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Brands to Play Leading Role in Promoting Supply-Demand Structure Upgrading

The General Office of the State Council issued on 20 June the Opinions on Giving Product Brands the Leading Role to Push Forward the Upgrading of the Supply and Demand Structure, which proposed important measures including advancing the supply-side structural reform.

The Opinions pointed out: China's brand development is trailing a long way behind its economic development. Poor product quality, weak innovation capability and enterprises showing little or no sense of integrity are some of the more prominent problems. In giving product brands the leading role to push forward the upgrading of the supply and demand structure, it is necessary to focus on the present while looking into the future and make persistent efforts to overcome all difficulties. To start with, the government should play a more positive role. Steps should be taken to accelerate the transformation of government functions and optimise the regulatory environment. Second, enterprises should play their role in making their brand bigger and stronger and increase their comprehensive competitive strength. Third, steps should be taken to create a good social ambience, actively support the development of proprietary brands, expand the consumption of goods of proprietary brands, and make available professional and effective services for brand building and industrial upgrading.

Focusing on the main tasks, the Opinions proposed three major projects on the principle that these must be workable and can be implemented and translated into reality. First, brand infrastructure building. Bearing in mind the brand influence factor, steps should be taken to lay a solid foundation for brand development and create conditions for brands playing a leading role by promoting higher quality standards, improving inspection and testing capabilities, building a platform for sustainable innovation and enhancing the soft power of brand building.  

Second, supply structure upgrading. With increasing varieties, improving quality and creating new brands as the main tasks, steps should be taken to promote the upgrading of the supply structure in the primary, secondary and tertiary industries through measures such as enhancing the varieties of goods and services, increasing the supply of quality agricultural products, launching a number of premium manufactured goods and improving the quality of consumer services.

Third, demand structure upgrading. Giving full scope to brand influence, steps should be taken to expand the consumption of goods of proprietary brands and adapt to and lead the upgrading of the consumption structure through efforts to boost consumer confidence, publicise and demonstrate proprietary brands, and promote the upgrading of consumption in the rural areas and the sustained expansion of consumption in the urban areas.

For details of the Opinions in Chinese, please see:

http://www.gov.cn/zhengce/content/2016-06/20/content_5083778.htm

Content provided by Picture: HKTDC Research
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