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Legoland Shanghai a key brick to building toy brand in China

Legoland Shanghai a key brick to building toy brand in China

The Star20-06-2025
Lego has continued to be the biggest player in the construction toys market for 'kidults' in the Chinese market. — Xinhua
SHANGHAI: The Lego Group is viewing China as a high-potential market, as the toymaker gears up to open its much-anticipated Legoland Shanghai Resort on July 5.
Julia Goldin, chief product and marketing officer at Lego, said during her recent trip to Shanghai: 'With more than 400 retail stores across over 100 Chinese cities, we're committed to expanding our presence with a portfolio of products tailored for Chinese consumers.'
The senior executive visited the city to activate the World Play Day with key events in Shanghai, Berlin, Boston and London.
The initiative aims to inspire children and families to reimagine urban spaces through the lens of play.
Launched last Wednesday, World Play Day, which opened at the West Bund Dream Centre, will run through July 27.
The campaign comes as new research commissioned by Lego showed a growing disconnect between urban development and child-friendly planning.
Nearly a third of the world's children live in urban areas, and this is projected to rise to 70% by 2050. Yet, many of these children feel overlooked in city planning.
The study, which surveyed 10,000 parents and 10,000 children aged 6 to 16 across the world, including Britain, the United States, France and Poland, found that urban centres are generally falling short in providing safe and inclusive spaces for play.
'Play should not be limited to homes and schools. It should extend into our streets, parks and public spaces,' said Goldin.
The Shanghai event coincides with a broader push by the toymaker to widen its reach in China, particularly in the year when Legoland Shanghai Resort is scheduled to open next month.
Covering 318,000 square metres in the city's Jinshan district, the resort, which is the world's largest Legoland, comprises a theme park and a hotel for children aged two to 12 and their families.
It features more than 75 interactive rides, shows and attractions, as well as thousands of Lego models made with over 85 million Lego bricks across eight immersive 'lands'.
Goldin said that, in addition to the resort, locally relevant products, including the Shanghai Skyline set, the Lego Botanical Collection featuring Chinese flora, and the Monkie Kid series inspired by traditional Chinese mythology, are key to better resonating with local consumers.
Niels B. Christiansen, chief executive officer of the group, said earlier this year that 2025 is a big year for the Lego brand in China, pointing to a series of brand activities designed to engage a wide spectrum of consumers, from children to adult fans.
Clifton Chiu, senior analyst at Euromonitor International, said Lego has continued to be the biggest player in the construction toys market for 'kidults' in the Chinese market, with its roster of 18-plus sets.
To engage with evolving fans worldwide, the toymaker is also leveraging global partnerships to tap into consumer passions beyond traditional toy play.
The group recently teamed up with sportswear brand Nike and Formula 1 racing to integrate play into sports culture.
Chiu said the number of brands Lego has collaborated with recently, such as Formula 1, has further increased its popularity by introducing racing fans to the Lego space.
Goldin said of the team-ups: 'We only pursue these collaborations when we can add extra value to the passion point. — China Daily/ANN
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Hong Kong Ballet to debut The Butterfly Lovers in NYC
Hong Kong Ballet to debut The Butterfly Lovers in NYC

