Shanghai Huayi (Group) Company launched several new products by its self-owned brands, including cosmetic brand GUPON and cleaning brand Shanghai Yaozao, during a summit forum held in Shanghai on Tuesday.

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

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

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

According to the 14th Five-Year-Plan (2021-25), China should take action to create domestic brands, protect the development of time-honored Chinese brands, enhance the influence and competitiveness of domestic brands, and take the lead in cultivating several high-end consumer 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 annual sales exceeding 100 million yuan ($15.6 million) in 2019. A third of these brands come from Shanghai.

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