Almost half of business executives struggle to identify leading Chinese brands, according to a survey of more than 1,000 business executives by London Business School’s China Business Forum. The survey found that 45% were unable to correctly identify what Hisense, a leading consumer electronics brand, produces.
Nirmalya Kumar, visiting Professor of Marketing and author of Brand Breakout: How Emerging Market Brands Will Go Global, said: “While western consumers are surrounded by products made in China, Chinese brands are invisible. China hopes Haler and Lenovo are leading the transformation to global brands from China just as Toyota and Sony did for Japan or Samsung and Hyundai did for South Korea.”
Respondents who came from North America, Latin America, Europe, Africa, Asia, and the Middle East were also asked what the greatest barrier to business growth in China in their view. More than a third (37%) said that inconsistent enforcement of commercial law and regulations was the biggest barrier; 20% said tighter control of multinational companies was the biggest problem.
Overall, however, the outlook is optimistic. 78% of executives believe conditions for business in China are better than they were five years ago.
These and other issues will be debated at the China Business Forum’s annual conference, which takes place on 18 October at London Business School. The forum takes place two weeks before the second joint European business schools’ Asia Careers Fair, which will also be held at London Business School on 1 November. Click here to learn more about the survey and forums.