Beijing to rescue time-honored brands

Beijing (CNS) – The Xicheng District government will set up a special fund to protect and develop time-honored Chinese brands, with a yearly investment of 20 million yuan, according to an announcement from the local government.

Xicheng District is home to half of the historically famous brands in Beijing, said Yang Ping, an official who works for the project. The average age of these brands is 144, while the most senior is Qingmi Gallery, which is 649 years old and located on an antiques street in Liulichang, she added.

At present, only 20 percent of the time-honored brands are in good operation. 60 to 70 percent are developing at an average level, and the remaining 10 to 20 percent are struggling.

Yang cited the snack store Baodu Chen as an example. Baodu Chen, which serves traditional Beijing dishes of cooked tripe, earns low profits but has to pay soaring rents. But if it raises its prices, common customers will abandon it.

Yang said the government will launch a series of policies to promote the sound development of the brands, including more favorable rents.

We will encourage the brands to recover by attracting investors, applying for trademark and patent protection, and holding traditional exhibitions, said Li Yunwei, another official at the district.