Having cemented its position as the factory of the world at the end of the last century, the 21st century was supposed to herald the era in which China would showcase its brands, which would then become global household names. Winning the bid in 2001 to host the Olympics in Beijing further cemented the belief that this would be the China century and within a few years, articles, books and documentaries were predicting which Chinese company would be the first to become a global brand. Ten years into the new millennium, and not a single Chinese company is listed in annual 'top 100 brands' charts, which remain dominated by American, European and Japanese brands. The 'Made in China' label also took a knock after a series of tainted product scandals, most notably involving toys and milk powder, causing a global questioning of the reliability of products made in China rather than instilling confidence in Chinese brands. However, recent setbacks should be viewed with a longer lens, for all corporations, whether they are American, European, or Chinese, are equally vulnerable to the damage of negative publicity. The tainted milk scandal is matched by the global backlash against British Petroleum for its oil spill, or against Toyota because of its faulty cars. In addition to the brands which have been embroiled in scandals, many more have failed to achieve global recognition because of misguided attempts at entering foreign markets with poor research or an inability to adapt to local consumer habits. Haier, the Chinese electrical appliances brand, may have made the mistake of marketing itself as a budget brand usually available at Wal-Mart, but so did Marks & Spencer when entering the Chinese market. However, the advantage of modern communication and branding is its power of regeneration. Thus, the emergence of expansion plans by Chinese sportswear brand Li Ning should be welcomed as a reaffirmation of Chinese companies' ambitions to become truly global brands. The emergence of a global Chinese brand may not come as quickly as first thought, but the last decade has shown that China's companies are learning fast. Many of Li Ning's latest moves directly acknowledge mistakes of the past. Its logo has now been changed to resemble the Nike swoosh less and to incorporate a more specifically Chinese identity with reference to the Chinese character representing 'people'. But rather than rely on patriotic consumers, it is also hiring international talent and investing in research and development. Zhang Zhiyong, its chief executive, wants the firm to become one of the top five global sports brands by 2018. When asked about rumours of Nike's plans to lower prices, he commented that would likely undermine Nike's high-end brand image, thereby displaying a brand-savviness that was previously absent in Chinese companies which often undermined their brand equity by engaging in price wars. Every day, we are presented with undisputable evidence that China is capable of manufacturing goods that can match the best. Now, its companies are researching how to make goods which are also new and innovative. Global consumers will only benefit from the extra diversity and competition that Chinese brands will provide.