Enterprises turn tradition into holiday cheer

Amid the bustling pre-holiday crowd at a Beijing Daoxiangcun store, Wang Xinyue held up an exquisitely designed gift box, her eyes drawn not just to the pastries inside, but to a small, gleaming object attached to the packaging.

"It's not just that the products are novel; this fridge magnet design captures the very soul of the Chinese New Year," said Wang, who was carefully selecting gifts for the Spring Festival.

The object of her affection was part of the newly launched "New Year's Beijing Eight Treasures" (he sui jing ba jian) gift set. The box itself is a visual feast, featuring dancing lions and festive lanterns that echo the intricate paper-cuttings of traditional window decorations. Inside, eight individually wrapped pastries bear motifs of distinct holiday wishes, representing a deep fusion of "dual intangible cultural heritages" — the folk customs of Spring Festival and the traditional craftsmanship of Beijing-style pastry making.

But the highlight remains the "Good Fortune with Food" fridge magnet included in the set. As Wang noted: "When the pastries are eaten, this little metal plaque remains. It extends the warmth of the festival from the tip of the tongue to daily life, keeping the festive spirit alive in the kitchen long after the holiday ends."

Wang is one of millions of Chinese consumers turning their attention to China's time-honored brands (laozihao) in the Year of the Horse. Her experience reflects a broader narrative: these venerable enterprises, once seen as keepers of dusty traditions, are orchestrating a vibrant comeback. By blending heritage with China chic (guochao) and digital innovation, they are proving that old masters can indeed learn — and teach — new tricks.

This resurgence is not merely a cultural phenomenon, but a significant economic driver backed by robust data. According to statistics released in November, China's 1,450 recognized Time-Honored Brands are thriving.

With an average history spanning 145 years — and over 60 percent being centenarians — these enterprises cover 32 industries across seven major economic sectors. They hold over 1,200 items of intangible cultural heritage, serving as custodians of the nation's commercial history.

The numbers speak to their renewed vitality: in 2024, these heritage brands generated total operating revenue exceeding 2 trillion yuan ($288 billion), with profits surpassing 350 billion yuan. Their global footprint is also expanding, with overseas revenue topping 50 billion yuan, showcasing their growing market value and brand resilience.

He Yongqian, a spokesperson for the Ministry of Commerce, emphasized that these brands are playing a crucial role in promoting consumption, upgrading industries and bolstering cultural confidence. The government is actively fostering a long-term mechanism for the protection and innovation of these brands, aiming to cultivate a batch of "Golden Namecards" — brands with international recognition that can connect the global market while satisfying the diverse, high-quality demands of domestic consumers.

However, experts argue that while government support and nostalgia open the door, only genuine value keeps the customer inside. Qu Xiaodong, an associate researcher at the Institute of Economics, Shaanxi Academy of Social Sciences, pointed out that in an era of fierce competition and consumption upgrades, relying solely on the "culture card" or "nostalgia card" is insufficient.

"The fundamental satisfaction of consumer needs lies in a product's use value," Qu said. "Innovation is critical. Old brands must align with the personalized, diverse demands of younger groups, blending cultural value with fashion while improving craftsmanship."

This sentiment is echoed by Liu Tao, deputy director of the Institute of Market Economy at the Development Research Center of the State Council. Liu noted that the deepening digital economy has enriched the connotation of "guochao". By accelerating changes in management philosophy and innovating business models, brands in food, apparel, and daily necessities are becoming important engines for consumption innovation.