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1、China5002023The annual report on the most valuable and strongest Chinese brandsMay 2023Brand Finance China 500 2Contents.2023 All rights reserved.Brand Finance Plc.About Brand Finance3Foreword7 David Haigh,Chairman&CEO,Brand Finance 8Ranking Analysis10Sector Analysis15Region Analysis28Brand Value Ra

2、nking(USDm)33 Sustainability43Brand Spotlights46PICC 47Bosideng 49Yili51Sinopec53Global Soft Power Index55Methodology60Our Services67Brand Finance China 500 3About Brand Finance.Brand Finance is the worlds leading brand valuation consultancy.We bridge the gap between marketing and financeBrand Finan

3、ce was set up in 1996 with the aim of bridging the gap between marketing and finance.For more than 25 years,we have helped companies and organisations of all types to connect their brands to the bottom line.We quantify the financial value of brandsWe put thousands of the worlds biggest brands to the

4、 test every year.Ranking brands across all sectors and countries,we publish over 100 reports annually.We offer a unique combination of expertiseOur teams have experience across a wide range of disciplines from marketing and market research,to brand strategy and visual identity,to tax and accounting.

5、We pride ourselves on technical credibilityBrand Finance is a chartered accountancy firm regulated by the Institute of Chartered Accountants in England and Wales,and the first brand valuation consultancy to join the International Valuation Standards Council.Our experts helped craft the international

6、ly recognised standards on Brand Valuation ISO 10668 and Brand Evaluation ISO 20671.Our methodology has been certified by global independent auditors Austrian Standards as compliant with both,and received the official approval of the Marketing Accountability Standards Board.Get in T business enquiri

7、es,please contact:Scott ChenManaging Director+86 For all other enquiries:+44 207 389 For media enquiries,please contact:Andrew EeCommunications Director,Asia PA Brand Value Report provides a complete breakdown of the assumptions,data sources,and calculations used to arrive at your brands value.Each

8、report includes expert recommendations for growing brand value to drive performance and offers a cost-effective way to gaining a better understanding of your position against peers.Request your ownBrand Value ReportBenefitsContentsCompetitorBenchmarkingVisit email enquiriesbrandfi Brand Valuation Su

9、mmaryBrand Strength TrackingCost of Capital AnalysisRoyalty RatesCustomer Research FindingsInsightStrategyBenchmarkingEducationCommunicationUBrand Finance China 500 5Brand Finance InstituteBrand Finance Institute is the educational division of Brand Finance,whose purpose is to create and foster a pr

10、ofessional environment for knowledge-sharing and networking among practitioners and experts in the market.BFI organises events,in-company training,and corporate educational initiatives around the world.In the quest for marketing excellence and with the purpose to equip the brand valuation and strate

11、gy practitioners with the necessary skills and tools,we have developed a wide range of programmes and certifications in collaboration with the most coveted business schools,universities and thought leaders in the field.Brandirectory is the worlds largest database of current and historical brand valu

12、es,providing easy access to all Brand Finance rankings,reports,whitepapers,and consumer research published since 2007.+Browse thousands of published brand values+Track brand value,strength,and rating across publications and over time+Use interactive charts to compare brand values across countries,se

13、ctors,and global rankings+Purchase and instantly unlock premium data,complete brand rankings,and researchVisit to find out more.Brand Finance Group.Brand DialogueBrand Dialogue is a public relations agency developing communications strategies to create dialogue that drives brand value.Brand Dialogue

14、 has over 25 years of experience in delivering campaigns driven by research,measurement,and strategic thinking for a variety of clients,with a strong background in geographic branding,including supporting nation brands and brands with a geographical indication(GI).Brand Dialogue manages communicatio

15、ns activities across Brand Finance Groups companies and network.VI360VI360 is a brand identity management consultancy working for clients of all sizes on brand compliance,brand transition,and brand identity management.VI360 provide straightforward and practical brand management that results in tangi

16、ble benefits for your business.BGlobal BrandEquity MonitorOriginal market research on over 5,000 brands 38 countries and 31 sectors coveredMore than 150,000 respondents surveyed annuallyWe are now in our 7th consecutive year conducting the studyVisit or email enquiriesbrandfi Bringing you the best,a

