Shares of Pop Mart International Group Ltd. jumped 5.2% in Hong Kong Thursday after China's National Development and Reform Commission signaled support for intellectual property-driven consumption. The boost came in a policy report to the national parliament outlining plans for 2026. Miniso Group Holding Ltd. and Bloks Group Ltd. also climbed, rising 2.3% and 3.8% respectively.

China's economic planner said the country will "develop intellectual property-related consumption and support cross-industry collaborations between high-quality consumer resources and well-known IPs" to boost overall consumption. This targeted support for the IP sector comes as China sets its lowest growth target since 1991 amid economic challenges. The IP-driven toy and collectible market has been one of the few bright spots in China's struggling economy.

The policy shift reflects Beijing's growing emphasis on consumption as a core growth engine, particularly as traditional drivers like property and manufacturing falter. Pop Mart has emerged as a breakout success, riding global demand for collectible toys to rapid overseas expansion and surging revenue over the past two years. Despite early policy efforts to boost domestic demand, consumption remains weak as consumer sentiment lags amid a slumping property market and dimmed job prospects.