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 China's three biggest Internet companies, which also includes Baidu
Inc, all appeared in the country's top 5 rankings, said advertising
company WPP Plc and its research affiliate Millward Brown.
"For the first time the tech industry surpasses the banking industry
in terms of brand value," said Doreen Wang, global head of BrandZ at
Millward Brown, citing the rise of Internet finance and the decline
of profits at big banks.
The annual rankings, based on analysis of a brand's revenue and
consumer responses to it, only cover the country's publicly-traded
companies.
Top brand Tencent is valued at $66 billion, up 95 percent from last
year, according to the report.
The Chinese social media giant's brand value has surpassed Facebook
Inc and it is now the world's fifth most valuable tech brand,
following Apple Inc Google Inc, International Business Machines Corp
and Microsoft Corp, according to Wang.
Alibaba, the e-commerce powerhouse that raised $25 billion in the
world's biggest initial public offering last September, has a brand
value of nearly $60 billion and ranked No. 2 in China, the report
said.
Private enterprise brand value has increased 97 percent since 2013,
while government-owned firms have lost 9 percent over the same
period, the report said.
China Mobile Ltd and Industrial and Commercial Bank of China Ltd,
both government-backed, topped the ranking last year.
Each saw a decline of about 10 percent in brand value, hit by
increased market competition and the government's anti-corruption
drive that targets strategic state firms.
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The total value of China's top 100 brands grew at a record 59
percent from last year, to $464.2 billion, outpacing the 41 percent
growth of the world's top 100 brands, the report said.
"The big question now is what brands must do to be accepted in
international markets," Wang of Millward Brown said.
Although Chinese brands are strengthening their presence overseas,
only personal computer and smartphone maker Lenovo Group Ltd and
cell phone maker ZTE Corp , generated more than half of their
revenue outside China.
(Reporting By Matthew Miller and Beijing Newsroom; Editing by
Subhranshu Sahu)
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