BrandZ: Internet Tech Companies Make List of Top 50 Chinese Global Brand Builders
Google and WPP released a list of the Top 50 Chinese Global Brand Builders 2018 on February 6 in Beijing. The enterprises on the list include hardware manufacturers, Internet companies, airlines, banks, automobile makers and game companies. Lenovo, Huawei, Alibaba and Xiaomi rank as the top four.
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The list has grown from 30 brands in 2017 to 50 brands this year, partly because Chinese companies are looking for ways to expand rapidly around the world. Many Chinese brands are taking advantage of the Belt and Road Initiative proposed by Chinese President Xi Jinping in 2013, and responding to China’s call for globalization in the new era.
According to the list, consumer electronics brands are still the best performers. In 2018, a total of 10 consumer electronics brands entered the Top 50, accounting for 34 percent of the total brand strength. Consumer electronics, mobile games and e-commerce categories such as fast fashion were responsible for 61 percent of the strong brands. The other seven categories account for 39 percent of the total brand strength.
As for specific rankings, Lenovo ranks first, Huawei ranks second and Alibaba ranks third. Many Internet technology companies are also on the list. Xiaomi ranks fourth, Cheetah Mobile ranks tenth, OnePlus ranks twelfth, ZTE ranks fifteenth, OPPO ranks twenty-sixth, Tencent ranks thirty-first, and Baidu ranks thirty-seventh.
From the perspective of brand growth, the three fastest growing brands are Huawei, DJI and OPPO.
Key highlights of Top 50 Chinese Global Brand Builders 2018 include:
- Innovation is the primary factor driving the growth of Chinese brands, and consumers aged 18-34 have the highest awareness of innovation.
- Digital media, at 43 percent, and store displays, at 22 percent, are the most important media channels to enhance the popularity of Chinese brands among international consumers.
- The UK shows the most positive attitude towards Chinese brands, but other countries have different views.
- Google’s search index data showed the gap in search volume between international brand sand Chinese brands narrowed by 29 percent.
- Chinese global brands believe they shoulder a lofty mission, which will help them to participate in the development of “Chinese brands” abroad.
- Chinese state-owned brands generally support the Belt and Road Initiative. Banks, civil aviation and heavy industry all support China’s high-hearted foreign policy.
- Among the Top 50 brands, four are carmakers, two are the largest state-owned oil and gas giants, three are state owned banks and payment networks and five are Chinese airlines.
“Chinese brands are playing a more active role on the international stage,” said David Roth, BAV Group Chairman and CEO of The Store WPP in Europe, Middle East, Africa and Asia, “They have gradually mastered the right to speak in the industry and to support the economic growth of developing countries in a variety of ways, especially by investing in infrastructure. These brands not only change the world’s view, but also give people a more profound understanding of Chinese brands.