Kid goods fair kicks off in Shanghai
Thousands of buyers were expected to attend China’s first kid goods fair this week, which began Wednesday in Shanghai and will last until Friday, the Shanghai Business Journal reported. Buyers include domestic giants like Hua Lian GMS and international players like Metro and Sears. Toys, clothing, furniture and infant products will be on display. According to the National Bureau of Statistics, 27% of China’s 1.3 billion population are under 14 years of age, and 16 million babies were born in mainland China last year. The Shanghai Statistics Bureau found local families spent 30% of their income on their children last year. China’s kid goods sector was worth US$67.75 billion (RMB500 billion) last year, and it is projected to grow 12.4% this year.