China has become the major contributor to the growth of global trademark registrations and the leader of the world's innovation and brand development, a senior official said at the 2017 China Brand Forum in Beijing.
"Trademarks are the symbol of an enterprise's brand and the main way to ensure the brand obtains legal protection," said Liu Junchen, deputy director of the State Administration for Industry and Commerce.
Chinese companies have so far registered 17 million trademarks, accounting for 40 percent of the total amount worldwide, Liu said.
According to the 2017 BrandZ Global Top 100 Most Valuable Brands report, 13 of the top 100 brands were from the Chinese mainland last year.
"China has made significant progress in branding, but still has huge potential ahead," Liu said.
"The brand is the dominant signal and symbol of market competition. It is a concentrated reflection of hidden signals such as quality, innovation and credit," said Chen Gang, deputy director of the General Administration of Quality Supervision, Inspection and Quarantine.
Building a brand is an effective way to resolve market failures and achieve better prices, Chen said.
After more than 30 years of improvements in quality management, the quality check pass rate in China has steadily risen from 70 percent in the 1980s to over 90 percent today.
The overall quality standards in the country have reached the level of moderately developed countries, according to Liu Pingjun, director of the China Council for Brand Development.
"China is an economic power in the face of global competition," said Ma Peihua, vice-chairman of the Chinese People's Political Consultative Conference National Committee, the nation's top political advisory body.
"Brand power has been paving the way for the country to demonstrate competitiveness and culture."
Source: China Daily