Geographical Indications(GIs) as an Intellectual Property Right has a distinctive feature which can differentiate GIs from other quality guarantee labelling system. GIs was originally devised to be conductive to consumer confidence in an agricultural product like a fruit through not product quality but pure brand effect. We conducted a conjoint analysis to identify the impact of GIs on brand credibility of a fruit, apple. We have some findings. GIs has two kinds of effects on brand credibility. One is the consumers' misconception effect resulted from the fact that consumers perceive GIs as a quality guarantee label or an origin indication guaranteed by the government. The other is the promotion effect induced by their awareness of the exact information on GIs. Finally, the misconception effect predominates over the promotion effect. These findings imply that the effectiveness of GIs policy may get more and more dubious as the number of GIs issued increases. Recommended are more efforts of the government to promote GIs to consumers.