Hong Kong Toys Council (“HKTC”), under the auspices of the Federation of Hong Kong Industries (“FHKI”), 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, protracted COVID-19 pandemic, 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. In 2019, Hong Kong ranked as the world's fourth-largest toy exporter, including both domestic exports and re-exports. Despite most of Hong Kong's major toy export markets, including Japan, Mainland China, the US and the EU, being sluggish under the pandemic, Hong Kong's exports to markets such as ASEAN, Australia and Taiwan actually increased. Overall the toy industry and its market continues to be robust.
With shifting consumers’ preferences under the pandemic, family entertainment products rose significantly. In 2020, puzzles, chess sets as well as boardgames and indoor games recorded notable growth, ranging from 12% to 356%. While traditional toys and games dropped by 22% year‑on‑year, electronic and video games exports also fell slightly by 6%. As electronic entertainment became more common and popular, traditional toy manufacturers rose to the challenge by designing innovative toys to attract consumers. Educational toys related to science, technology, engineering, art and mathematics (STEAM) are gaining popularity globally.
It is our belief that HKTC should stand to create new values for the toy industry. Aside from being a gatekeeper for quality production, safety standard and budget control, we also strive to bring to live a permanent toy museum in Hong Kong in order to foster a strong culture of Hong Kong-made toys. Leveraged on the BUD Fund and cross-sectors collaboration, HKTC is on its way to deliver a rich array of activities throughout the year to assist the development of toy industry. The activities are designed to help the toy industry enhancing resources on local intellectual property protection, strengthening in-house design capabilities to create value-added features, as well as building remarkable toys brands to gain a foothold in the Asian markets and seize growth opportunities.
As the present Chairman of HKTC, I would like to take this opportunity to express my sincere gratitude to the former Chairmen, Deputy Chairmen, Executive Committees and all members for their dedication to HKTC, as well as the trustworthy leadership from FHKI. I will continue my effort to uphold HKTC’s mission to work for the best interest of our members. I look forward to your active participation in varieties of activities launched by HKTC, promoting mutual interaction and keeping abreast with the latest trends of the local and overseas toys industries.