In the next three years China's Ministry of Commerce said Wednesday it would revitalize 1,000 "old Chinese brands" from the existing 5,000.
A ministry statement said the majority of "old Chinese brands" once seen as the pride of domestic commerce had lost much of their competitiveness in the market partly due to a sharp decrease in the number of business outlets and a general lack of fresh talent and innovation.
The ministry will inject fresh capital and give necessary policy support to the brands so as to "bring new life to them and achieve effective protection and development," it said.
Efforts to publicize these famous brands will be stepped up and measures to support their technical upgrading put in place, the ministry statement said.
(Xinhua News Agency April 27, 2006)
