Chinese Brands Shine on World Stage
The World Brand Lab included 37 Chinese brands in its 2017 World's 500 Most Influential Brands recently, recognizing more brands from China than 2016.
"In the current information era, brands reflect strength of business players and their positions in innovation-driven development. This is the 14th time the World Brand Lab releasing such list, contributing to inspiring market players to build their brands," said Xie Jinghui, a brand expert from Shanghai Academy of Social Science to CIP News.
New changes can be found in the 2017 list. Relying on its leadership inartificial intelligence (AI) strategy, Google, runner-up in 2016, hit the top, pushing Apple, the champion in 2016 to the second. Amazon occupied the third place for steadily implementing new retail modes.
Among the Chinese brands in the list, State Grid, Tencent, Haier, Huawei, CEFC, TSINGTAO, Wuliangye, Air China and China Taiping caught the eyes. In 2016, 36 Chinese brands can be seen on the list, which became home to 37 Chinese brands in 2017. Freshmen joining this upward trend were China Southern Power Grid, CRRC and Wuliangye.
Some have done better than others. State Grid, Tencent, Haier made the top 50, aka the first tier of the list. Haier was the only brand from the home appliances industry appearing in the top 50.
Haier adhered to self-reliant brand strategy, targeting to build up "four kinds of brands". First, brands for innovation. Pursuing creations and changes, actively expand new business sectors, and overall optimizing quality of life and environment in an innovative and unique way. Second, brand for sustainable development. Sticking to green concept, and building a consolidated base for long-term social development. Third, brand for customer first. Devoting all heart to each detail and satisfying the need of clients, to achieve customer-centered innovation. Lastly, brand for sophisticated solutions. Tailoring systemized modern life solutions for consumers and creating more colorful life experience and better living environment.
State Grid and Tencent were also the flagships of the Chinese brands. State Grid owned 18 national laboratories, invited and groomed hi-tech talents and broke tech barriers set up by big internationals with its core electric technology such as extra-high voltage and intelligent grid, moving up the ladder from the 36th in 2016 to 32nd in 2017. Wechat, developed by Tencent, had housed over 70 million registered users overseas. Globalization strategy for Tencent was even more clear as online payment was added into the new Wechat version. Wechat has been bringing Tencent closer and closer to the center stage overseas.
"Builiding a brand is urgent for implementing innovation-driven development strategy and driving market players to compete internationally," added Xie, "Our tasks in taking on the challenges include making Chinese brands carrying more weight, facilitating the changes from Made in China to Created in China, from Chinese speed to Chinese quality and from Chinese products to Chinese brands."
(Source: China IP News)