Guangdong Radio and Television Station:

In recent years, as China-chic consumption has continued to grow, many time-honored brands have accelerated their transformation and innovation, gaining popularity among young people. We have noted that the guidelines mention promoting the innovative development of time-honored brands while preserving tradition. What measures will MOFCOM take to promote the high-quality development of time-honored brands, especially in their coordinated development with renowned traditional industries? Thank you.

Zhang Xiang:

Thank you for your interest in and support for the development of time-honored brands. Time-honored brands are "treasured hallmarks" nurtured in the course of China's industrial and commercial development, carrying profound heritage of China's fine traditional culture. MOFCOM has successively recognized three batches of 1,450 China's time-honored brands, of which more than 40% are distributed in renowned traditional industries such as silk and tea, TCM, and arts and crafts. Next, we will focus on four aspects to promote the coordinated, interconnected and high-quality development of time-honored brands and renowned traditional industries.

First, we will focus on improving support policies. We will continue to guide local governments to implement policies and measures such as the "Guidelines on Promoting the Innovative Development of Time-Honored Brands," and introduce additional measures focused on protection, inheritance, innovation and development. We will promote closer coordination and interaction between time-honored brands and cultural heritage, historical districts and museums, develop more products and services that embody traditional culture, are rich in fashionable elements and meet contemporary needs, and create more consumption scenarios that are popular with the people. We will accelerate high-quality development through product updates, technological innovation and business model innovation.

Second, we will give full play to their exemplary role. Time-honored brands have long enjoyed great popularity among consumers and wide recognition in the market. Especially in the new era, they have ushered in brand-new development opportunities. We will actively improve the evaluation indicators for the creation of exemplary time-honored brands, continuously optimize threshold indicators such as business performance, historical inheritance and brand reputation, and give greater emphasis to leading indicators such as product quality, technological innovation and cultural value, so as to give full play to the exemplary role of China's time-honored brands and support the high-quality development of renowned traditional industries.

Third, we will improve the dynamic evaluation system. China's time-honored brands have been able to thrive over the years due to their unwavering commitment to a business philosophy that is centered on honest business practices, quality and bold innovation. We will actively support eligible brands in renowned traditional industries to apply for the title of China Time-Honored Brand. At the same time, we will conduct assessments of previously recognized time-honored brands and take relevant management measures for those that are poorly managed or underperforming. Through a dynamic management mechanism that eliminates long-underperforming brands while also planning to incorporate new ones, we will ensure the quality of these treasured hallmarks.

Finally, we will establish a monitoring and early warning mechanism. We will establish and improve a monitoring and management mechanism for the innovative development of time-honored brands. Under this mechanism, we will strengthen the tracking of their business performance, work with relevant departments to continuously strengthen the connectivity and sharing of information such as enterprise registration, administrative penalties and social credit, and rely on the strength of professional institutions to enhance the analysis of their business performance and the prediction of development trends. This will provide strong support for the sustainable and healthy development of time-honored brands. That's all from me. Thank you.