Toys manufacturing in financial crisis
Besides reliable clientele and fine quality, another reason that Cai is so confident is that his company is capable for innovation.
They have enough outstanding designers in overseas and dozens of others doing research and development. “Quite a number of our products are sold overseas carrying the Quanyu trademark,” Cai said.
It is reported that Quanyu has found colleges and research institutions to be its partners producing high-end electronic toys. The company is planning to pump in 150 million yuan to expand its capabilities in toy-making.
Cai said they will also enter the market of animation industry. The company is negotiation with the trademark owner of a popular animated series in China to produce affiliated toys. But that is only a beginning.
Cai will never give up the things he is doing. He believes toys are necessary to some extent because people will demand for toys anyway. The only question is, he said, whether you have chosen the right products.
The principle Cai always keeps in mind is fittest survival.
According to Guo, they’ve got more orders, but they are still afraid of coping with the really big ones.
Indeed, there is talk in Chenghai about overseas clients going broke and being unable to fulfill contracts.
Li Jun though they will not escape from the crisis if the recession persists in the United States and Europe. The city’s export to North America and Europe is already slowing down.
Based on the report of the Shangtou Special Economic Zone Evening News, DHL Shangtou, which focuses on express delivery between the city and the US and European countries has drop one-third form October to November.
As no one is sure about how long the crisis will last, Li Jun and his colleagues are looking for new market such as Middle East, Africa and Southeast Asian countries.
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