922 toy exporters shut down operations in South China in 2008January 18th, 2009 - 6:18 pm ICT by ANI
Beijing, Jan.18 (ANI): Product recalls, rising production costs and the global financial crisis caused almost 1,000 Chinese toy exporters in just one province to shut down last year.
According to data released Saturday by Huangpu Customs, 922 toy exporters in Guangdong Province closed operations in 2008. A Xinhua report says that the area now has 2,167 toy exporters compared with the 3,089 that were operating in late 2007.
Dongguan, the province’’s leading toy base, had more than 4,000 factories and some 2,000 suppliers at its peak in 2001.
The numbers began to drop about two years ago.
China is the world’’s largest producer and exporter of toys, with Guangdong alone contributing about 70 percent of the overall output. (ANI)
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