Press Release: Chinese City Branding Survey of UK Business Shows Shenzhen Pulling Ahead Of Other Chinese Cities
Study by Cross-border B2B branding agency Oval Branding Shows Shenzhen Brand Achieving Wide International Recognition While Other Developing Areas Struggle To Cut Through
London, 14 Jan 2019 Oval Branding today announces the results of its first Chinese city branding report, which shows a significant disparity between the newer Chinese cities vying for international recognition and investment. Among UK based businesses which are already working with China, or have plans to in the next 12 month, the research found that Shenzhen has the highest level of brand recognition at 93%, while Wuxi scored only 50%.
Download the Full Report Here: https://ovalbranding.com/city-branding/
The most significant factors which influence investment decisions were found to be the cost of doing business and the buying power of potential customers. These two factors were equally rated highest at 69%, reflecting the desire of UK and other Western companies to do business as cheaply as possible and to maximise the return on their investment in China.
The survey was carried out with 30 senior UK business leaders to discover their awareness of 8 of China’s fastest growing cities and 5 designated development areas. 75% of All respondents had visited China at least one and 43% had visited China over 10 times. In addition to an online survey, 5 respondents were interviewed to gain deeper insight.
The full list of results, in order of highest recognition, is as follows:
Shenzhen 93%
Chengdu 77%
Hangzhou 73%
Xiamen 70%
Nanjing 63%
Xi’an 63%
Dongguan 53%
Wuxi 50%
China’s national brand value is quickly on the rise, ranking second globally in 2019 with a brand value of $20 trillion behind America’s national brand at $27.8 trillion, according to Brand Finance 2019. Under the macro environment of favourable government initiatives and the nation’s substantial economic power, Chinese cities and new development areas are also looking to promote their international brand awareness and reputation around the world. The success of Shenzhen is in large part due to its status as a Special Economic Zone, directly managed by the Chinese central government.
Russ Shaw, founder of the Tech London Advocates and Global Tech Advocates said: “Key stakeholders from Chinese cities and new developments need to be engaging with the UK’s collective of ambitious entrepreneurs, investors, thought leaders and accelerators to galvanise a positive message for the growth potential of China and the core destinations to land in. It is essential that the innovation districts and technological hubs that are found across China are presented in a way that is attractive to overseas tech leaders and that the growth potential is broadcast far and wide.
”Kaitlin Zhang, CEO at Oval Branding, commented: “The profile of China as a destination for international investment and collaboration has increased substantially over the past few years. UK businesses are increasingly aware of its huge market. But that investment is not distributed evenly and there is a high level of competition between different Chinese cities and regions. The efforts they make in the early 2020s to establish their own international reputation and credentials are likely to pay dividends for years to come.”
ENDS
Media contact: Matt Fincha
E: matt@ovalbranding.com
M: +44(0)7812166989
Notes to editors:
About Oval BrandingOval Branding is a London-based branding agency with a specialisation in cross-border branding between China and the West in financial services, technology and government. The company offers English and Chinese services in corporate branding, personal branding, reputation management and public relations for clients in the UK, China, USA and around the world. The core team in London manages a team of more than 20 remote experts, with extensive experience in venture capital, private equity and tech. The mission of Oval Branding is to bring together the best talent around the world to build open, valuable, adaptable and loved brands.
