Xinhua Silk Road: China now in best period to build itself into a brand powerhouse, Wuliangye board chairman

PRNewswire May 12, 2023

BEIJING, May 12, 2023 /PRNewswire/ — When high-quality development advances all around, China is seeing industrial development transforming from the past production-driven mode to a brand-led one and embracing the best period for building a brand powerhouse now, said Zeng Congqin, board chairman of Chinese Baijiu maker Wuliangye Group on Thursday.

Wuliangye products at the 2023 World Brand Moganshan Conference (PRNewsfoto/Xinhua Silk Road)

Zeng made the remarks on the opening ceremony of the 2023 World Brand Moganshan Conference, highlighting that the three brands incubation peaks in world’s brand development history all occurred in countries where both economy and innovation grew by leaps and bounds.

Nowadays, industries of varied types in China are stepping towards the high ends of global value chains and industrial chains and building world class enterprises and crafting brands matching with the modernization path with Chinese characteristics represent an indispensable mission of the times and an opportune strategic choice, noted Zeng.

As a typical national brand and industry-leading company, Wuliangye always bears in mind the top priorities of the country and places branding work in a more important position to seize the chance to strengthen its brand personality and influence, added Zeng.

Among the 2022 World’s 500 Most Influential Brands released by World Brand Laboratory, an international brand value research institute, Wuliangye ranked the 239th amid the 45 Chinese brands included and has been on the list of the type for six consecutive years with double-digit ranking rises every year.

Currently, more and more Chinese brands are deeply involved in global market to further sharpen Chinese brands on the world stage. 

In China 500 2023 report released on May 9 by Brand Finance, the world’s leading brand valuation consultancy, Wuliangye’s brand value increased 17 percent from last year to 217.133 billion yuan, marking the seventh straight yearly growth and was rated the highest AAA+ rating.

To further the Chinese Baijiu producer’s branding journey, a three-pronged approach was shared by Zeng, prioritizing product quality as the fundamental of branding, culture as the soul of brand value, and adherence to inheritance and innovation in creating world class brands.

The 2023 World Brand Moganshan Conference is jointly hosted by Xinhua News Agency, China Council for Brand Development and Zhejiang provincial government in Deqing County of Huzhou City in east China to promote Chinese brands.

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SOURCE Xinhua Silk Road

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