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Chinese companies' going global is entering a new stage where brands are gradually acknowledged globally to be of high quality and with innovative designs, a key step for the country to move up the global value chain, said experts.

Chinese employees pose at the stand of Cainiao Network, the logistics arm of Chinese e-commerce giant Alibaba Group, during the 2018 Global Smart Logistics Summit (GSLS) in Hangzhou city, East China's Zhejiang province, on May 31, 2018. [Photo/IC]

Chinese Vice Minister of Commerce Wang Shouwen told the meeting that under the current situation, APEC members should uphold the authority and efficacy of the World Trade Organization, and send a positive signal for the organization' Eleventh Ministerial Conference scheduled for the end of this year.

Chinese companies conduct their business activities mainly in the trade sector, wholesale and retail, but there are also companies that operate in the mining sector, telecommunication, he said.

Chinese home appliance manufacturers are gearing up to recycle waste household appliances into reusable products, as part of broader push to promote the development of circular economy.