06 September 2022, Tuesday, 09:58 314

Top 100 Chinese brands reach 1.24 trln USD in overall value in 2022: report

Редактор: Тимофій Борзенко

Most Valuable Chinese Brands. Photo by Xinhua.

The total value of the top 100 Chinese brands surpassed the 1-trillion-U.S. dollar threshold for the second consecutive year and reached $1.24 trln in 2022, according to a report released by the international market research firm, Kantar. This was reported by The Xinhua News Agency.

The top 10 chart for 2022 saw Tencent, with a brand value of $204.4 bln, take the number one spot for the second year in succession. Retail giant Alibaba and liquor maker Kweichow Moutai ranked second and third, registering brand values of $137 bln and $108.5 bln, respectively.

Among this year's highest-ranking newcomers, lifestyle-focused social media platform Xiaohongshu, with a brand value of $6.6 bln, ranked 37th, while the intelligent speech and AI technologies company iFLYTEK reaped $4.2 bln in brand value and secured 53rd spot on the top 100 chart.

The level of awareness of Chinese brands in the overseas market has significantly increased over the past year, the report noted. Overall, overseas operations amounted to about 8.8% of the business of the top 100 Chinese brands.

"Strong brands have the potential to effectively absorb the impact of difficult economic times", – Doreen Wang, CEO of Kantar Greater China said, suggesting that Chinese brands embrace the concept of sustainable development while enhancing full-chain innovation capability.

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