The GUPON products in 1908 versus in 2021. [Photo provided to chinadaily.com.cn]

Shanghai Huayi (Group) Company launched several new products by its \r\nself-owned brands, including cosmetic brand GUPON and cleaning brand \r\nShanghai Yaozao, during a summit forum held in Shanghai on May 11.

Besides launching the new products, which includes laundry capsules, \r\ndetergent, facial masks, and hair care products, Huayi Group also signed\r\n strategic cooperation agreements with time-honored art education brands\r\n such as Shanghai Littlestar Group and Alibaba's online marketing \r\ntechnology platform Alimama to further promote time-honored domestic \r\nbrands.

Organized by Shanghai Huayi (Group Company) and Shanghai Soap Corp, \r\nthe forum also invited industry experts and related enterprises to \r\ndiscuss the future development of innovation and upgrading of domestic \r\nproducts.

"Huayi Group will persist in promoting and empowering the \r\ntime-honored brand and contribute to the building of Shanghai as an \r\ninternational fashion and brand capital," said Liu Xunfeng, president of\r\n Huayi Group.

The new products of Shanghai Yaozao that released in Shanghai on May 11. [Photo provided to chinadaily.com.cn]

According to the 14th Five-Year-Plan (2021-25), China should take \r\naction to create domestic brands, protect the development of \r\ntime-honored Chinese brands, enhance the influence and competitiveness \r\nof domestic brands, and take the lead in cultivating several high-end \r\nconsumer goods brands.

Statistics by Tmall show that Shanghai's time-honored brands have the fastest growth and the most innovative vitality in China.

There were 52 time-honored brands on e-commerce platform Tmall with \r\nannual sales exceeding 100 million yuan ($15.6 million) in 2019. A third\r\n of these brands come from Shanghai.

As the leading enterprise in the industry, Huayi Group owns \r\ntime-honored brands including renowned footwear brand Warrior and Bee \r\n& Flower.

The new products of GUPON that released in Shanghai on May 11. [Photo provided to chinadaily.com.cn]