Top Biz News

Shanxi steps up brand development

By Li Huayu (chinadaily.com.cn)
Updated: 2006-08-14 08:45

Shanxi's nine famous brands - Xinghuacun, Shuita, Keon, Tunyu, Orient, Zhuyeqing, Guanyun and Yabao, became the candidates for the Brand Promotion program initiated by the Ministry of Commerce.

Upon approval from the Bureau of Commerce of Shanxi Province, two of the brands will finally be granted with funds from the ministry to recommend, promote and protect brands, according to an official with the Brand Promotion team.

Statistics show that there are only 2,000 enterprises with intellectual property rights (IPRs), less than 1/10,000 of the total number of enterprises. Due to lack of IPRs, the export growth mainly depends on quantities and result into low profit margins and frequent trade disputes.

The Brand Promotion campaign, which will pass 51 cities within 129 days, will allocate 600 million yuan to the provinces involved to support the development of self-owned brands. Each province will be granted with at least 5 million yuan.

The remaining fund will be allocated to key brands with top general trade export volume, social consumption volume or specially supported by the Ministry of Commerce according to a ratio of 3:3:4 among the three.

The fund Shanxi got from the campaign will be mainly used to revitalize time-honored brands, develop domestic famous brands and foster competitive world-class brands.