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WeChat Owner is Now 8th Most Valuable Company in the World

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source: thedrum.com

Chinese brands have secured 13 positions in the 2017 Brandz top 100 valuable brands ranking, led by internet giant Tencent, which ranked eighth.

Tencent made the top ten behind tech giants Google, Apple, Microsoft, Amazon and Facebook, as well as Visa and AT&T, and was valued ahead of IBM and McDonald's.

Tencent is the first non-US owned company to crack the $100 bn value barrier, after a 27% increase year-on-year saw it valued at $108 bn in the annual report by WPP and Kantar Millward Brown.

The report revealed the value of Chinese brands has risen by 8% overall in the last year.

Chinese ecommerce giant Alibaba ranked 14, ahead of telecommunications company China Mobile at 17, and banking corporation ICBC in 28th place.

Chinese search giant Baidu ranked 39 in the global rankings ahead of electronics giant Huawei which ranked in 49th place.

Other Chinese brands to make the top 100 list included Ping An, Sinopec, insurance group China Life, and banking corporations, China Construction Bank, Agricultural Bank of China and Bank of China.

China’s Baijiu brand Moutai increased its value 48% to achieve a valuation of $17 bn to rank as the 64th most valuable brand in the world.

The valuation follows research by Brand Finance in March, which reported China’s fiery alcoholic drink Baijiu had overtaken Whisky to become the world’s most valuable spirit. That report also ranked Moutai as the world’s most valuable spirit brand.

The growing influence and value of Chinese brands was evident earlier this year in the Brand Finance Global 500 list, which ranked 16 Chinese companies including Tencent and Alibaba among the top 100 most valuable brands.

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