Knowing All about Hunan

Chinese brands make strong showing in global ranking

Source:China Daily
Updated:2021-01-27 16:28:45

By Wang Junwei | | Updated: 2021-01-27 11:23

People walk past a branch of Industrial and Commercial Bank of China in Beijing, April 1, 2019. [Photo/Agencies]

Chinese brands stood out among the world's most valuable brands according to an annual report by Brand Finance, a brand valuation and strategy consultancy.

In the report, released Tuesday, Chinese brands' total brand value reached $1.4 trillion, or 20 percent of the total brand value in the Brand Finance Global 500 2021 ranking.

ICBC is the country's most valuable brand, placing eighth in the list with a brand value at $72.79 billion.

Other valuable Chinese brands among the top 20 include WeChat (10th), China Construction Bank (11st), Tencent (14th), Huawei (15th), State Grid (16th), Ping An (17th), Taobao (18th) and Agricultural Bank of China (19th).

In real estate, all 11 brands in this year's ranking hail from China, with eight out of those growing in brand value. Evergrande is the most valuable brand in the industry, ranking 85th with a brand value of $20.19 billion.

China also has strong representation in the spirits sector. At 27th, Moutai ranked highest among the five Chinesebaijiubrands in the list, with a single brand value of $45.33 billion.

In this year's ranking, Apple overtook Amazon and Google to reclaim its status as the world's most valuable brand for the first time since 2016, with a brand value of $263.38 billion.