Centering around the theme of "Brands Bring Better Future for the World", the Global Forum for Brand Equity Strategists of the 5th China International Import Expo was held in Shanghai on November 7, 2022, where the plan for building the "Lujiazui Financial City 10-Billion Brand Park" was officially released. With an annual revenue target of 10 billion yuan, Lujiazui aims to provide a window to bring Chinese brands to the world and for global brands to enter the Chinese market, while creating a bond that unites them.
In response to the Opinions of the CPC Central Committee and the State Council on Supporting the Pudong New Area in Building Itself into a Leading Area in Socialist Modernization through High-standard Reform and Opening-up, Lujiazui Financial City is pooling superior resources in terms of brand equity, general policies, professional services and other aspects and working together with industry forces to build a "10-Billion-Yuan Brand Park", a stronghold for brands that will give Lujiazui a new brand identity by cultivating a group of influential Chinese and global brands, Liang Qing, Deputy Director of Lujiazui Administration Bureau of Shanghai Free Trade Zone, said at the forum hosted by the Office of National Brands Project of Xinhua News Agency and the News & Information Center of Xinhua News Agency in collaboration with the Shanghai Lujiazui Financial City Authority.
According to reports, the Lujiazui Financial City 10-Billion Brand Park will explore the following methods. Equal stress will be laid on the old and the new by encouraging those that have achieved 10-billion-yuan revenue to help others catch up, so that companies can learn from the strategies of others and connect their markets. Meanwhile, a gradient development strategy will be implemented with tailor-made programs for different companies. Finally, Lujiazui will pool resources to build a diversified platform by combining efficient markets and positive government, enabling companies to elevate their brands.
A "1+1+7+X" model will be launched to build the park. The first "1" means to build Lujiazui into a dominant ecosystem for brands, and the second "1" is to create a special task force. The "7" refers to a comprehensive enabling system across seven aspects: strategy, finance, policy, publicity, talent, space and innovation. The "X" denotes the number of companies that will be served by the 10-Billion Brand Park open platform.
"The Chinese economy is incredibly resilient, offering huge opportunities for forging large-scale brands. As a major hub for brand-building talents, the bellwether of large-scale brands and a place where the Eastern and Western mindsets meet, Shanghai is inherently well-positioned to bring together the best of both worlds. By integrating the Western quantitative approach with the Chinese art of 'aptness', the city will enjoy a better chance to enhance its product power and brand power. With a push from top-level government departments and a combined effort from all sectors of society, the 10-Billion Brand Park will be a huge driving force behind the emergence of more large-scale brands, ushering in a 10-billion era for countless Chinese brands," said Xie Weishan, Chief Strategic Consultant of the Lujiazui Financial City 10-Billion-Yuan Brand Park and President of Kmind Strategy Consulting.
Liang welcomed market organizations and businesses from around the globe to take an active part in creating the Lujiazui Financial City 10-Billion-Yuan Brand Park and work together to build Pudong into an international consumer hub.
