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News item two: BrandZ Lists Tencent as Nation’s Most Valuable Brand in 2017
Apple Inc. and Google Inc. occupy the No. 1 and No. 2 brands on the list and Amazon
entered the top 10, with a 41 percent growth in brand value. The combined value of the
top five US tech giants was worth 25 percent of the total value. Technology giant
Tencent Holdings Ltd has become the most valuable Chinese brand, followed by
Alibaba Group Holdings Ltd and China Mobile. The three companies were listed in the
top 20 of the 100 most valuable global brands in 2017 released by BrandZ this month.
With the increasing popularity of WeChat, an instant messaging tool developed by
Tencent, the share price of Tencent, China’s largest internet portal, surged about 60
percent in the past 12 months. Among the total, technology brands dominate the list.
US brands rose 12 percent in value year-on-year, and other brands declined 1 percent,
except Chinese brands, which grew 1 percent. Thirteen of the global top 100 brands are
based in China, up from only one brand, China Mobile, 12 years ago.
In terms of brand value, Chinese brands soared 937 percent in brand value in the last
12 years. Their total value now reached $406 billion and they now comprise 11 percent
of the total, according to the BrandZ report, which has been tracking brand values for
12 years. Zhou Qiren, a professor at National School of Development at Peking
University, said: “Quality is the foundation of brands. Now, we need to start a quality
revolution in China, so that Chinese brands will gain a footing globally. It can be
foreseen that those Chinese brands, which can meet the demand of consumers with their
high quality, will hold a place in the world.” As China pivots to a consumer-driven
economy, the most impressive performance has been posted by brands providing
products and services for the urban middle classes, said th
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