Branding initiative triggers Jinan's foreign trade

: 0 Comment(s)Print E-mail China Daily, October 31, 2011

Adjust font size:

Jinan, the capital city of China's Shandong province, is claiming great success in its bid to develop a range of branded products.

Triggered by the development of branded products, Jinan's foreign trade reached $7.84 billion during the first three quarters, a year-on-year increase of 47.2 percent.

Branded products contributed about 71 percent to Jinan's exports during the first three quarters, standing at $3.18 billion, according to the statistics from the Jinan Commerce Bureau.

The developing brand initiative is led by the Linuo Power Group, whose export increased to $99.17 million in 2010 from 2009's $30.15 million.

During the first three quarters, Linuo sold $95.79 million worth of products to overseas market, a year-on-year increase of 53.8 percent.

"If companies want to be competitive on the international stage, they have to develop their own brands," said Shi Tongwei, head of the Jinan Commerce Bureau. Since 2009, the Jinan government has spent 10 million yuan ($1.58 million) supporting local companies in expanding to overseas markets by developing their own products.

The local government focuses on developing iron and steel, textiles, pharmaceuticals and chemicals, and mechanical and electrical products.

Jinan plans to establish at least 100 brands in the next five years.