Shenzhen brands among world's most valuable

Four Shenzhen brands, namely Huawei, Ping An, WeChat and Tencent QQ, have entered the list of the world's 50 most valuable brands, according to brand consultancy firm Brand Finance, which recently released their rankings of the 500 most valuable brands in the world in 2019, the Shenzhen Economic Daily reported.

In particular, Huawei, Ping An and WeChat have made great progress in terms of their brand value and rankings this year.

With a brand value of $62.278 billion, Huawei climbed from 25 to 12 this year. Its brand value also increased by 63.7 percent compared with 2018. Ping An increased its brand value by 76.7 percent and took No. 15 with a $57.626-billion brand valuation. WeChat's brand value reached $50.707 billion, up 126.2 percent year on year and rising 27 places.

Technology companies continue to dominate Brand Finance's list this year, as six out of the top 10 most valuable companies are from the tech sector.

Amazon is ranked the world's most valuable brand with a brand value of $187.9 billion, followed by Apple and Google, each having a brand value of $153.6 billion and $142.8 billion, respectively.

Traditional retailers are losing value and have seen notable changes in the rankings. As the most valuable brand in the world 10 years ago, Walmart has dropped out of the top 10 for the first time this year.

Chinese brands have witnessed the fastest growth on the list. The total brand value of all Chinese brands has exceeded $1.37 trillion, with the technology, banking, insurance and real estate industries showing excellent performance.

Among the Chinese brands on the list, Industrial and Commercial Bank of China is ranked the highest at No. 8, with China Construction Bank at 10, and Huawei at 12.

The other top 50 Chinese brands are Ping An (14), China Mobile (15), Agricultural Bank of China (16), State Grid Corp. of China (18), Bank of China (19), WeChat (20), Tencent QQ (21), Taobao (23), China National Petroleum Corp. (33), Tmall (35), Kweichow Moutai (45) and Sinopec (49).