The Star

time3 minutes ago

  • The Star

Hong Kong Ballet to debut The Butterfly Lovers in NYC

HONG KONG: This August, in a breathtaking fusion of East and West, the Hong Kong Ballet premieres its award-winning The Butterfly Lovers in New York. This ballet redefines classical storytelling with innovative choreography, all brought to life by the live accompaniment of the New York City Ballet Orchestra. Originating from the Eastern Jin Dynasty (317-420 AD), The Butterfly Lovers has been around for over 1,700 years. It is recognised as one of China's four great folktales and is often referred to as the Chinese version of Romeo and Juliet. Zhu Yingtai, a young woman from a wealthy family, disguises herself as a man so she can attend school, where she meets Liang Shanbo, a fellow student from a humble background. Zhu falls in love with Liang over time. During a visit, Liang discovers Zhu's true identity. He hopes to propose to her, but her parents have already arranged for her to marry a wealthy man. Liang eventually dies from grief. On Zhu's wedding day, her bridal procession passes Liang's grave, and a storm stops them from passing. Zhu runs to the grave, and it miraculously opens. She jumps in, and moments later, two butterflies rise from the grave together, representing a symbol of their eternal love. The ballet show made its debut in Hong Kong on Oct 18, 2024, and received several major awards at the 26th Hong Kong Dance Awards 2025, including Outstanding Choreography, Outstanding Performance by a Female Dancer (Xuan Cheng as Zhu Yingtai), Outstanding Music Composition, and Outstanding Ensemble Performance. The performance was envisioned by Hong Kong Ballet artistic director Septime Webre, a Cuban-American who previously worked with The Washington Ballet. Webre said he wanted to serve the audience with tailored content that reflects the ballet company's roots. Webre said that The Butterfly Lovers sparked his interest as it explores a remarkably progressive theme — a woman seeking education in a time when it was forbidden for females. Webre described it as "a compelling contemporary theme in many parts of the world", which deeply resonated with him. He stated that the elements of modernity and themes of gender and class are still important today. Lead choreographers and writers, the couple duo Songwei Hu and Jingwen Mai, said the piece not only highlights the great love story at its core, but also weaves in themes such as the oppression of the old feudal system and patriarchal society. This ballet blends contemporary and traditional styles in a unique and expressive way. Drawing from their deep experience in Chinese classical dance, choreographers Hu and Mai said they brought in traditional movement elements to challenge and contrast with the upright, structured posture of ballet. "We incorporated more Chinese dance into the upper body," Mai explained. The dance and story were backed by Academy Award winner Tim Yip, who designed both the costumes and the stage. He is known for his art directing work on Crouching Tiger and Hidden Dragon. For this performance, Yip designed 12 moving screen panels. He said those 12 screens help to slow down certain elements of ballet, pushing them into a more ethereal, virtual state. Yip said he wanted to emphasise the idea of "fluidity". He said that unlike Western art, Chinese art emphasises atmosphere and poetic resonance. Instead of laying everything out, it sets a mood that pulls the audience into the feel and flow of the Chinese aesthetic and way of thinking. In partnership with China Arts and Entertainment Group and the Hong Kong Economic & Trade Office in New York, the Hong Kong Ballet will present The Butterfly Lovers for the first time from Aug 22 to 24 at Lincoln Center in New York. "As a Chinese myself, it brings me great joy to share our unique perspective on love. I hope audiences in New York can see that China, too, has its own version of Romeo and Juliet, and feel how Zhu Yingtai, even in that era, was willing to defy her family and fight for love and freedom," Hu said. For his next "ambitious" project, Webre said he has spent years researching and making. It will be a ballet based on the life of Hong Kong's legendary martial artist Bruce Lee. Mixing kung fu and ballet, Webre hopes the performance will premiere in 2027. - China Daily/ANN

Risks remain for exporters even with tariff cut
Risks remain for exporters even with tariff cut

