(Yicai) June 28 -- Hisense Group, a Chinese maker of television sets, white goods, and phones, has unwavering confidence in globalization and will adhere to independent brand building, Chairman Jia Shaoqian said at the 2024 Summer Davos meeting.

In its overseas strategy, Hisense holds on to global localization, as the firm currently has 18 industrial parks, as well as 16 research and development institutions abroad, Jia said at the 15th World Economic Forum Annual Meeting of the New Champions held in Dalian recently.

The Qingdao-based company initiated its internationalization strategy in 2004 and has gradually shifted from exports to independent brand building, Jia said, adding that the share of Hisense’s brands going overseas rose to 85 percent as of last year from less than 10 percent at the beginning.

The quality and consistency of Chinese products are no worse than those of other countries, but to go global, Chinese enterprises must build a brand in the mainstream markets of Europe, America, and Japan, the chairman said. Chinese firms and brands are expected to stand side by side with the world’s renowned century-old enterprises and be loved by consumers around the world, Jia predicted.

Sports marketing has been one of Hisense's key channels for brand building since 2008. This month, the firm sponsors the European Cup for the third time. When Hisense joined the sponsors of the European soccer tournament for the first time in 2016, its TV set shipments made up less than 5 percent of Europe's total. At present, the share has risen to 14 percent.

Hisense will strive to accelerate digital transformation, stick to environmental, social, and governance concepts, improve advanced manufacturing, and ultimately achieve green and high-quality development, Jia concluded.

Editor: Emmi Laine