Innovation crucial for Chinese brands to go global, say entrepreneurs

Innovation and pursuing new technological breakthroughs are the key for Chinese brands to go global, said guests at a China Media Group (CMG) event.

The CMG's CCTV business channel recorded its New Year's Eve Speech program at the National Aquatics Center in Beijing on Dec 26. The event invited business leaders from prominent Chinese manufacturing enterprises to share their experiences in expanding into global markets.

Gao Dekang, founder and chairman of Bosideng, one of China's leading clothing brands, shared the company's journey to globalization. He said that through innovation, Bosideng is currently supporting extreme adventure activities with excellent technology, and successfully achieved its goal of expanding from the Chinese market to the world.

"Around 2014, we faced unprecedented challenges. Changes in the external environment and the aging of brand awareness put us in a difficult situation. At the critical moment, we reclaimed our original intention, focused on the main channel, reshaped the brand power, product power, and channel power, and did our utmost to specialize in down jackets. In 2018, based on our achievements, we positioned the brand as a high-end one, and strengthened the integration of international high-potential resources and the internationalization of the brand. We integrated the creative design and technological functions of Eastern and Western cultures and demonstrated the professional strength and fashion creativity of Chinese brands to the world," Gao said.

Wang Wei, executive president of Chinese dairy giant Yili, shared how the company built a global dairy innovation center through full industry chain layout and technology research and development.

Wang said Yili's breakthroughs in its global production network has won a worldwide reputation for Chinese dairy products.

"We currently have 81 production bases around the world. The production of milk has now been fully digitized and intelligent. The smart brain controls the entire workshop, and modern equipment such as unmanned vehicles, mechanical arms and robots is readily available. We now also have the world's fastest filling machine, with 11 packs of milk coming off the line every second," Wang said.

In addition to the Yili Global Innovation Center in Inner Mongolia, the company also has innovation centers in the Netherlands and New Zealand, bringing together top scientists from around the world.

In their speeches at the CMG event, entrepreneurs said that in the future, Chinese brands will continue to focus on quality and innovation and shine more brightly in the global market.

Innovation crucial for Chinese brands to go global, say entrepreneurs

China's sharp countermeasures against U.S. "reciprocal tariffs" demonstrate the country's zero tolerance towards actions that undermine the global multilateral trading system, according to an expert.

Amid widespread opposition, U.S. President Donald Trump on Wednesday signed an executive order on the so-called "reciprocal tariffs", imposing a 10-percent "minimum baseline tariff" on all imported goods and higher rates on certain trading partners. The order took effect from Saturday.

For China, it faces a 34-percent tariff from the United States. That was on top of the existing tariff of 20 percent.

Following the U.S. decision to impose "reciprocal tariffs" on Chinese exports to the United States, China's Customs Tariff Commission of the State Council said Friday that the move taken by the U.S. does not conform to international trade rules, seriously undermines China's legitimate rights and interests, and represents a typical act of unilateral bullying.

It also announced that China will impose additional 34-percent tariffs on all products imported from the United States starting from April 10.

Wang Yaojing, assistant professor of economics with Peking University, pointed out that China's countermeasures shows its clear stance in opposing unilateralism and protectionism.

"China's countermeasures clearly demonstrate zero tolerance against actions that seek to undermine the global multilateral trading ecosystem. These harmful moves have far-reaching consequences for the global economy. And China's countermeasures are both well-prepared and timely," Wang emphasized.

China’s countermeasures show zero tolerance towards US unilateralism, protectionism: expert