On June 20, the Financial Times of the United Kingdom spotlighted the phenomenon of the Labubu plush doll's soaring popularity. Crafted by a Chinese company, this doll has sparked a global buying frenzy, propelling the company into the ranks of the world's most valuable toy manufacturers with annual sales nearing $2 billion. Labubu's popularity signifies a remarkable breakthrough for Chinese consumer brands in the global market, demonstrating the reach and appeal of Chinese intellectual property on a global scale.