One third of top brands in China from overseas

One third of top brands in China from overseas

One third of the top brands in 152 sectors of in the Chinese market are overseas companies, according to the latest report from the China Brand Research Center. Local firms performed well in the service sector, while international brands prevailed in the durable goods sector, reports the English-language China Daily.

China's Ministry of Industry and Information Technology authorized the center to conduct the 2012 China Brand Power Index survey, which polled 13,500 consumers aged 15 to 60 in more than 30 cities around the country about their brand awareness and loyalty. The survey covered more than 6,800 brands in 152 sectors.

The results showed that 68% of brands were local brands, while the remaining 32% were international, mainly from the United States, the United Kingdom and South Korea.

Beijing accounted for 24% of local brands, while Guangdong province and Shanghai held 23% and 15%, respectively.

Local brands won the majority of customers in services, while the international brands reigned in the durable goods market. In the non-durable goods sector, 43% were international brands.

The report said Chinese companies need to enhance their capital and R&D abilities in the durable goods sector, and improve their marketing approach in the perishable goods market.

The international brands particularly showed their competitive edge in the telecoms sector.

The survey found that compared with last year, competition among top brands has become more intense. In 2011, the report said 50% of top brands showed obviously superior competence to second-tier brands, but this year the figure had decreased to 36%.

Most of the top brands on the 2011 report retained their positions, with only 18 new companies appearing in the top tier.

The China Brand Research Center has recommended that local brands should improve their brand management and adopt a macro perspective in their overall planning, according to the China Daily.