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Branding to further boost China's economyBy Xie Chuanjiao (China Daily)Updated: 2006-12-21 08:50 China plans to further boost its world economic status through branding. "Branding is a decisive factor in the world's economic development, and in some cases, an established world brand's overall value is even bigger than that of a middle-sized country," said Sun Bo, director of the quality management department of the General Administration of Quality Supervision, Inspection and Quarantine, yesterday. China now has seven products with six brands that are famous worldwide - Haier refrigerators and washing machines, Huawei programmed control switchboards, Zhongxing programmed control switchboards, Zhenhua container cranes, Gree air-conditioners and Sunshine worsted woollens. The sales volume of the products ranks among the top five in their world markets. "We will still have to make them even more recognized worldwide," Sun said. He said the bureau would help enterprises upgrade quality insurance, measuring and testing systems, and encourage them to apply international rules and standards. For good branding products, the bureau will also offer inspection-free and simplified customs services. Domestically, branding has made a remarkable contribution to spurring economic development in the past five years, according to the China Branding Strategy Development Report released yesterday. Statistics show that brand products of or above provincial level contributed 4.34 per cent to the national industry last year. In the same year, 30 per cent, or 406 of 1,338 Chinese popular brands were new high-tech products. Brand products have also promoted exports, agriculture, and contributed to regional economic development. However, compared with many established foreign brands, the overall competitiveness of Chinese brands is still weak. In this year's list of the world's top 100 valuable brands published by BusinessWeek, none were from the Chinese mainland. Even among the world's top 500 enterprises, the 22 listed, including those from Hong Kong and Taiwan, were mainly from the monopoly or energy sectors. The Chinese mainland had only three: BaoSteel Group, First Automotive Works and Shanghai Automotive Industry Corporation. Rong Jianying, deputy secretary-general of China Branding Strategy Committee, said Chinese enterprises have not had the same number of years as their international rivals who have shaped their current brands status through decades or even over a century. "But we have very good potential," Rong said. To date more than 200 kinds of Chinese products rank first in the world in sales volume. "The core strength needed is to improve private intellectual property rights and patent rights," Rong said. (For more biz stories, please visit Industry Updates)
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