Why does it matter that it's Chinese?

The designer, BTW, was born in Hong Kong long before it was handed back to the CCP, spent his childhood from age 6 onward in the Netherlands, and now lives in Belgium. It was originally sold by a Hong Kong company in Taiwan before the product line moved to China's Pop Mart. The character is inspired by Northern mythology illustration books he read as a kid.

I'm not into Labubu and don't buy stuff like that, but that a global fad has thoroughly blended West/East origins seems rather appropriate and very fine.