Players of Portugal celebrate after the UEFA Euro 2024 Round of 16 match between Portugal and Slovenia in Frankfurt, Germany on July 1, 2024. (Xinhua/Ren Pengfei)
BEIJING, July 4 (Xinhua) -- The UEFA European Football Championship, as one of the traditional football gatherings, fascinates sports fans worldwide. Chinese fans are particularly excited about this year's Euro 2024 as Chinese brands shine all round the football pitch with eye-catching elements, showing the international influences of those brands in global market extended.
Among the 13 official global sponsors announced for Euro 2024, Chinese brands occupy five seats including the TV brand Hisense, Alipay and cross-border e-commerce platform AliExpress, the mobile phone brand Vivo and the electric vehicle giant BYD.
This is the second consecutive time that China has become the country with the most sponsors at the European Football Championship.
As the rapid expansion of China's foreign trade and growing exports of Chinese products, Chinese brands are gaining popularity and extending global influences among overseas market.
UEFA Euro 2024 official sponsors. (Source. UEFA.com)
-- Chinese brands' impressive overseas performance
Currently, Chinese brands are present in more than 200 countries and regions worldwide, and 48 Chinese brands have been listed as the China's 500 most valuable brands, which played a significant role in enhancing the added value of export products, according to the China Council for the Promotion of International Trade (CCPIT).
Brands showcase the competitiveness of enterprises and even countries, and are important resources for winning the market, said Zhao Ping, a spokesperson for the CCPIT.
Photo shows that China's new energy vehicle giant BYD is designated as one of the sponsors for UEFA Euro 2024. (Source: BYD)
In 2023, China exported 1.203 million new energy vehicles (NEVs), up 77.6 percent year on year, with export destinations covering more than 180 countries, statistics from China Association of Automobile Manufacturers (CAAM) showed.
China's cosmetics export volume reached 6.51 billion U.S. dollars (about 47.33 billion yuan) in 2023, increasing by 16.7 percent year on year. The top five markets are the United States, Hong Kong, the United Kingdom, Japan, and Indonesia, accounting for 48.7 percent of China's total cosmetics export volume, according to China Chamber of Commerce for Import and Export of Medicines and Health Products.
As of the end of March this year, Super Hi International Holding Ltd. has operated 119 Haidilao hot pot restaurants in the overseas market. Xiabuxiabu Catering opened its first hot pot restaurant in Singapore in 2023. Other hot pot brands such as Zhuguangyu, Shujinxiang and Tanyaxue also actively deployed in the overseas market.
More and more Chinese brands received increasing recognition from overseas consumers as they pursued market expansion alongside high-quality growth featuring innovation and localization.
-- Tapping huge potentials in global market
In recent years, with the increasingly fierce domestic market competition, more and more brands have turned their attention to the more profitable overseas markets.
As a new model of digital foreign trade, cross-border e-commerce facilitates more and more brands going global. In this process, private enterprises are leading the trend of Chinese brands going global, according to the "2024 China Brand Global Communication Survey Report" released by the China Economic Information Service (CEIS).
People walk past an installation of 2024 China Brand Day events in Shanghai, east China, May 10, 2024. The launching ceremony of 2024 China Brand Day was held here on Friday. An exposition on brand development as part of the ongoing 2024 China Brand Day events is ongoing. (Xinhua/Fang Zhe)
Private enterprises have accumulated foundation of capital, technology, and talent, and have the ability to expand the business in the international market, said Sun Wenkai, deputy dean of the National Institute of Small and Medium Sized Enterprises of Renmin University of China.
In 2018, GEM joined hands with other global enterprises to establish overseas company in Indonesia, combining its own technical advantages and local resource advantages to carry out the production of battery raw materials from laterite nickel ore. In 2023, the first phase of the project shipped 27,050 tonnes of metal, further consolidating the company's core competitiveness globally.
Zhu Wei, vice president of Wondershare Technology, introduced that the company has been actively deploying overseas market since its establishment, relying on independent intellectual property rights to expand, with business covering more than 200 countries and regions, and the proportion of overseas market revenue exceeding 90 percent.
Focusing on new infrastructure, cloud network computing and other services, China Bester Group Telecom Co., LTD. established an international company in 2019 and has now set up six overseas branches. The group's head said that going overseas helps the enterprise to increase revenue, learn advanced technology, and lower the risk.
The cross-border e-commerce export volume of Wuxi Zhongxing Electric Vehicle Co., Ltd. amounted to nearly 18 million yuan in the first five months of this year, said the company's head.
Data released by the Ministry of Commerce (MOC) at the end of January this year show that according to preliminary statistics, there are currently 645,000 enterprises nationwide with actual foreign trade import and export performance, including more than 100,000 cross-border e-commerce entities.
-- Preferential measures securing brand's promising future
According to the "2024 China Brand Global Communication Survey Report" released by the CEIS, in addition to the driving force of the market, local authorities across the country have also taken series of measures to provide a good environment for brands going global.
In recent years, through the establishment and improvement of bilateral and multilateral mechanisms, as well as policy support in line with WTO rules, the overseas expansion of Chinese brands is expected to usher in a golden era.
In May this year, a total of 568,300 copies of various certificates such as certificates of origin and Admission Temporaire/Temporary Admission (ATA) Carnets were issued, marking a year-on-year increase of 13.64 percent, statistics from CCPIT showed.
A total of 18,677 certificates of origin involving 523 million U.S. dollars (about 3.8 billion yuan) were issued under the Regional Comprehensive Economic Partnership (RCEP) free trade agreement by CCPIT. The number of certificates of origin marks a year-on-year growth rate of 24.43 percent.
Thanks to the RCEP, more and more foreign trade companies have enjoyed the benefits of tariff reductions, simplified customs clearance, and trade and investment facilitation, said Zhao Ping.
People attend the 2024 World Brand Moganshan Conference in Deqing County, east China's Zhejiang Province, May 11, 2024. Under the theme "Brands Bring Better Future for the World", the 2024 World Brand Moganshan Conference kicked off here on Saturday. (Xinhua/Jiang Han)
Local authorities have also formulated many concrete measures to support domestic brands.
South China's Guangdong Province has supported the development of cross-border e-commerce by optimizing tax policies, improving logistics systems, and strengthening talent training. It has not only attracted many domestic and foreign cross-border e-commerce companies to invest and start businesses but also given birth to many industry leaders such as SHEIN, Temu and Anker.
Southwest China's Sichuan Province has introduced 10 measures to support the growth and development of private foreign trade enterprises, providing help in financing and reducing logistics and storage costs.
Central China's Hubei Province has built a platform for large-, medium- and small-sized enterprises to go overseas in groups and actively promote excellent private construction enterprises in domestic and foreign engineering meetings and activities.
(Edited by Tian Shenyoujia with Xinhua Silk Road, tianshenyoga0524@163.com)
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