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 trillion dollars in 2022, according to a report released by the international market research firm, Kantar, on Thursday.
The top 10 chart for 2022 saw Tencent, with a brand value of 204.4 billion U.S. dollars, 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 billion dollars and 108.5 billion dollars, respectively.
Among this year's highest-ranking newcomers, lifestyle-focused social media platform Xiaohongshu, with a brand value of 6.6 billion dollars, ranked 37th, while the intelligent speech and AI technologies company iFLYTEK reaped 4.2 billion dollars 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 percent 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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