STORY: Global licensing industry optimistic about Chinese market
DATELINE: June 18, 2023
LENGTH: 0:01:56
LOCATION: LAS VEGAS, U.S.
CATEGORY: CULTURE

SHOTLIST:
1. various of the Licensing Expo 2023

STORYLINE:

Global companies, manufacturers and retailers in the licensing industry have great interest in entering the Chinese market, according to Licensing International, a leading trade association for global brand licensing industry.

Tani Wong, managing director of Greater China and Southeast Asia at Licensing International, said that China is the world's 5th largest licensing market with the fastest growth of annual retail sales of licensed merchandise and services.

Overseas IP (intellectual property) owners are optimistic about the growth of China's licensing industry, she said.

Wong made the remarks at the just concluded Licensing Expo 2023 held in Las Vegas, U.S. state of Nevada.

The show gathered thousands of leading retailers, manufacturers and licensees from around the globe, including those from China.

It provided opportunities for them to connect with the world's most influential entertainment, character, art, and corporate brand owners as well as agents to discover brands, develop new consumer products, and explore cooperation.
       
Global sales of licensed merchandise and services reached a groundbreaking 340.8 billion U.S. dollars in 2022, an uptick of 8 percent compared to 2021, according to figures from Licensing International.
 
Xinhua News Agency correspondents reporting from Las Vegas, U.S.
(XHTV)