Chinese companies expand to global markets, with international branding
Chinese brands, from home appliance vendors to car makers, are seeking overseas market opportunities to develop new streams of revenue, gradually establishing global brand awareness, Shanghai Daily learned during the ongoing 2023 China Brand Day event.
Meanwhile, consumers are willing to spend more for tech-savvy products with special innovation and design, which helps them expand into high-end market segments.
The brand day event is being held at the Shanghai World Expo Exhibition and Convention Center between Wednesday and Sunday. More than 1,000 domestic firms are showcasing their latest products and technological achievements.
Home appliance giant Hisense displayed its latest 100-inch TV with 8K definition, with a retail price up to 150,000 yuan (US$21,740).
Shanghai is one of Hisense's best-selling markets for high-end laser TVs, which cost over 100,000 yuan, said a staffer at the booth.
The consumer demand for display products is no longer just audio-visual, they also pursue tech innovations to bring a higher-quality lifestyle, said the staffer.
The company, now the world's No. 2 TV maker, said it would surpass Samsung to become the world's top TV marker in several years, fueled by driving forces such as overseas market expansion and high-end market opportunities.
Also during the China Brand Day event, luxury electric vehicle (EV) maker Human Horizons displayed three HiPhi models. The cars feature rotatable intelligent control panel, HiPhi robot supporting voice control, specially designed door-opening without handles and customized welcome lighting strips.
In recent months, HiPhi has been the best-selling luxury EV domestically. It will speed up global expansion in 2023 to tap into opportunities including Europen and Middle East markets.
"In the past, we introduced brands from all over the world to China, today, we want to bring Chinese brands to the world," said Ding Lei, HiPhi's founder.
With high-quality products, innovative brand concepts and diversified marketing strategies, Chinese brands have been gaining international recognition and reputation. On Amazon's global site, more and more Chinese companies have gained brand awareness with technological innovation, craftsmanship, green development and brand marketing, said Amazon in a latest report.
They are turning to "global brands" rather than "Made-in-China" plants, said Amazon.
Some Chinese brands are promoting green and low-carbon production at the event.
Captain Zhai Mo showed up at the China Mobile booth as the carrier sponsored his 500-day non-stop voyage. He became the first man to successfully circle the Arctic Ocean with a sailboat from Shanghai Port in 2021.
Zhai, who saw many melting glaciers, encouraged visitors to live a green and sustainable lifestyle, as the planet faces challenges like climate changes.