New Straits Times

time2 hours ago

  • New Straits Times

Risks remain for exporters even with tariff cut

KUALA LUMPUR: Malaysia's successful negotiation to reduce the reciprocal tariff imposed by the United States (US) on its exports to 19 per cent from 25 per cent is seen as a strategic step forward, placing the country on equal footing with major Asean peers while preserving key domestic policy priorities. While the new tariff rate did not eliminate trade hurdles, it marked a meaningful improvement compared to the earlier 25 per cent proposal and underscored Malaysia's ability to defend its sovereign economic direction in the face of international pressure. Still, economists cautioned that the relief is temporary and layered with risk. With the US being Malaysia's largest export market, accounting for RM198.65 billion in 2024, economic strain, particularly on manufacturers and small and medium enterprises, might intensify if broader reforms stall. "The tariff may shave off growth, primarily through reduced exports. However, resilient domestic demand such as consumer spending, infrastructure projects and pre-emptive rate cuts by Bank Negara Malaysia (BNM) provide buffers," Centre for Market Education chief executive Alvin Desfiandi told Bernama in an interview. Alvin said BNM's pre-emptive recent rate cut, which was the first in five years, supported Malaysia's economic growth but risked currency depreciation if US rates stay high. He noted that further easing might be necessary if growth fell below 4.0 per cent, but any spike in inflation above 3.0 per cent could limit that flexibility. "Thus, BNM should maintain flexibility for further rate cuts if growth falters, but anchor inflation at 2.0-3.0 per cent," he added. Meanwhile, Alvin believed Malaysia is entering the period of recalibration from a position of relative strength. "Malaysia's economy is navigating tariffs from a position of strength, with BNM's gross domestic product (GDP) forecast for 2025 already pricing in moderate disruption. The focus now shifts to industrial upgrades and market diversification to sustain growth beyond 2025," he added. However, Alvin opined that short-term fallout is difficult to avoid as the 19 per cent tariff would directly impact Malaysia's competitiveness in the US market, especially in key sectors like electronics and semiconductors. "The 19 per cent tariff will raise costs for US buyers, potentially reducing export volumes. This may create a domino effect that will negatively affect investment sentiment and currency movements," he said. Alvin said that tariff exposure would be highest in the electronics and semiconductor sectors, squeezing already-tight profit margins for local manufacturers. He said that Malaysia's reliance on Chinese components further complicated its position under Washington's stricter rules of origin. "Tariffs will highly expose the electronics and semiconductors industry, squeezing margins for manufacturers," he said. The risk of tariff stacking, where goods containing Chinese components are penalised under multiple jurisdictions, adds to exporters' cost pressures, potentially eroding Malaysia's competitiveness even without direct involvement in transhipment. "Since Malaysia's National Semiconductor Strategy (NSS) aims to offset losses by moving into high-value chips and attracting US foreign direct investment (FDI), the government may provide emergency grants for small and medium enterprises (SMEs) to explore new markets," the economist added. Beyond immediate mitigation, Alvin urged Malaysia to convert tariff pressure into opportunity and highlighted the importance of adopting a "tech-for-market access" strategy, trading supply chain transparency for stable US tariffs on semiconductor inputs. The economist said that the need to build green industrial alliances with the US in electric vehicle battery and renewable energy sectors is equally important, with Malaysia serving as a strategic Asean gateway. Moreover, he said Malaysia should also aim to lead on digital rulemaking by co-developing Asean standards in financial technology (fintech) and digital trade with the US. "The country should trade supply chain transparency for stable US market access in semiconductors, form joint green industrial alliances in electric vehicles and renewables, and take the lead in digital rulemaking through US-Malaysia fintech partnerships," he said. Alvin noted that this approach may transform tariffs into a catalyst for high-value FDI diversification, with the October Asean Summit offering a critical platform to lock in sectoral bargains. By conceding tactically on processes such as certifications and monitoring while holding firm on policy sovereignty, he said Malaysia might retain negotiating credibility for future bilateral agreements. Alvin also cited Malaysia Aviation Group's US$19 billion (US$1 = RM4.27) Boeing aircraft procurement as a symbolic but limited tool for rebalancing trade ties with Washington. "The Boeing procurement offers moderate deficit relief and symbolic leverage in tariff talks but cannot single-handedly rebalance trade or guarantee future concessions," he added. Its real value, Alvin said, was in demonstrating diplomatic pragmatism, aligned industrial strategy, and readiness to engage the US without surrendering sovereignty. Meanwhile, economist Dr Geoffrey Williams welcomed the tariff reduction but warned that it still presented significant risks for Malaysia's trade-dependent economy. "A potential 10 per cent drop in exports to the US could cost RM20 billion annually. This underlines the urgency for structural reforms and export diversification," he added. Williams said Malaysia must avoid over-relying on short-term measures or blanket support policies. "Redirecting fiscal savings to indiscriminate bailouts would be politically and economically unwise," he said, adding that businesses should double down on automation, supply chain resilience, and long-term competitiveness. Williams added that the current outcome reinforced the need for Malaysia to fully implement its reform blueprints under the 13th Malaysia Plan (13MP). "It's a reminder that domestic competitiveness must be earned," he said, adding that further negotiations with Washington would be necessary to secure improved tariff terms over time. Alvin concurred that Malaysia's dual-track strategy, namely balancing critical interdependence with the US while engaging its Regional Comprehensive Economic Partnership (RCEP) and BRICS partners, would define its long-term trajectory. He added that the 19 per cent tariffs would consolidate ASEAN unity in the short term, with Malaysia's October summit testing whether economic diplomacy could extract US compromises such as semiconductor exemptions. "However, the longer-term trend is clear: ASEAN will reduce US dependence through RCEP integration and non-Western partnerships. If Trump offers no concessions in October, expect accelerated ASEAN+BRICS cooperation, a tacit admission that the US market is no longer worth sovereignty trade-offs," he said. Alvin pointed out that, ultimately, the shift to a 19 per cent tariff level marked the end of Malaysia's low-cost FDI model but opened a new window for high-value investment if reforms hold. "The tariff parity ends Malaysia's low-cost FDI model but accelerates its transition to high-value niches," he added. With approved investments reaching RM378.5 billion in 2024, both economists agreed that Malaysia has shown resilience and policy clarity. The challenge now is to lock in long-term investor confidence through the execution of New Industrial Master Plan 2030 (NIMP 2030), supply chain repositioning, and bloc-wide diplomacy. Since April, Malaysia has been negotiating with Washington to reduce the previous 24 per cent tariff rate. The Malaysia-US tariff negotiations officially began on May 6 and concluded on July 31, 2025, resulting in a recalibrated 19 per cent tariff rate that now positions Malaysia in alignment with key ASEAN peers such as Thailand and Indonesia. - Bernama