17、nd then some moreGet your copy from 16 May 2023or email enquiriesbrandfi While holding in your hands one of the worlds leading reports on Chinas most valuable brands,why not augment your insights with coverage on some of the nations most vibrant cities?Introducing Brand FinancesGlobal City Perceptio

18、ns Index 2023Equip yourself with stakeholder attraction strategies with our fi rst ever report offering unique insights into perceptions of city brands worldwideDelve into key themes such as investment potential,liveability,cultural vibrancy,retirement feasibility,tourism attractiveness,sustainabili

19、ty and moreBoost your China business strategies with data on 9 major Chinese cities includedStay in the know with coverage on 100 cities across 20 key markets including China,UAE and USDavid Haigh Chairman&CEO,Brand FinanceBrand Finance China 500 8Foreword.Brand valuation helps companies understand

20、the value of their brand and how it contributes to the overall value of the company.This important understanding can inform decision-making related to marketing and branding efforts,as well as provide a benchmark for future performance.It can also be used to help attract investors and secure financi

21、ng,as a strong brand can be a valuable asset.Additionally,brand valuation can be useful in the event of a merger or acquisition,as it can help determine the value of the brand being acquired.Overall,brand valuation helps organisations understand the worth of their brand and how it fits into their ov

22、erall business strategy.A strong brand can lead to improved business returns in several ways.First,a strong brand can help a company differentiate itself from its competitors and establish a unique identity in the market,which can lead to increased customer loyalty and retention.This,in turn,can lea

23、d to higher sales and revenue.A strong brand can also help a company command a higher price for its products or services,as consumers are willing to pay more for a brand they perceive as high-quality and trustworthy.In addition,a strong brand can help a company attract top talent,as employees may be

24、 more attracted to work for a well-known and reputable brand.Finally,a strong brand can provide a company with a competitive advantage and help it weather economic downturns or industry disruptions.This year,Brand Finance has invested more in researching and understanding customer perception of bran

25、ds across the world than ever before,with original research taking place in dozens of jurisdictions globally.The report you are reading is based on this extensive original research,with the findings representing a catalyst for further conversations.If you want to help build a stronger brand,or if yo

26、u want to better understand the value of your brand,please contact the Brand Finance team and I anytime.I look forward to the conversation and helping to build a more profitable future for your brand.Brand Finance China 500 9Top brands in China shine amidst pandemic lockdown with most improving rank

27、 positions.+ICBC defends crown as most valuable brand in China with brand value exceeding$69.5 billion+WeChats“super app”ambitions lends to its retention of strongest brand in China title+Seres(up 123%)is fastest growing brand in China;fueled by electric car production goals and overseas expansion p

28、lansRanking Analysis.Brand Finance China 500 11Ranking Analysis.ICBC defends crown as most valuable brand in China with brand value exceeding$69.5 billion ICBC retained its lead as the most valuable brand in China in our rankings this year with a brand value of$69.5 billion,proving resilience in the

29、 wake of a 7%decline from 2022s$75.1 billion.It garnered a brand strength rating of AAA,down from last years AAA+as well.Despite lockdown measures taken as part of Chinas“zero-COVID”policy which affected revenue forecasts and general outlook of several brands in our rankings,ICBCs successful defence

30、 of its crown also attests to its strong commitment towards achieving stability,progress and reform as well as its significant role in supporting Chinas economy.In the commercial sector,the brand expanded its credit,which made funds more direct and accessible.This not only facilitated the growth and

31、 development of businesses,but also allowed it to maintain its lead in extending the largest amount of loans in key industries such as manufacturing,sci-tech and agriculture,with a focus on improving urban-rural collaboration.In the private sector,ICBC saw a record high increase in customer deposits

32、 exceeding$491.89 billion(3.4 trillion yuan),which is unsurprising considering its strong brand performance.The brands venture into digitalisation is reflected in the launch of Mobile Banking 8.0 and ICBC eLife 5.0,leading the industry in terms of the number of mobile banking customers and new paten

33、ts acquired within the year.Additionally,ICBCs Green Bank+brand and its granting of carbon emission reduction loans to more than 800 projects reflects its strong commitment to the environment.Brand Finance China 500 12Ranking Analysis.Top 25 Most Valuable Chinese Brandsx6-19%$50.2 bn4F7+16%$49.7 bn1

