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Zhou Haijiang advises that China needs to pay higher attention to support of self-owned brands

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On the afternoon of February 2, Yu Zhengsheng, standing member of the CPC Central Committee Political Bureau and the CPPCC chairman presided over and held the private entrepreneurs’ symposium focusing on “structure adjustment and seeking development” at the United Front Work Department of CPC Central Committee. In terms of the difficulties and pains during the current development of private enterprises, he solicited the opinions and suggestions of private entrepreneurs and guided them to analyze the situation correctly so as to boost their confidence for development. Zhou Haijiang of HOdo Group, Zong Qinghou of Wahaha Group, Ma Huateng of Tencent and other five famous private entrepreneurs in China attended the symposium upon invitation. During the meeting, Zhou Haijiang, in light of the development of HOdo and the current macro-economic situation, gave a wonderful speed by specifying his thoughts and offering suggestions. 

At the symposium, Zhou offered three suggestions. First of all, he pointed out that China needs to pay higher attention to support of self-owned brands. The markets are divided by brands: the international markets are divided by international brands and the domestic markets are divided by both the domestic brands and international brands. If Chinese enterprises ever want to divide the international markets, they must have a large number of self-owned brands.

Secondly, he suggested the State shall intensify efforts in financial and stock reform. China shall not only deepen its reform, but also standardize supervision in order to create necessary conditions for increase independent capital for enterprises. 

Lastly, Zhou suggested that the growth of private banks needs to be accelerated. Accessing the financial field by means of private capital can effectively relieve the financing difficulty for medium, small and micro-sized enterprises. The balanced and sustainable development of social economy among regions can be further promoted through guiding and supporting establishing business by the public and innovation by the general public. Meanwhile, private banks, traditional State-owned banks and joint-stock banks shall bring about stagger competition, which is conducive to giving play to the complementary advantages of banks, boosting the general level of financial service and accelerating inclusive finance.    

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