Famous brands are stuck in past

11:14, November 08, 2010      

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The capital's so-called time-honored brands are being urged to learn more about financing tools so they can continue their development and break into overseas markets.

Brands that are known as "time-honored" have names that are famed among locals and that have been in existence for many decades.

However, experts are warning that a long past is no guarantee of a bright future.

"There are no time-honored brands in Beijing using venture capital at all," said Zhang Jian, secretary-general of the Beijing Time-Honored Brands Association.

Zhang said many time-honored brands in Beijing need significant amounts of capital for their development but few want to borrow.

Most time-honored brands depend on their earned profits or financial aid from the government and only four of the 170 members of the association are listed on the stock exchange.

"The stock market is the most obvious way for time-honored brands to finance themselves," said Xie Xuejun, the principal of SALF (Beijing) Advisors Ltd, a privately-offered fund management company.

Xie delivered a lecture about financing to managers from time-honored brands during the main forum of the 2010 China Time-honored Brand Exposition on Nov 3 in Beijing.

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