BEIJING, Oct. 22 (Xinhua) – Port city Ningbo of east China’s Zhejiang Province has just held the Ningbo Brand Festival in an effort to strengthen brand economy building and upgrades.
Ningbo is one of the pioneers for brand building in China. In 2017, the sales value of the city’s famous industrial brands accounted for some 40 percent of its total sales of industrial enterprises above designated size.
Ningbo should play the leading role of famous brands for achieving high quality economic development, and the Ningbo Brand Festival could facilitate such process by acting as the platform for presenting outstanding brands and raise overall brand awareness, according to Liu Pingjun, president with China Council for Brand Development.
Ningbo boasts many famous brands especially in clothing, textile and home appliance industry, according to Cheng Lu, president with the Association for Promotion of West China Research and Development.
What’s more, the name of “Zhejiang” and “Ningbo” are well-known brands themselves, which could drive regional economy and act as impetus for local enterprises and product development, said Cheng Lu.
Moving forward, Ningbo could achieve brand economy 3.0 through smart manufacturing and Internet Plus, and make use of its location advantages to advance brands’ internationalization, according to Zhou Zhiyi, chief editor with the Xinhua-run magazine China Top Brands.
Brand building should go deeper and broader with more work on brand standardization, brand evaluation, brand credit, brand culture as well as brand finance, according to Zhou. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)