Chinese companies need to be seen as more 'trustworthy' (2)

"Part of the problem is quality and innovation. China in this respect is going up: You are going from imitation to innovation. But communication has to be part of that," he added.

And the low trust toward Chinese companies has significant implications.

"It means it's harder for Chinese companies to do deals. The deals cost more and they find it more difficult to find local partners," Brain said.

But according to Brain, it will only take a few recognized brands to change people's perceptions. A few brands such as Hyundai, Samsung, LG and Kia improved the perception of South Korean brands.

In Singapore, he said, one brand, Singapore Airlines, single-handedly lifted the nation's trustworthiness.

"For me, China has two candidates with the potential to play that role: Haier and Lenovo. I think they have a national duty to over-communicate and overachieve for the rest of China," said Brain.

The survey, based on more than 31,000 online respondents across 26 markets, also found a company's engagement and integrity are important to its success.