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More Chinese firms on global top 100 brands list
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A total of fourteen Chinese brands made their names to the global top 100 brands ranking listed by marketing and brand consultancy Millward Brown with technology the fastest growing category.
China now has three technology brands in the top 100, with Tencent and Baidu increasing their brand value by 43 percent and 35 percent from a year ago respectively, faster than global average of 14 percent.
Tencent is the most valuable Chinese brand according to the ranking, Millward Brown said in a press release today.
Alibaba forayed into the list for the first time with a brand value of US$66.4 billion. Both Tencent and Alibaba have overtaken Amazon and Walmart while Huawei and China Telecom are both new entrants to the ranking at No.70 and No.99 respectively.
The total brand value of Chinese brands added more than 10 times from 10 years ago, when only one Chinese brand is on the top 100 ranking in 2006.
"We anticipate more Chinese brands will truly go global with a greater share of their brand value coming from their presence outside China," Millward Brown China chief executive officer Deepender Rana said in a statement.
The brand valuation ranking combines the interviews of consumers as well as each company's financial and business performance.
Globally, Apple overtook Google as the most valuable brand with a 67 percent surge of brand value to US$247 billion.
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