Shanghai hosts Time-honored Brand Carnival

As part of the Shanghai Double Five Shopping Festival, the 2023 Shanghai Time-honored Brand Carnival was launched at the city's Yu Garden on Tuesday.

The month-long event, aimed to stimulate consumption, was hosted by the Shanghai Chinese Time-Honored Enterprise Association and the Shanghai Yu Garden Tourism Mall Group, with guidance from the Shanghai Municipal Commission of Commerce.

A total of 104 local brands, covering various sectors and industries, were recognized as time-honored brands at the launch ceremony. Among the newly crowned time-honored brands are Guangmingcun Restaurants, pen and ink producer Hero, Sanyang Grocery Store and Chengyuxin Tea.

Several business districts in Shanghai's city center, including Nanjing Road, Yu Garden, Huaihai Road and West Shaanxi Road, will host markets featuring time-honored brands during the carnival period, according to the event organizers.

A total of 284 time-honored brands are set to roll out over 100 new products and 15 themed promotions, they said.

The ceremony also saw financial services entities and online platforms pledging their support of the development of time-honored brands in the digital era.

For instance, the Bank of Communications said it has launched comprehensive financial solutions to help such brands further expand their business. Social media platform Douyin also announced that it will provide brands with support related to data and livestreaming. Meanwhile, NetEase Media Group said that it will help promote these brands to younger audiences through their games, music, and other kinds of content.

Shanghai first launched the Double Five Shopping Festival in May 2020 to boost consumption while combating COVID-19. The festival, which usually takes place from late April to the end of June and encompasses various promotions, has since become an annual event and a key platform for developing the metropolis into an international consumption hub.