The total value of China’s top 100 brands grew by 6% to hit a record level of US$557.1 billion according to BrandZ™ Top 100 Most Valuable Chinese Brands by WPP and Kantar Millward Brown.
Tencent remains China’s most valuable brand for a third consecutive year, growing its brand value by 29% to US$106 billion, making it the first Chinese brand to surpass US$100 billion mark.
Lenovo was the most export-focused brand in the BrandZ China Top 100 with 72% of revenues gained from overseas revenue while Huawei secured 58% and ZTE 47% of their revenues from outside China. The other top 10 Chinese brands in overseas revenues are TCL (44%), Air China (36%), China Eastern Airlines (36%), PetroChina (31%), Midea (30%), China Southern Airlines (26%), and Hisense (22%).
For the first time, Chinese brands exceeded multinationals in Brand Power. Only 7 years ago, a significant gap separated the Chinese and multinationals in Brand Power according to Kantar.
Top 100 Chinese Brands Category Value Changes
The study showed that technology, banks, and telecom providers led category brand value contribution from the world’s second-largest economy.
Education and travel agencies in China were the fastest-growing sectors, up 46% according to this BrandZ™ Top 100 Most Valuable Chinese Brands. Technology brands’ total value increased US$163.7 billion (+16%); and, retail brands gained US$74.2 billion (+22%).
Millennial Brand Loyalty Crosses Categories in China
BrandZ research reveals the most successful brand at increasing millennial loyalty was mobile phone handset brand OPPO, up 157% since 2014.
Also read: Top 30 Chinese Export Brands 2017