Gifts / Sports & Toys

At present, it is the peak season for purchasing New Year gifts. At this toy enterprise in Haishu District, Ningbo City, workers are busy packing a puzzle toy called "Huaxia Memory", preparing to box it for export. This enterprise, which produces educational toys, exported toys worth 5.5 million US dollars in 2022, a year-on-year increase of 30%. According to Huacheng Foreign Trade Software Observation, the growth points mainly come from RCEP countries such as Vietnam, the Philippines, Indonesia, and Singapore.

As the Chinese New Year approaches, designers from the enterprise product development department are busy finalizing designs for products such as rabbit lanterns and New Year red envelopes. Design director Jin Yinong told reporters that most of the other member countries of RCEP are deeply influenced by China's traditional culture. Therefore, incorporating more traditional Chinese cultural elements into product design has become a common choice for many toy designers.

Some toy companies focus on traditional Chinese culture, while others take the initiative to adapt and focus on product consumption experiences. The staff of this company are assembling this children's balance car, which is a new product designed specifically for the growing consumer demand in the RCEP market and is selling well in countries such as Indonesia, Malaysia, and the Philippines.

Various preferential policies bring dividends to toy enterprises

According to Huacheng Foreign Trade Software Observation, local toy companies in Ningbo are constantly consolidating their international competitive advantages while expanding their RCEP circle of friends. The relevant trade rules are becoming more and more applicable, bringing tangible dividends for toy companies to expand their exports.

The introduction of various tax and fee preferential policies also helps enterprises alleviate financial pressure.

Weng Qikai, Manager of the Overseas Business Department of a toy company in Ningbo: Especially the zero tariff policy. Since the implementation of this policy, our production costs have directly decreased, and it has also improved the bargaining power of our products in the local market, bringing more opportunities to our enterprise.

In addition, according to the observation report of Huacheng Foreign Trade Software, in order to promote the export of toy products, local customs, tax and other functional departments have come to the door as soon as possible to provide guidance to enterprises and help them make good use of RCEP policy dividends.

Li Zhaobo, Deputy Chief of the Inspection Section of Haishu Customs under Ningbo Customs, guided enterprises to reasonably select RCEP certificates and other certificate of origin according to the export varieties and destinations of enterprises, helped enterprises to formulate optimal benefit sharing schemes and reduced costs for enterprises.

According to Huacheng Foreign Trade Software Observation, in addition to helping enterprises choose lower tax rates in various free trade agreements, local functional departments have also introduced tax and fee preferential policies for enterprises exporting toys to RCEP countries to help alleviate financial pressure. With the help of the tax department, this toy export enterprise has achieved a total of over 1.2 million yuan in export tax refunds and corporate income tax reductions in 2022, alleviating the urgent needs of the enterprise.

Fully exploring traditional Chinese cultural resources, strengthening innovation and improving consumer experience, increasing product added value, and implementing and implementing relevant preferential policies for RCEP by relevant departments, China's toy export to RCEP countries has shown a thriving trend.