China sees nearly 5.3 mln toy firms

China currently has 5.27 million toy-related companies, according to data from database query platform Tianyancha.com. This was reported by The Xinhua News Agency.

Among them, 83% were established within five years, and over 55% are individually-owned businesses, showed the data.

South China's Guangdong Province has the largest number of toy-related enterprises, exceeding 590,000, followed by Zhejiang and Shaanxi.

Last year, the number of newly registered toy firms hit 1.73 mln, a record high. Over 100,000 toy-related companies were registered this year as of Sunday, equivalent to more than 2,700 companies established per day on average.