Malaysia's successful tariff negotiation seen as strategic step forward
Malaysia's successful tariff negotiation seen as strategic step forward

New Straits Times

time2 hours ago

  • New Straits Times

Malaysia's successful tariff negotiation seen as strategic step forward

KUALA LUMPUR: Malaysia's successful negotiation to reduce the reciprocal tariff imposed by the United States (US) on its exports to 19 per cent from 25 per cent is seen as a strategic step forward, placing the country on equal footing with major ASEAN peers while preserving key domestic policy priorities. While the new tariff rate did not eliminate trade hurdles, it marked a meaningful improvement compared to the earlier 25 per cent proposal and underscored Malaysia's ability to defend its sovereign economic direction in the face of international pressure. Still, economists cautioned that the relief is temporary and layered with risk. With the US being Malaysia's largest export market, accounting for RM198.65 billion in 2024, economic strain, particularly on manufacturers and small and medium enterprises, might intensify if broader reforms stall. "The tariff may shave off growth, primarily through reduced exports. However, resilient domestic demand such as consumer spending, infrastructure projects and pre-emptive rate cuts by Bank Negara Malaysia (BNM) provide buffers," Centre for Market Education chief executive Alvin Desfiandi told Bernama in an interview. Alvin said BNM's pre-emptive recent rate cut, which was the first in five years, supported Malaysia's economic growth but risked currency depreciation if US rates stay high. He noted that further easing might be necessary if growth fell below 4.0 per cent, but any spike in inflation above 3.0 per cent could limit that flexibility. "Thus, BNM should maintain flexibility for further rate cuts if growth falters, but anchor inflation at 2.0-3.0 per cent," he added. Meanwhile, Alvin believed Malaysia is entering the period of recalibration from a position of relative strength. "Malaysia's economy is navigating tariffs from a position of strength, with BNM's gross domestic product (GDP) forecast for 2025 already pricing in moderate disruption. The focus now shifts to industrial upgrades and market diversification to sustain growth beyond 2025," he added. However, Alvin opined that short-term fallout is difficult to avoid as the 19 per cent tariff would directly impact Malaysia's competitiveness in the US market, especially in key sectors like electronics and semiconductors. "The 19 per cent tariff will raise costs for US buyers, potentially reducing export volumes. This may create a domino effect that will negatively affect investment sentiment and currency movements," he said. Alvin said that tariff exposure would be highest in the electronics and semiconductor sectors, squeezing already-tight profit margins for local manufacturers. He said that Malaysia's reliance on Chinese components further complicated its position under Washington's stricter rules of origin. "Tariffs will highly expose the electronics and semiconductors industry, squeezing margins for manufacturers," he said. The risk of tariff stacking, where goods containing Chinese components are penalised under multiple jurisdictions, adds to exporters' cost pressures, potentially eroding Malaysia's competitiveness even without direct involvement in transhipment. "Since Malaysia's National Semiconductor Strategy (NSS) aims to offset losses by moving into high-value chips and attracting US foreign direct investment (FDI), the government may provide emergency grants for small and medium enterprises (SMEs) to explore new markets," the economist added. Beyond immediate mitigation, Alvin urged Malaysia to convert tariff pressure into opportunity and highlighted the importance of adopting a "tech-for-market access" strategy, trading supply chain transparency for stable US tariffs on semiconductor inputs. The economist said that the need to build green industrial alliances with the US in electric vehicle battery and renewable energy sectors is equally important, with Malaysia serving as a strategic ASEAN