China’s State Council has approved a “Chinese Brands Day,” (中国品牌日) to be held on May 10 each year starting this year, according to a statement made public today.
The cabinet’s decision was in response to the request for instructions filed by China’s top economic planner, the National Development and Reform Commission (NDRC).
Detailed work for the day will be done by the NDRC and other government departments, the statement said. With increased focus on branding by Chinese manufacturers these days the decision might serve as a good reminder that branding is more important today than ever. Chinese brands such as Lenovo, Huawei and Alibaba are more active than ever, in China as well as on a global scale.
The plan to create the day appeared in a guideline on making full use of brands’ role in upgrading supply and demand structure issued last year by the State Council. Chinese Brands Day will publicize brands owned independently by Chinese companies and tell the stories of the brands and raise brand recognition.
Just a few days NASDAQ released news that Alibaba’s IPO was the largest ever, where the Chinese e-commerce giant managed to raise over $25 billion in capital, which makes Alibaba’s IPO the largest ever in terms of raised capital.
Visit our work-section to see how we have helped Chinese brands go International, and International brands entering the Chinese market. Volo is a full-service independent digital agency that helps build, launch and grow businesses and brands together with clients all over the globe.