Global brands have long competed to lure Chinese customers but now Chinese brands are on the verge of returning the favor.
Mainland Chinese companies are stepping up efforts to build their brands by seeking trademark protection overseas, according to a Thomson Reuters CompuMark study released Monday.
Chinese firms filed 35,637 trademark applications in jurisdictions around the world by the end of last year, with applications rising 84 percent over the last five years, according to the research.
The study, Chinese Brands Go Global: Best Practices for Global Brand Expansion from China, tracks the trademark activity among Chinese and other international brands over the last quarter of a century. It also looked at the effectiveness of the brand protection and global expansion strategies of some of the nation’s top names, including Alibaba Group and Tencent.
China has already risen to seventh place in terms of international trademark activity, behind the United States, Japan, Germany, Hong Kong, Britain and France.
“By analyzing the broadest and most comprehensive collection of trademark data, we identified a tipping point in the growth of Chinese multinational brands, one that poses enormous potential for business growth over the next several years,” Linda Guo, managing director for Thomson Reuters China IP and science, said.
“It’s no surprise that 73 of the Fortune Global 500, featuring the world’s largest companies, are from China.”
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