Beijing's Chaoyang district has unveiled a three-year action plan to turn itself into a global hub for trendy toy intellectual property, targeting industry revenue of more than 50 billion yuan ($7.35 billion) by 2028 with annual growth of no less than 20 percent.

The plan, released on Monday during the ongoing 2026 China New Cultural and Creative Market & Trendy Toy Carnival, outlines ambitions to incubate at least 10 blockbuster toy IPs and build the district into a center for leading companies, immersive consumer experiences and overseas brand expansion.

Yin Yuan, deputy district head of Chaoyang, said the government will introduce targeted support measures covering original design, enterprise cultivation, technological innovation, product launches and talent development.

"We aim to establish a full-chain support system spanning creation, commercialization, consumption, international expansion and related services," Yin said. "The policies are designed to help companies reduce costs, improve efficiency and strengthen their global competitiveness."

The district also announced on Monday the launch of an international industry organization aimed at bringing together leading companies and promoting cooperation across the trendy toy sector.

During the event, Hu Jian, vice-president of Pop Mart International Group and general manager of Pop Mart City Park, which is located within Chaoyang Park, said: "The park opened a new area in late April featuring the IPs of Labubu and Dimoo, along with captivating attractions and 17 new interactive games to enhance engagement and storytelling, creating a thematic world for visitors to fully immerse themselves in the vibrant narratives of its IPs."

The fully renovated Pop Mart City Park is set to open on July 30 with upgraded facilities, becoming a new engine driving the district's efforts to promote local IPs.

The carnival, regarded as China's first national-level event dedicated to cultural creativity and trendy toys, opened on May 15 at Chaoyang Park and will run through Sunday. Covering about 66,000 square meters, the event features exhibitions, creative products, intangible cultural heritage displays and digital technology showcases.

Several leading museums, including the Palace Museum, the National Museum of China and the Sanxingdui Museum, are participating in the event. In addition, examples of 43 national, provincial and municipal-level intangible cultural heritage crafts are on display.

yangcheng@chinadaily.com.cn