On July 16, the 2008 Brand Competitiveness Report was issued by China Brand Research Institute, showing that the competitiveness of 92 renowned brands in the Chinese market declined last year. Nevertheless, that of Sany Heavy Industry maintained an upward trend.
As China's first dynamic research report on brand competitiveness, the 2008 Brand Competitiveness Report assessed 300 domestic brands and 100 foreign brands in total, with the main assessment indexes covering brand price premium ability (brand favorite, designated purchase), bank credit rating, industry status (market shares), profitability of prime operations, advertising effects, and capital market evaluation (market value and brand value), etc.
According to the assessment, the average competitiveness score of domestic brands is 62, and foreign brands, 87. The report concluded that domestic brands' overall competitiveness lags behind overseas brands in the Chinese market for the present.
Among the 92 brands declining in brand competitiveness are 19 overseas brands like LG and Motorola and 73 domestic brands including Changhong, Geely, Goldpartner, Ping'an Insurance, XCMG and Bank of China. In particular, the decline rate of some brands even exceeded 10%.
The report also revealed that the competitiveness of 208 brands enjoyed an ascending trend.
As a leading enterprise in China's engineering machinery industry, Sany Heavy Industry makes it its mission to 'Change the World with Quality' and dedicates itself to updating and technical upgrading of Chinese engineering machinery. In addition, with its strategy of internationalization, it has been maintaining an annual growth rate of 60%-80% and showing strong competitiveness. Meanwhile, as No. 1 share in China's share reformation and the listed engineering machinery company with the highest market value as well as the first Chinese full-circulation company to initiatively raise the threshold for stake reduction, Sany Heavy Industry is regarded as 'the Wind Vane of Stock Market' and it has won great brand reputation in the market. In 2006, Sany ranked the 49th in the 'Top 100 Chinese & Foreign Brands in Reputation Growth' with a growth rate of 16%, and it was granted as one of the 'Top 100 Most Valuable Chinese Private Enterprises of Faithful Brands'. In June of this year, Sany was selected as the 'Benchmark Brand in China's Engineering Machinery Industry' by China Brand Research Institute. Also, Liang Wengen, Chairman of Sany Heavy Industry, was among the list of 30' Chinese Brand Masters' issued by China Brand Research Institute.
Besides Sany Heavy Industry, other domestic brands including Lenovo, Hainan Airline, Sanlu, Huadi, Haier, Gree, Midea, Gome, Mengniu and Little Sheep also witnessed an upward trend in brand competitiveness according to the 2008 Brand Competitiveness Report issued by China Brand Research Institute.