34、3g8-4%$47.3 bn10t98$44.7 bn-18%G102$44.3 bn-38%g1-7%$69.5 bn1g3-4%$62.7 bn3L46$58.8 bn-2%g55$57.7 bn-7%x2+11%$65.7 bn7 Brand Finance Plc 20231221100202z16+0%$29.6 bn15D17-44%$27.4 bn11z18+8%$27.1 bn19g1920$24.5 bn+1%G2023$21.6 bn+5%H11+6%$43.4 bn14m13+16%$31.9 bn17D149$30.5 bn-43%F1516$30.3 bn+5%x12

35、-18%$38.1 bn121122222120m21+8%$19.8 bn26m22-3%$19.0 bn24D23-30%$19.0 bn18g2427$18.9 bn+7%t2521$17.9 bn-25%22121Brand Finance China 500 13Top 10 Strongest Chinese Brands91.6-1.8x1AAA+189.8+0.4F3AAA+387.1-E4NEWAAA86.9+0.5L58AAA86.8-0.1g6AAA790.8+2.5F2AAA+586.6+2.0o7AAA1886.4-3.1g8AAA286.4+0.3h910AAA86

36、.3-2.6g104AAARanking Analysis.Brand Finance Plc 20232212100 22WeChats“super app”ambitions lends to its retention of strongest brand in China titleWeChat defended its title as the strongest brand in China,maintaining its AAA+brand strength rating although seeing its brand value head southwards with a

37、 19%drop to$50.2 billion.WeChat reported a user base exceeding 1.2 billion users in 2022 that utilised its product offerings encompassing a wide range of value-added services including text messaging,hold-to-talk voice messaging,broadcast(one-to-many)messaging,video conferencing,video games,mobile p

38、ayment,sharing of photographs and videos and location sharing.The brand has aims of being a“super app”that provides a multitude of services and offerings including entertainment,messaging,mobile payments and e-commerce through a single interface all in the name of improving user experiences with hig

39、h app versatility and comprehensiveness.Indeed,WeChats expansion plans point towards much optimism,with its development of Channels in 2022.Channels is a video sub-platform that enables users to record,create and share videos as well as livestream them,leveraging the rising trend and popularity of s

40、hort form content.The brand recorded a 237%year-on-year increase in the number of short videos produced in 2022.Also contributing to WeChats brand strength performance were the environmental,social and governance(ESG)initiatives and commitments undertaken by parent company,Tencent.Guided by its“Tech

41、 for Good”vision,Tencents aims of achieving carbon neutrality in its operations and supply chains by 2030 saw it purchase 336.42 TWh of green energy in 2022,reducing carbon emissions by 241.95 megatonnes.In addition,the company continues to support the development of next-generation low-carbon techn

42、ologies,having launched its flagship CarbonX Program in March 2023 and the TanLive platform in December 2022.Brand Finance China 500 14Ranking Analysis.Brand Value Change 2023-2022(%)123%83%83%78%71%68%66%57%51%50%-84%-71%-71%-69%-60%-57%-56%-54%-53%-52%Brand Finance Plc 2023Seres(up 123%)is fastest

43、 growing brand in China;fueled by electric car production goals and overseas expansion plansWith a meteoric 123%growth in brand value to$739.25 million,Seres is the fastest growing brand in our rankings,with an unrivalled 118-place jump to 333rd position among the top 500 brands in China.Seres produ

44、ct offerings includes cars,motorcycles and commercial vehicles as well as shock absorbers and internal combustion engines.We note that Seres brand performance was driven by several upbeat factors including expanding its presence into overseas markets such as a foray into Italy in March 2023,a partne

45、rship with Huawei to develop electric vehicle technology as Seres endeavours to producing a total of 1 million electric cars by 2026 and a 1.5 billion yuan($208 million)investment in a new energy vehicle industrial park project in Chinas Liangjiang New Area in Chongqing City.In line with the brands

46、focus on technologies and products in the new energy vehicle space,Seres noted that its new energy vehicle business accounted for 48.28%of the companys operating revenue in the first quarter of 2022.On the ESG front,the brand has also pledged to channel 1%of its annual operating revenues into its ch

47、arity foundation towards environmental protection and development of new energy industries.Established in August 2017,Seres charity foundation has wide-ranging ESG and Corporate Social Responsibility(CSR)objectives such as promoting charitable and environmental causes,education and talent nurturing,

