Chinese brands set to move up the value chain

More efforts should be made in the globalization of Chinese brands so local companies can move up higher in the global value chain, speakers at the International Forum on China Brand Development held in Shanghai said on Friday.

State Councilor Wang Yong said at the forum the stronger positioning of Chinese brands will offer more choices for consumers worldwide. But it should be noted that the recognition of Chinese manufacturing brands is not on par with the industry's scale and capacity.

The forum was held to inaugurate the third China Brand Day, which the State Council approved in 2017 to fall on May 10 every year.