China’s economy maintained its fast-paced growth in 2010, overcoming Japan as the second largest economy in the world and continuing a meteoric rise that has seized the world’s attention. Despite undeniable progress, many questions remain when it comes to building businesses and brands in China. How can foreign companies and products gain the affinity of Chinese customers? What will happen to those foreign brands that are (inevitably) acquired with Chinese capital? Why haven’t more Chinese brands “gone global?”

As basketball’s popularity is rapidly growing in China, sports brands are also trying their utmost to draw fans’ attention and gain a competitive edge in the market.

China’s growing affluent consumer segment has been attracting worldwide luxury brands for a long time. Gucci, LV, Zegna, and many other top brands tapped into the Chinese market in the early nineties, long before it started generating revenues. And quite rightly so, as it seems clear that the Chinese luxury consumer market, which did not even exist a mere 20 years ago, is on the path to dominate top end retail. But what about domestic luxury brands?

Sichuan-based WOWO, a well-established chain of convenience store - reportedly received $10 million from ARC Investment Partners, one of best-known US investment companies.

WOWO has been very successful since its establishment in Chengdu in 2005, and it has grown to have 189 branch stores in Chengdu only and it’s planning on opening more outlets in Chongqing and other province-level cities, leaving the number surpass 500 in the following two years.

Labbrand has previously reported about the investments the Chinese government is allocating for the development of national car brands.

Only two weeks ago, China’s Science and Technology Minister Wan Gang has announced that R&D to create Chinese alternative-energy automobiles had been boosted.

Chinese brands “fever” to expand internationally seems to have not spared the banking sector. China Merchant Bank has opened a branch at 535 Madison Avenue, New York – the first branch opened by a Chinese bank in USA since the adoption of the Foreign Bank Supervision Enhancement Act of 1991.