Hong Kong Toys Council (“HKTC”), under the auspices of the Federation of Hong Kong Industries, has been dedicated for more than 20 years to promote the development of the local toy industry and safeguard its benefits via different channels. With the impacts of global economic depression, minimum wage policy in the Mainland and the enforcement of EU and US toy safety requirements in recent years, the toy industry has been facing enormous pressure in such devastating business environment. HKTC will certainly play a particularly important role and continue our efforts to reflect the views and needs of the toy industry to various local and overseas authorities through our extensive network.
For over six decades, Hong Kong’s toy industry has been an important pillar of local industries. Looking at Hong Kong’s toy exports in the past few years, traditional toys and games have outperformed electronic and video games, with its share in toy exports increased from 64.8 per cent in 2014 to 67.4 per cent in 2015 and 73.6 per cent in January-November 2016.
As electronics such as tablets and smartphones have become more commonplace, Hong Kong’s exports of traditional toys and games in January-November 2016 dropped by 17 per cent year-on-year, whereas sales of electronic and video games saw a decline of 40 per cent. To open up new business opportunities, some traditional toy manufacturers have embarked on cross-industry collaborations with other sectors, including movies, comics and animation, design and other creative industries, so as to develop a range of creative products through licensing.