BAKU — Chinese brands have evolved from being known mainly for affordability to becoming synonymous with technological innovation, creating unique value for global markets, an Azerbaijani economist has said.

Vugar Bayramov, an economist and member of the National Assembly of Azerbaijan, made the remarks in an interview with Xinhua News Agency ahead of the 2026 World Brand Moganshan Summit, which opened on May 10 in Deqing, East China's Zhejiang province.

Bayramov reflected on the transformation of Chinese brands from budget-friendly alternatives into globally competitive companies, as well as their growing presence in Azerbaijan and beyond.

"Now, one of the first keywords for Chinese brands is technological innovation," Bayramov said, noting that is why Azerbaijan imports a significant share of high-tech products from China.

Azerbaijan imported more than 62,000 hybrid vehicles from China in 2025, accounting for roughly 85 percent of total hybrid car imports, he said.

In his eyes, the strength of Chinese brands lies in their ability to introduce new technologies and products to international markets, which creates new opportunities for consumers, particularly in electronics and other advanced sectors.

"The most significant aspect of brand building is the introduction of innovation and technological novelty into production," he said.

Chinese companies make a substantial contribution to sustainable development and international cooperation, he said, citing a number of Chinese brands, particularly in the services sector, which facilitate cultural exchange, thereby playing a key role in strengthening sustainability and inclusiveness in global economic growth.

Addressing the relationship between competition and cooperation, the economist said the two are not mutually exclusive.

Depicting competition as "an important condition for sustainable development", he said that Chinese companies also actively cooperate with foreign partners, notably in Azerbaijan's green energy sector.

On Azerbaijan's role within the Belt and Road Initiative, Bayramov noted that China is currently the country's largest source of imports, with cooperation expanding in green energy, among other sectors.

"This not only contributes to the development of Azerbaijan, but also serves to further deepen the relations between our two countries," he said.

Looking ahead, Bayramov expressed confidence that the share of Chinese brands in the global economy will continue to grow across many high-tech areas, particularly the electric vehicle sector.

Under the theme "Brands Bring Better Future for the World," the 2026 World Brand Moganshan Summit aims to drive the high-quality development of Chinese brands and promote mutual learning and exchange among global brands.

Xinhua - China Daily