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Chinese Brands on the Rise
Domestic brands are becoming strong enough to challenge the world's top 500 on the global stage in three to five years, according to a report by the Beijing Famous-brand Evaluation Co., Ltd.
The report cited FAW (First Automobile Works), Haier (a household appliances brand) and Legend (a computer brand) as possible candidates.
The evaluation company Wednesday released its sixth annual report on the ranking and value of 32 major Chinese brands in 18 industries.
Company representatives said they based their judgments on a mix of sales, profitability, comparison with similar products and input in image building.
The report said that Chinese brands are growing rapidly and are likely to catch up with world famous brands in the next half decade.
Sales of Chinese brands are on the rise. The first ten most valuable brands, for example, increased 30.9 percent in annual sales on average, said the company.
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