17 Chinese brands join world’s top 100

Via China Daily

The logo of Alibaba Group is seen during Alibaba Group’s 11.11 Singles’ Day global shopping festival at the company’s headquarters in Hangzhou, Zhejiang province on Nov 10, 2019. [Photo/Agencies]

A record 17 Chinese brands joined the list of the world’s most valuable brands this year, according to a Tuesday report by global communication services provider WPP and Kantar.

The world’s top 100 most valuable brands have seen their total brand value rise 5.9 percent to $5 trillion despite the impact of the COVID-19 epidemic, according to the 2020 BrandZ Top 100 Most Valuable Global Brands ranking.

China’s e-commerce giant Alibaba took sixth on the list with $152.53 billion in brand valuation, up 16 percent year-on-year, while JD.com saw a 24 percent surge to $25.49 billion, according to the report. Chinese internet heavyweight Tencent came in seventh with a brand value of $150.98 billion yuan.

Two Chinese brands, the livestreaming platform TikTok and Bank of China, are newcomers in the top 100 list, with a valuation of $16.89 billion and $13.69 billion, respectively.

Amazon maintained its position as the world’s most valuable brand, with its brand value increasing by 32 percent to $415.86 billion. Apple was ranked second on the list, valued at $352.21 billion, followed by Microsoft at $326.54 billion.

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