A new list of China’s most valuable brands points to strong dominance of the country’s tech and finance sectors.
The 2020 BrandZ™ list of China’s 100 most valuable brands released on 15 October indicates that their collective value has reached USD$996.4 trillion, for a YoY rise of 12%.
Alibaba maintain its position as China’s most valuable brand with a total value of $153.2 billion, for a YoY rise of 9%. The strength of the Alibaba brand has been boosted by its focus on the digital economy, which helped it play a pivotal role during efforts to combat the COVID-19 pandemic in China.
Tencent came in second place with a brand value of $151.0 billion, for a YoY rise of 9%, while liquor maker Maotai took third at $53.8 billion, for a YoY increase of 47% and a rise in the rankings of two places compared to 2019.
Financial brands featured prominently in the top ten, including ICBC in fourth place, insurance giant Ping An in seventh and China Construction Bank tenth.
Telecommunications giant Huawei took fifth place with a brand value of $37.398 billion, for YoY growth of 13%, despite being at the centre of tensions between China and the US and the subject of restrictions by other countries.
The list was jointly prepared by London-headquartered media company Kantar and the Shanghai office of UK advertising giant WPP Group.
Top 10 Chinese Brands in Terms of Value for 2020
|No.||Brand||Value in 2020 (USD billion)||YoY Increase|
|4||industrial and Commercial Bank of China||38.149||-6%|
|10||China Construction Bank||21.089||-8%|