The value of China’s Top 100 most valuable brands has soared by 57% over the past year, reaching record-setting new heights. The total value of the Chinese brand ranking now exceeds $1.56 trillion. It has grown by 197 percent since 2016, at a significantly faster rate than the Global Top 100 most valuable brands, which increased by 110% over the same five-year period.
Tencent is China’s most valuable brand, with an 85% increase in brand value to $280 billion. Alibaba ($202bn) and Moutai ($111bn) rank in second and third places respectively. Video-sharing mobile apps, Douyin (No. 8, $39bn;) and Kuaishou (No.10, $33bn) enter the Top 10 for the first time.
Across all major categories, the building blocks of brand equity have continued to drive sustainable brand value growth in China. Some of Chinese brands’ biggest announcements over the past year have also had a focus on sustainability, as social responsibility and environmental impact become more important growth benchmarks: China’s biggest brand, Tencent has pledged $7.8 billion to environmental, educational, and rural development programmes; the founders of Meituan, Pinduoduo, and ByteDance have all made significant personal donations to aid China’s development, in addition to steering their companies towards new ethics of corporate responsibility.
Find out more about what has changed for Chinese brands over the past year in this new brand ranking report. Read more on the significant shift in how businesses are balancing profits against social responsibility, and how innovation must move to be centred both on the user and society.