Pop Mart shares rise on China policy support for IP sector

Pop Mart International Group Ltd., a Chinese collectible toy retailer, reported its Hong Kong shares jump as much as 5.2% after China’s National Development and Reform Commission signalled support for intellectual property consumption in a report to the national parliament outlining 2026 policy plans.

The NDRC said it will develop IP-related consumption and support cross-industry collaborations between high-quality consumer resources and well-known IPs to boost consumption.

Miniso Group Holding Ltd. and Bloks Group Ltd. also rose in Hong Kong, climbing as much as 2.3% and 3.8%, respectively.

The IP-driven sector is one of the few bright spots as shoppers cut back amid a slumping property market and dimmed job prospects.

Pop Mart has expanded overseas over the past two years as demand for collectible toys increased, a trend that helped lift its sales and international presence.

🔗 Source: Bloomberg

🧠 Food for thought

Implications, context, and why it matters.

China is pushing intellectual property consumption as part of a wider national plan

The National Development and Reform Commission (NDRC) plan to raise domestic intellectual property (IP) consumption fits into a broader push to defend Chinese IP overseas and expand its reach globally.
A new Foreign Trade Law takes effect March 1, 2026. It adds trade sanctions for IP infringement when it endangers the order of foreign trade, plus retaliation when China’s IP lacks adequate protection abroad 1.
By the end of 2025, authorities will have set up 99 overseas IP dispute response guidance platforms across 30 provinces, regions and municipalities 2.
In 2025, the platforms delivered guidance and consulting services more than 4,800 times. Work on overseas trademark squatting, when someone registers a brand name before its rightful owner, helped enterprises recover 2.75 billion yuan ($390 million) in losses 2.

Pop Mart adds momentum to Chinese brands built on culture and creative IP

Pop Mart’s overseas growth over the past two years offers a playbook for Chinese companies that want global brands built on culture and creative IP, rather than only manufactured goods.
In the first half of 2025, Pop Mart’s revenue in the Americas rose 1,142.3% year-on-year 3.
Government support for cross-industry collaborations between high-quality consumer resources and well-known IPs may spur similar moves in gaming, animation, and digital media, which could pressure Western incumbents.
China’s tougher IP stance may also raise trade friction. New laws allow countermeasures tied to foreign IP disputes, which can turn corporate lawsuits into diplomatic conflicts 1.