In recent years, China's animation market has been gradually prospered with the screening of many high-quality animation works. At the same time, a large number of high-quality national animation IP has also been born. From "Nezha" to "Legend of Deification" Chinese animation has triumphed both in box office and public praise. Sadly, compared with these achievements, the whole animation derivative industry looks depressed. In this paper, the current developing status of domestic and foreign animation derivatives industry is compared and analyzed, and the foreign successful experience of the development of animation derivatives industry and the problems existing in the operation mode of derivatives in China are summarized. Finally, put forward suggestions for the next development of China's animation derivatives industry.