May 10 marks the first-ever Chinese Brands Day, a festival introduced this year by the country's National Development and Reform Commission to promote Chinese brands and products. With more and more Chinese companies going global, the government expects such events can help alter perceptions about "Made in China". 

As some retailers across the country mark the day by offering considerable discounts, Professor Yang Wandong, an expert on the brand economy at Renmin University, said that “the purpose of introducing the festival is to raise society's awareness about branding, and start nurturing brands that have the potential to becoming internationally known."

According to a report released by marketing giant WPP last year, 2016’s most valuable Chinese brands included Tencent, China Mobile and Alibaba. However, Yang said their successes could be mostly attributed to a large captive market, and that Chinese brands as a whole still face many challenges as they seek recognition and respect from abroad.

“A lot of Chinese products are simply replicating what their international competitors have done. There might be a certain degree of independent development, but innovation is still largely lacking. It also takes decades for a brand to prove itself, and to prove the consistency of its products. Very few Chinese products have a reputation overseas for high quality,” said Yang. 

As economists believe the most crucial variable in the formation of a success brand is time, Yang estimates it will take decades before Chinese brands break through the glass ceiling and become globally recognized and respected.