gateway. Moreover, he said Malaysia should also aim to lead on digital rulemaking by co-developing ASEAN standards in financial technology (fintech) and digital trade with the US. "The country should trade supply chain transparency for stable US market access in semiconductors, form joint green industrial alliances in electric vehicles and renewables, and take the lead in digital rulemaking through US-Malaysia fintech partnerships," he said. Alvin noted that this approach may transform tariffs into a catalyst for high-value FDI diversification, with the October ASEAN Summit offering a critical platform to lock in sectoral bargains. By conceding tactically on processes such as certifications and monitoring while holding firm on policy sovereignty, he said Malaysia might retain negotiating credibility for future bilateral agreements. Alvin also cited Malaysia Aviation Group's US$19 billion (US$1 = RM4.27) Boeing aircraft procurement as a symbolic but limited tool for rebalancing trade ties with Washington. "The Boeing procurement offers moderate deficit relief and symbolic leverage in tariff talks but cannot single-handedly rebalance trade or guarantee future concessions," he added. Its real value, Alvin said, was in demonstrating diplomatic pragmatism, aligned industrial strategy, and readiness to engage the US without surrendering sovereignty. Meanwhile, economist Dr Geoffrey Williams welcomed the tariff reduction but warned that it still presented significant risks for Malaysia's trade-dependent economy. "A potential 10 per cent drop in exports to the US could cost RM20 billion annually. This underlines the urgency for structural reforms and export diversification," he added. Williams said Malaysia must avoid over-relying on short-term measures or blanket support policies. "Redirecting fiscal savings to indiscriminate bailouts would be politically and economically unwise," he said, adding that businesses should double down on automation, supply chain resilience, and long-term competitiveness. Williams added that the current outcome reinforced the need for Malaysia to fully implement its reform blueprints under the 13th Malaysia Plan (13MP). "It's a reminder that domestic competitiveness must be earned," he said, adding that further negotiations with Washington would be necessary to secure improved tariff terms over time. Alvin concurred that Malaysia's dual-track strategy, namely balancing critical interdependence with the US while engaging its Regional Comprehensive Economic Partnership (RCEP) and BRICS partners, would define its long-term trajectory. He added that the 19 per cent tariffs would consolidate ASEAN unity in the short term, with Malaysia's October summit testing whether economic diplomacy could extract US compromises such as semiconductor exemptions. "However, the longer-term trend is clear: ASEAN will reduce US dependence through RCEP integration and non-Western partnerships. If Trump offers no concessions in October, expect accelerated ASEAN+BRICS cooperation, a tacit admission that the US market is no longer worth sovereignty trade-offs," he said. Alvin pointed out that, ultimately, the shift to a 19 per cent tariff level marked the end of Malaysia's low-cost FDI model but opened a new window for high-value investment if reforms hold. "The tariff parity ends Malaysia's low-cost FDI model but accelerates its transition to high-value niches," he added. With approved investments reaching RM378.5 billion in 2024, both economists agreed that Malaysia has shown resilience and policy clarity. The challenge now is to lock in long-term investor confidence through the execution of New Industrial Master Plan 2030 (NIMP 2030), supply chain repositioning, and bloc-wide diplomacy. Since April, Malaysia has been negotiating with Washington to reduce the previous 24 per cent tariff rate. The Malaysia-US tariff negotiations officially began on May 6 and concluded on July 31, 2025, resulting in a recalibrated 19 per cent tariff rate that now positions Malaysia in alignment with key ASEAN peers such as Thailand and Indonesia.

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