State companies dominate top 50 Chinese brands

14:21, December 16, 2010      

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Banking, technology, retailers, and food/beverage all made a strong showing on research agency Millward Brown's inaugural BrandZ Top 50 Most Valuable Chinese Brands.

China Mobile Ltd., the largest mobile carrier in the world's most populous country, ranked No. 1 among the top 50 Chinese brands.

The Chinese mobile carrier had a brand value worth 56 billion U.S. dollars this year. The market researcher said China Mobile has been on its list of the top 100 most valuable global brands for the last five years.

The telecom brand was closely followed by the nation's four largest banks. Industrial and Commercial Bank of China ranked second; Bank of China, third; China Construction Bank, fourth and Agricultural Bank of China, sixth.

Insurance provider China Life Insurance Co. was ranked as the fifth most valuable brand.

The BrandZ Top 50 Most Valuable Chinese Brands span 19 different categories, which reflect the diversity of China's leading brands and represent a total value of 280 billion U.S. dollars. That is equivalent to just more than 5 percent of the Chinese economy.

Millward Brown explained that state-owned enterprises dominated the top 50 ranking thanks to strong government support, relatively fewer competitors and a growing commitment to brand building.

Technology innovators also fared well in the top 50 rankings. Technology brands Tencent ranked No. 8 and Baidu No. 9.

The research firm said innovative companies had stronger brand loyalty and used the No. 11-ranked China Merchants as an example. It has invested heavily in branding and rolling out new offerings to its customers.

BYD Co., which is the fastest growing automaker in China and is known for its electric car designs and green technology, ranked No. 19. Chinese electronics giant Haier Group Co. came in at No. 29, and it was noted for its energy-efficient product designs and consistent branding.

Beverage and retail companies that attached importance to image building were also a major force in the ranking. Wine and beer brands Changyu, No. 22; Tsingtao, No. 35; and Great Wall, No. 50, all recorded strong brand recognition. COFCO's Fulinmen food brand also claimed a spot as No. 49.

Adrian Gonzalez, Head of Millward Brown Greater China, said, "Chinese companies in the BrandZ Top 50 have demonstrated their ability to build strong domestic brands, with a number of them earning a deep sense of loyalty and engagement among Chinese consumers."

Gonzalez added: "China's economy is now at a tipping point. Consumers have an increasing number of brands to choose from, and therefore are becoming more sophisticated in their choices. This research, we believe, can help Chinese companies understand that good brand building is a powerful way to develop and maintain a competitive edge in a market evolving as quickly as China's."

Millward Brown is one of the world's leading research agencies and it is staffed with experts in effective advertising, marketing communications, media and brand equity research under the world's largest communications services group WPP.

By People's Daily Online
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