THE Shenzhen-based Internet giant, Tencent, made its way to No. 8 among the world’s 100 most valuable brands, according to the 2017 BrandZ study released by WPP, the world leader in marketing communications.
With a brand value increase of 27 percent to US$108.3 billion, it is the first time a Chinese company has entered the top-10 pantheon.
Google surpassed Apple to dominate the leading position.
The success of Tencent reflects the buoyant place of Chinese companies in the global market.
Compared to 2005, the value of Chinese brands has surged 937 percent, occupying 11 percent of the list’s value, according to the report.
WeChat had 889 million active monthly users in 2016, according to figures from Tencent. In addition, Tencent continues investing in tactics for its future evolution into a mobile Internet-based ecosystem. The report indicated that besides social media apps, Tencent benefits from its online gaming business as well as its payment and cloud services.
The other top 10 brands include Microsoft, Amazon, Facebook, AT&T, Visa, IBM and McDonald’s.
According to the report, “25 percent of the total value of the BrandZ Top 100 Most Valuable Global Brands is made up of the combined brand value of the Top 5, emphasizing their dominant positions in the modern business landscape.”
Other Chinese companies among the top 100 include Alibaba, China Mobile, ICBC, Baidu, CBC, Ping An, ABC, China Life and Bank of China.
The study is a comprehensive analysis of brand equity, financial performance and interviews with over 3 million consumers about thousands of companies.