More Chinese brands among best in world

Chinese brands are beefing up their presence on the global stage with an increasing number of national brands reaching world-class levels, top officials said Friday.

"In the past few years, Chinese brands have achieved great success in improving quality and innovation, showing our strong confidence in reshaping the image of Chinese brands," said Ma Peihua, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, during a conference held by People's Daily.

He added that national brands are transforming from "made in China" to "created in China", from "Chinese speed" to "Chinese quality", and from "Chinese product" to "Chinese brand".

According to an annual report by Brand Finance, a UK-based independent branded business valuation consultancy, Chinese brands ranked second globally in terms of brand value in 2017.

Over 50 Chinese companies, including Industrial and Commercial Bank of China and China Mobile Communications Corp, became the global 500 most valuable brands this year, while the figure was only 19 in 2011.

"Brands from Chinese companies are an important indicator to show our comprehensive national power. They also signal that Chinese enterprises are striding into the world," said Chen Feng, board chairman of Hainan Airlines. "Our company has also been scrambling to build our own brand."

Hainan Airlines, founded in 1993, has transformed itself from a traditional aviation company to a conglomerate with businesses spanning finance, leasing, hotels and real estate.

The company said it has assets now valued at more than 600 billion yuan ($90 billion) and an international workforce of around 200,000 employees across North America, Europe and Asia.