Companies
Tech, consumption-good firms, SOEs lead top 50
(China Daily)
Updated: 2010-12-15 12:59
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BEIJING - State-owned enterprises (SOEs) dominated the ranking while technology innovators and consumption goods companies also made a strong showing in a list of the 50 most valuable Chinese brands.
China Mobile, the country's major mobile phone carrier, took first place in the "BandZ top 50 most valuable Chinese brands" compiled by research company Millward Brown.
The ranking spanned 19 categories and represented a total value of $280 billion, equivalent to slightly more than 5 percent of the Chinese economy.
Meanwhile, of the nation's "big four" banks, the Industrial and Commercial Bank of China came in second, Bank of China third, China Construction Bank fourth, and Agricultural Bank of China sixth place.
"State-owned enterprises benefited from government support, having relatively fewer competitors, and a growing commitment to brand building," said Adrian Gonzales, head of Millward Brown in China.
Gonzales said that China Mobile spends $700 million annually on marketing, and the top 11 companies in the ranking shelled out $2 billion a year.
According to Gonzales, as competition grows in their sectors, State-owned enterprises will not indefinitely retain their position, and Millward Brown will closely follow developments to see.
Technology innovators also fared well in the top 50 rankings. Consumer-facing technology brands Tencent ranked No 8 and Baidu No 9.
Tan Beiping, research and development director at Millward Brown in China, said that innovative products and strong consumer ties were important for brand building.
He added that the only automaker on the list, BYD (No 19), was known for its electric-car designs and green technology; and Haier (No 29), recognized for its energy-efficient product designs and consistent branding.
The third obvious group, food, beverage and retail companies that attached importance to image building were also a major force in the ranking.
Gonzales said these quick-moving and retail industries operating in extremely crowded spaces, have fierce competition and brand building can play a critical role in differentiation. In this group, trust and product performance were key factors in successful branding.
"COFCO's overall industry chain delivers the concept of high-quality food to consumers, which should be a key factor for its successful brand," Gonzales said.
Wan Long, chairman of the board of the meat company Shuanghui Group, recently told China Daily that they would take advantage of overall industry chain to create the most valuable brand in the world.
Retail, sportswear, clothing brands also stood out, with Li Ning (No 24), Meters/bonwe (No 31), Anta (No 43) and 361 Degrees (No 44) placing in the Top 50.
According to Millward Brown, to be included in the top 50 ranking, the enterprises had to be Chinese brands, listed on the Chinese mainland, and have positive earnings.
The ranking adopted methods that incorporated consumer relationships and a brand's financial performance into calculation.
As for the next brand ranking, Tan said he would like to see more diversified categories than appeared on this list.
"China's auto market is booming and we believe more Chinese auto companies will be listed in the next ranking," he said.