[Cai Meng / China Daily]

Floating above one of many lanes in the crowded Yiwu Small Commodities Market in Zhejiang province, a balloon shark is "swimming" in the air, waving its tail. Unlike traditional balloons that float whichever way the wind blows, the shark responds to a remote controller.

The toy was a hit with middlemen who did their pre-Christmas shopping months ago in the market that boasts to be the world's largest seller of mass-manufactured retail shop goods. Electronic toys like the shark, or cars that transform into robots as they scoot around, are the big items this year.

Fan Yueqiang, owner of the store that sells the shark, hailed it as a best-seller that he picked up from the Yiwu Baibian Electronic Technological Co.

"Clients from the Middle East and India liked the shark very much," he said. "I sold almost 20,000 such sharks during peak season in June and July," he said, adding foreign wholesale buyers bet the sharks would appeal as Christmas presents for children.

"I heard some people say Christmas sales was not good this year in Yiwu. This is not the case for me. The sharks alone brought me 15 percent more profits than last year."

A frequent buyer of Yiwu products is Indian merchant Pradeep Mannu Dadlani. He was on the hunt for toys to kitchenware he looks to re-sell globally. He also noted that low-cost electronic toys dominate demand.

"Electronic toys might be the new darling for Christmas purchases because most of my clients, be they in South America or the Middle East, love these things," he said, saying prices run around 100 yuan ($16) once they reach the retail shop.

"People are looking for holiday presents that are more cost-efficient," he said. "Some might cut or simplify holiday decorations, but most people will not skip giving children presents."