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4 SZ firms in most valuable brand list

Writer:   | Editor: Lily A  | From:  | Updated: 2018-05-31

Four Shenzhen enterprises, namely Tencent, China Ping An, Huawei and SF Express, have made it onto the list of the 2018 BrandZ Top 100 Most Valuable Global Brands released Tuesday by communications service provider WPP and Kantar Millward Brown, the Shenzhen Economic Daily reported yesterday.

Technology giants Google, Apple, Amazon, Microsoft and Tencent take the top five places in the ranking. China’s e-commerce titan Alibaba also breaks into the top 10.

This year, 14 Chinese brands appear on the list, compared with only one in 2006. The total value of all Chinese brands increased 47 percent year on year, and its growth rate was more than twice that of the United States.

Specifically, China Ping An, Huawei, and SF Express are in the 43rd, 48th, and 90th positions, respectively.

Tencent, valued at US$178.99 billion, jumped to the No. 5 spot after entering the top 10 last year. “The growth of Tencent’s brand value benefits from the rapid development of digitization in China, as the Internet and new technologies have been integrated into the country’s economy, culture and the people’s livelihood,” said Liu Shengyi, senior executive vice president of Tencent.

According to the report, the main driving force of Tencent’s growth in brand value lies in its full range of services, from social media to mobile payment. In addition, Tencent’s WeChat has become the dominant player in China’s social media. The number of its users recently exceeded 1 billion worldwide.

Huawei has made it onto the list for four consecutive years, growing its brand value by 22 percent to US$24.92 billion. As the third-largest smartphone manufacturer in the world, its market share continued to increase steadily by 11.7 percent in the first quarter this year despite a fall in global smartphone shipments.

The report also pointed out that the growth of brand value in China’s financial services, including that of China Ping An, is mainly due to the rise of the middle class in China and related policies that encourage consumption.

The ranking, taking into account both business performance and interviews with over 3 million global consumers, is now in its 13th year and has become an internationally recognized brand list.