Ethics, IPR: Jinjiang's recipe for growth (4)

Workers at Anta Sports in Jinjiang, Fujian province, on Feb 24, 2018. [Photo/Xinhua]

Innovation and self-developed technology have played a crucial part in elevating local companies into global players that attract international talent.

Ding Shizhong, CEO and chairman of Anta Sports, said, "To gain a foothold in global markets, Chinese brands should shift focus to product quality and brand value, rather than merely relying on low prices."

Anta has become a global sportswear player with multiple brands. The company had net profit of 3 billion yuan based on revenue of 16.7 billion yuan last year, Ding said.

Spending on research and development, representing 5.7 percent of Anta's overall revenue, has been a key factor in its fast growth. The company has registered more than 600 patents. Anta has set up innovation and design studios and centers in the United States, Japan, South Korea and Hong Kong. With operations and stores in Southeast Asian markets and Russia, Anta has plans to raise its overseas sales to 20 percent of its total sales by 2025. At present, about 25 percent of its executives are foreigners.