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Coastal city boosted by worldwide renowned brands

( chinadaily.com.cn )

Updated: 2016-09-07

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Qingdao, a leading economic hub on the coastline of East China, is home to a number of globally-recognized brands such as Haier Group, Hisense Group and Tsingtao Brewery.

Over the past three decades, these home-grown brands have gained recognition in the global market amidst the city's economic boom.

The development of these companies, from local firms to international brands, was showcased to the media on a recent tour, which kicked off on Sept 5.

The media tour was organized by the information office of Qingdao municipal government, and Sina Weibo, China's leading micro blog, in a bid to display the coastal city's beautiful scenery and rapid economic growth.

Haier Group has grown into one of the world's biggest home appliance suppliers. The company recently ranked fifth on a list of China's most valuable brands, whilst ranking first among domestic appliance brands. The list was released at the 2016 World Brand Summit held in Beijing on June 22.

Haier's brand value was estimated at around 222 billion yuan ($33.3 billion), pushing its ranking up three places from last year. The company has made extensive efforts to build its brand for the internet age, and was rewarded last year with global turnover approaching 189 billion yuan, with profits of 18 billion yuan.

Hisense is another household name in China that has been increasing its presence in the global market.

A white goods and electronics producer, Hisense now operates in South Africa, Algeria, Egypt, the United States, Europe, Australia, the Middle East and Southeast Asia; and its products are exported to more than 130 countries and regions.

The company is also a sponsor of the ongoing UEFA European Championship, joining the ranks of such global giants as Adidas and Nike.

Tsingtao Brewery, which produces the famous local beer, was founded by German and British settlers in August 1903.

In 2015, Tsingtao Brewery sold 8.48 million kiloliters of beer, with revenues of 27.64 billion yuan. It had net profits of 1.71 billion yuan in 2014. With a brand value estimated at about 11.69 billion yuan, it leads China's beer industry, according to the World Brand Lab, a leading independent consultancy of brand valuations.

Tsingtao Brewery's subsidiary brands include Laoshan, Hans, and Qingdao Beer Museum, and are also highly rated according the lab's evaluations.

Tsingtao Brewery exports to more than 90 countries and regions, and is now ranked sixth globally in its sector in terms of production, according to the Barth Report, an authoritative beer industry guide.

Coastal city boosted by worldwide renowned brands

A staff member at Haier Group headquarters. [Photo provided to chinadaily.com.cn]

Coastal city boosted by worldwide renowned brands

One of the staff members from Hisense Group introduces a new model of television to the media on Sept 6. [Photo provided to chinadaily.com.cn]

Coastal city boosted by worldwide renowned brands

The media group tastes the flavor of high-quality beers, at the Tsingtao Beer Museum on Sept 6. [Photo provided to chinadaily.com.cn]