China aims to build consumer electronics brand powerhouse

HONG KONG, Jan. 13 (Yonhap) -- China is seeking to build its own consumer
electronics brand powerhouse in an aim to boost manufacturers' competitiveness in
the country against global players, government officials said Thursday.
Officials at the Chinese Ministry of Industry and Information Technology said
that the ministry has recently published guidance on establishing China's own
brands in the consumer electronics industry.
The government move was made as China's consumer manufacturers have been in a
fierce competition against foreign manufacturers on their home turf as well as in
export markets.
According to the official guidance, by 2015, the government aims to push more
than 80 percent of the consumer electronics companies to develop and implement
clear corporate brand strategies, while spurring them to invest at least three
percent of their spending in research and development.
The guidance also said the government will support the electronics makers to
export more than 30 percent of their products and to launch three to five
innovative capabilities, which can bring out competitive advantage over global
rivals.
As part of the promotion, the government will encourage cross-regional or
cross-border mergers and acquisitions within the industry, and help more
companies apply and register for overseas trademarks and patents.
Under the procurement policies, the government offices will purchase the
domestically produced products. Consumer subsidies for new electronics purchases
will continue to be offered, the officials added.
ygkim@yna.co.kr