Since the Chinese government implemented its brand strategy in 2001, all kinds of Chinese-funded companies have been vigorously pursuing technological innovations in order to expand into global markets and improve competitiveness.
China began the promotion of brand strategy in 2001 to facilitate the advancement of Chinese enterprises and products.
Certainly, the three words "made in China" are gaining more and more world attention.
Yu Xianzhong is an official with China's General Administration of Quality Supervision. He says that China is constantly looking for ways to help improve the global reputation of the Chinese brand.
"Linked by famous products and centered on prestigious manufacturers, the brand effect will effectively promote the readjustment of overall product structure and the connection between products and enterprises. It is greatly conducive to the healthy development of the economy," said Yu.
State-owned enterprises are still the mainstay of the Chinese economy. After years of reform of the capital management system, increasing numbers of competitive SOEs have come up with their own famous branded products.
Last year, eight Chinese SOEs were listed on Fortune 500, including the State Grid Corporation, Shanghai Baosteel and China National Petroleum Cooperation.
As one of the large state-owned companies, China Railway Engineering Corporation has also benefited greatly from this branding strategy.
"By 2004, our company, under the promotion of the brand strategy, had become the leading company in Chinese construction field, ranking 14th among world construction contractors. Our company's brand has been valued at about 45.1 billion yuan," said Qin Jiaming, president of China Railway Engineering Corporation.
Meanwhile, Chinese private-owned companies are also showing off their true colors.
This can be best demonstrated by China's most famous private-owned company, Lenovo Group, and its acquisition of IBM's PC business last year.
In addition, Chinese ex-pats have also joined in the effort to promote Chinese brands.
(CRI.com February 16, 2005)
