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Foreign media look into secrets of Chinese brands' success

(People's Daily Online)    13:19, April 15, 2015
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At the beginning of 2015, a survey conducted by Millward Brown, one of the top 10 market research firms in the world, showed that 23 percent of foreign consumers can name at least one Chinese brand, while the figure in 2012 was 3 percent. According to the survey, Chinese brands have made great progress and still have much room for improvement in the future. Foreign media have paid much attention to the development of Chinese brands and looked into the secrets of their success.

An article published on the website of Forbes on April 11 points out that recently, investors have paid much attention to the new development of China's tech companies such as Alibaba, Tencent and Xiaomi. The determination of Chinese government to release the reform bonus has provided the companies with a great opportunity. China's macroeconomic development and macroeconomic policies are the most important factors that push forward the development of those companies. And China's tech companies will enter an era of benign competition.

Reuters recently reported that Alibaba set up its automobile business department. As China's biggest e-commerce company, Alibaba has fully entered the smart life market. In fact, many tech companies have advanced side by side in the smart life market. And as Chinese government deepens the reform and releases reform bonus, those companies have got enough policy supports to expand the market.

About the rise of Chinese brands, an article published on the website of Forbes said that along with the success of Chinese brands and the rising purchase power and changing commodity aesthetic of Chinese consumer, Chinese economy is transforming from a production-oriented economy to a consumption-oriented one. The competition in domestic market will get fiercer. At the same time, Chinese brands will keep growing in competition and get more recognition.

Currently, as the world biggest information and communication solution provider, Huawei holds the core posts in more than 170 standards organizations and open source groups and has obtained a total of 35,611 patent licenses. In early April, the Financial Times reported Huawei's increased investment in new type mobile communication technology. As China's 4G network keeps growing, Huawei is also increasing its investment in research and development. The effort of Huawei is highly rewarding - as 4G gets popular in China, Huawei’s profit rose 32 percent year-on-year in 2014.

In the "Xiaomi Fans Festival" on April 8, Xiaomi sold 1.3 million smart phones in 12 hours, setting a new Guinness record. And on April 23, Xiaomi Tech will launch its new product in India, which according to some analyses is a symbol of the brand's internationalization.

The New York Times comments that the fast growth of Chinese smart phones is an actual challenge to traditional smart phone producers such as Samsung. Xiaomi has a novel development strategy and a brand new commercial model which relies on social network and on-line sales. 2015 will be a crucial year for the internationalization of Xiaomi.

Millward Brown ACSR released its Brand Z top 100 Chinese brands at the beginning of 2015. According to the report, Chinese brands have a great potential and have the fastest growth rate in the world.

According to a report of Reuters, Alibaba, Tencent, Baidu, JD.com and many other Chinese tech companies have advantages in communication, search, retail, smart terminal and other areas. The brand awareness of Chinese brands keeps increasing.

The article is edited and translated from《世界舆论探究中国品牌成功“秘诀”》, source: People's Daily, author:Zhang Penghui and Li Yingqi. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Kong Defang,Gao Yinan)

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