We’re not going to be the only people publishing fantasy and science fiction for children and young adults with multicultural characters and settings, that’s for sure. There are a number of authors out there writing great fantasy, and awesome publishers who are open to bringing these stories to young readers. We want to recognize those books, a
nd hope that our mission to publish great multicultural genre fiction will add to general awareness, not to mention delight and entertain readers — which is the whole point, right?
In the spirit of recognizing those who inspired us to make multicultural science fiction and fantasy (and mystery and historical fiction) our focus, here are some books you should be reading. This is by no means an exhaustive list — just a short list of books we love and recommend (some of which we love so much we’re recommending them while still reading them!), not counting all those great books we haven’t had a chance to read yet. We’ll probably add to this list as we get the chance to read more books. We didn’t include sequels, either–if you like the first book, be sure to look for more!
Across the Nightingale Floor, by Lian Hearn
Book of a Thousand Days, Shannon Hale
City of Fire, Laurence Yep
Dragon of the Lost Sea, Laurence Yep
Devil’s Kiss, by Sarwat Chadda
Eon: Dragoneye Reborn, Alison Goodman
Extras, Scott Westerfeld
Flora Segunda, Ysabeau S. Wilce
How to Ditch Your Fairy, Justine Larbalestier
In the Serpent’s Coils, Tiffany Trent
Libyrinth, by Pearl North
Little Sister, Kara Dalkey
Magic or Madness, Justine Larbalestier
Moribito: Guardian of the Spirit, Nahoko Uehashi
Silver Phoenix, Cindy Pon
Sucks to Be Me, Kimberly Pauley
Tantalize, Cynthia Leitich Smith
The Ear, the Eye, and the Arm, Nancy Farmer
The House of the Scorpion, by Nancy Farmer
The Shadow Speaker, Nnedi Okorafor-Mbachu
The True Meaning of Smekday by Adam Rex
Where the Mountain Meets the Moon, Grace Lin
A Wizard of Earthsea, Ursula K. Le Guin
Tu Publishing's editorial director Stacy Whitman has worked as an editor at a trade magazine, at Houghton Mifflin's school division, and at Mirrorstone, an imprint of Wizards of the Coast, where she worked on children's and young adult fantasy. In her current day job, she is the publication manager for the Astronomical Society of the Pacific Conference Series. She holds a master's degree in children's literature from Simmons College. 
Some more fantasy stories I’ve enjoyed that fit the criteria:
Diane Duane’s So You Want to Be a Wizard.
Anne Ursu’s The Shadow Thieves.
DC Comics’s Blue Beetle, vols. 1-4.