The award ceremony for the third group of "National Time-honored Brands" was held in Taiyuan, North China's Shanxi province on July 11. A total of 14 companies, including Shanxi Xinghuacun Fenjiu Group, were awarded the prestigious title.

"Time-honored Brands" carry Chinese traditional and cultural significance and hold widespread brand influence. In recent years, Shanxi has been continuously strengthening the preservation of these brands by seizing the new opportunities presented by the "the popularity of trendy Chinese characteristic product". Meanwhile, the province actively helps "Time-honored Brands" to go global and gain popularity, focusing on cultivating leading brands through a tiered and structured approach, while also promoting the rapid clustered development of characteristic industries.

In the third group of "Time-honored Brands" recognized by the Ministry of Commerce in 2023, all 14 applications from Shanxi were approved. The province's total number of "National Time-honored Brands" has reached 37, ranking second in the central region and 11th nationwide. The number of "Provincial Time-honored Brands" has reached 51, bringing the total number of "Time-honored Brands" in the province to 88.

In 2023, the total revenue of "Time-honored Brands" in the province reached 40.98 billion yuan ($5.64 billion), while total profits reached 11.06 billion yuan, representing a year-on-year increase of 20.46 percent and 29.07 percent, respectively.

At the award ceremony, the Department of Commerce of Shanxi Province introduced the protection and development of "Time-honored Brands". Representatives from the awarded companies also delivered speeches.