The first exposition devoted to Chinese domestic brands is underway in Shanghai. The three-day event began, fittingly, on May 10th – Chinese Brands Day. It’s part of China’s increased efforts to build awareness of its own products. C
GTN’s Hu Chao reports.
It’s a day to celebrate Chinese brands.
The first Chinese Indigenous Exposition got underway in Shanghai on Thursday morning. Around 600 Chinese companies and more than a thousand guests gathered in the Shanghai Exposition Center for the event.
Several major state-owned groups set up their booths in the central exhibition hall. They included representatives from the industries of aerospace technology, mobile communications and high-speed train manufacture.
An international forum on China brand development was also held on Thursday. Zhang Shuting, director of the Communications University of China’s Business Brand Institute, was there. He says that while some Chinese brands have developed rapidly in recent years, many still face serious challenges.
“China now has many prestigious brands with very good products, including home appliances and some high-end manufacturers,” he explained. “But many companies still seek quick success, which leads to a lack of integrity and innovation. Tackling these problems needs joint efforts from the government and companies, as well as the consumers.”
Director Zhang also believes the recent ZTE case can actually encourage for domestic companies to focus on technological innovation.
“The recent China-US trade frictions, especially the ZTE case, provided us with the chance to reflect on ourselves. It made us realize that Chinese companies should master the core technologies instead of being dependent on foreign technology. At the end of the day, technological innovation lays the foundation of brand building,” said Zhang.
The Shanghai exposition will last for three days and is open to the public for free.
Since last year, May 10th has become a day in China to celebrate the country’s own brands. This means that China has started to focus more on improving the quality and branding of its products. Eventually, China hopes to share more of its products with the world.
Dean Crutchfield discusses the growing potential of Chinese brands
CGTN’s Mike Walter spoke to Dean Crutchfield to find out more about Chinese Brands Day. Crutchfield is the CEO of Crutchfield and Partners, a New York-based brand advisory firm.