
Peng Chunling, Director of General Statistics Department of Guangzhou Customs said "Toy exports of SMEs actually declined, while big toy manufacturers sold 15.6 percent more of their products, and 77 companies' exports each exceeded 10 million US dollars."
China has raised its export tax rebates on toys, moving ahead on promises to counter a slump that is forcing many factories that produce for overseas market out of business. The rebates are expected to be a part of a series of measures to help manufacturers weather falling orders and rising costs amid the world credit crisis.
(CCTV November 6, 2008)
