Ningbo (People’s Daily) - The 2019 Zhejiang Provincial Branding Academy International Open Class was held on Wednesday in Ningbo, China’s Zhejiang Province. On the theme of “The Belt and Road Initiative - Opportunities and Challenges for Companies”, it gathered representatives from the academic and business world.

The 2019 Zhejiang Provincial Branding Academy International Open Class was held on Wednesday in Ningbo, China’s Zhejiang Province. (Photos: He Jieqiong/People's Daily)

With the process of globalization among Chinese brands and the implementation of the Belt and Road Initiative, a platform for global economic cooperation and development is being established. That is also an opportunity for regional brands, like “Zhejiang Made” to enhance its international awareness, while facing with both challenges and opportunities. This seminar is aimed at training high quality talent who can help Zhejiang companies which plan to do business abroad.

Prof. Martin Lockett, Dean of the Nottingham University Business School (NUBS), China.

Prof. Martin Lockett, Dean of the Nottingham University Business School (NUBS), China, spoke on the challenges of innovation for Chinese companies. He illustrated the three phases of innovation in China, from “copying” to “fit for purpose” to “world standard”, emphasized the importance of combining manufacturing with service, and suggested companies invest more in design and pay more attention to company culture and leadership.

There were further discussions about challenges to Chinese firms’ globalization, and suggestions were made on how Chinese companies can address these challenges under the Belt and Road initiative.

Prof. Martin Liu, Executive Dean of Zhejiang Provincial Branding Academy, Associate Dean of Research and Knowledge Exchange, NUBS China.

“Under the Belt and Road Initiative, the products that come out of China would be of good quality, but at a reasonable price.” Prof. Martin Liu, Executive Dean of Zhejiang Provincial Branding Academy, Associate Dean of Research and Knowledge Exchange, NUBS China, said in his closing remarks.

The seminar was organized by Zhejiang Provincial Administration for Market Regulation, NUBS China and Zhejiang Provincial Branding Academy. It was broadcast live online via the Weibo account of University of Nottingham Ningbo, China to benefit more people.