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My Favorite China's Brands
Economy

Spotlight: More Chinese brands go global, further efforts expected in brand building

June 28, 2019


Abstract : Recent years have witnessed more Chinese firms shine on the global stage, with their brand value booming vigorously, driven by innovative business models on the backdrop of cutting-edge technologies.

NEW YORK, June 27 (Xinhua) -- Recent years have witnessed more Chinese firms shine on the global stage, with their brand value booming vigorously, driven by innovative business models on the backdrop of cutting-edge technologies.

With great potential for future growth in overseas influence, Chinese companies have to strive harder to further build their brand power, according to various reports and experts.

-- ROBUST GROWTH

Chinese enterprises have been growing as big players on the world stage, with China's e-commerce giant Alibaba and tech leader Tencent among the world's 10 most valuable brands, showed a latest report by global communication services provider WPP and brand consultancy Kantar Millward Brown.

The report also said that nine new brands have made it into the 2019 BrandZ Top 100 Most Valuable Global Brands. Four of the nine newcomers are Chinese, the most among all countries.

Chinese companies are making "steady progress" in brand value, with 16 appearing in the Top 100 this year compared to merely one in 2006 when the first BrandZ rankings of the world's most valuable brands were unveiled, David Roth, chairman of BrandZ and CEO of the Store WPP Europe, the Middle East, Africa and Asia, told Xinhua.

"Chinese brands have realized that outside of China, there is much potential for growth, and their propositions for their consumers is something that overseas consumers will appreciate," he said.

In addition to the brands that ranked in the Top 100, six other Chinese companies appeared in the category rankings, with two in the Insurance Top 10, two in the Energy Top 10, and other two entering BrandZ Beverages Top 15.

Combining financial value with extensive consumer insights from more than 3.7 million consumers around the world, the rankings report also found that Chinese companies have increasingly made their presence felt despite that the global landscape has become more competitive.

In 2019, the brand value threshold for ranking in the Global Top 100 was 13.4 billion dollars, a 219 percent increase over 2006, according to the report.

"Limited brand awareness in international markets, a lack of trust due to historic quality issues and rel