According to statistics, since 1993, the relevant state departments have recognized more than 1,600 "old Chinese brands". On average, these old brands have a history of more than 160 years, and the longest ones are even three to four hundred years old. With their good reputation, unique products and quality services, they have generated a certain degree of influence, popularity and reputation locally and even nationally. The latest survey by the Ministry of Commerce says that among these 1,600 old businesses, 320 are facing long-term losses, 1,120 are barely maintaining the status quo, and only 160 are in profit. And the remaining old firms are disappearing at a rate of 5% per year.