China has released new rules to promote the innovative development of the country's time-honored brands and boost the country's consumption, according to the Ministry of Commerce and four other government departments.
Time-honored brands, known as lao zi hao in Chinese, are coveted titles given by the government to brands with a long history.
According to the newly revised rules, a "China Time-Honored Brand" should meet the following requirements:
-The brand has been established for at least 50 years;
-it possesses the characteristics of Chinese people and their distinct regional cultures;
-it provides products, skills, or services of high economic and cultural value to people's lives;
-and the brand is representative, leading and exemplary in its industry.
Detailed regulations on the use of China's time-honored brand logos and plaques were also made public on Wednesday.
Every three years, the Ministry of Commerce and other relevant departments will identify and announce a new batch of time-honored brands.