48、poverty alleviation and disaster relief among others.Sector Analysis.Brand Finance China 500 16Sector Analysis.AirlineFollowing the easing of Chinas“zero-COVID”measures,China reopened its borders to international travelers from 8 January 2023,leading to an 85%increase in average daily international

49、ticket sales for both outbound and inbound travel.Consequentially,most airlines brands posted extremely optimistic revenue forecasts which led to increases in brand values,especially for two of Chinas most valuable airlines brands:China Southern,whose brand value increased by 39%to$3.23 billion and

50、China Eastern,whose brand value increased 26%to$2.85 billion.The total number of airlines brands listed in the China 500 2023 rankings this year remain at 12.However,we found that the total brand value of airlines brands in China increased to$14.18 billion from$12.66 billion in 2022.This supports ou

51、r optimistic outlook of the sectors strong post-pandemic recovery.Chinas flag carrier,Air China,emerged as the nations strongest airlines brand with a Brand Strength Index score of 77,reflecting widespread recognition of its brand image.With the International Air Transport Associations(IATA)approval

52、 of Chinas optimised COVID-19 response measures alongside strong recovery of international travel,the rejuvenation of Chinas aviation and tourism points towards a promising future for the brand.Brand Finance China 500 17Sector Analysis.AutoThe electric vehicle market doubled in sales in 2022,propell

53、ed by government subsidies.Some new players in the electric vehicle scene posted significant increases in brand value,such as BYD,whose brand value increased by 57%.For BYD,this performance is largely due to impressive revenue showings,leading to a jump in its forecasted revenue growth in 2023.Simil

54、ar trends were observed with Geely,whose brand value increased by 11%despite a weakening Chinese Yuan and reduced investor confidence owing to an unstable geopolitical and fiscal environment.The Brand Strength Index scores for most auto brands remain relatively stable,with brands such as BYD and Gee

55、ly witnessing a slight decrease in their products value for money due to higher global inflation rates.Auto brands continue to invest in the research and development of core technologies to improve the performance of new energy vehicles,reflected in higher product scores.For example,Geely has been d

56、eveloping technologies in pure electric,hybrid and methanol power trains as well as exploring battery swapping operations.The brand also launched the first nine low-orbit satellites with the“Geely Future Mobility Constellation”in June 2022.These factors,along with new model releases,resulted in bran

57、d investment score increases for Geely.Auto brands have shown a strong commitment to sustainable development.Geely saw full lifecycle carbon emissions from a single vehicle in 2022 drop by 8%,improving on a 5.6%decrease achieved in 2021.Meanwhile,BYD has emphasised on research and development in bat

58、tery energy storage technology towards safety improvements and lowering whole life cycle costs.In addition,BYD has invested resources in solar energy research.We note that these initiatives contributed to higher ESG scores compared to other auto brands.Brand Finance China 500 18Sector Analysis.Banki

59、ngThe banking sector in China last year was in flux,especially for the megabanks.Instabilities in the world finance industry and rising inflation led to a loss in investors confidence on the banking sector.Chinese banks net interest margin remained under pressure in a low interest rate world,and the

60、ir asset quality also faced high risks from nonperforming loans.Moreover,ICBC and the Agricultural Bank of China,which were ranked 1st and 3rd among the most valuable banking brands in China,both saw a decline in business forecast resulting in an approximated 7%decrease in brand value each.However,d

61、espite the challenging macroeconomic environment,some smaller sized banks have significantly increased their brand strength and brand value by cultivating their potential in brand investment and brand performance.One example is Shanghai Rural Commercial Bank.Higher Capital Assets ratio,better govern

62、ance and higher forecast revenue growth compared to other banking brands in China resulted in an improvement in its brand strength rating from AA-last year to AA this year.With foreseeable economic recovery in China,both the megabanks ICBC and the Agricultural Bank of China and the smaller players l

63、ike Shanghai Rural Commercial Bank will likely to be able to recoup previous investment on brand equity,to increase customer base and significantly increase their margins in the near future.Indeed,both the Agricultural Bank of China and Shanghai Rural Commercial Bank have actively facilitated nation

64、al ESG strategies and pursued regional development strategies in the past years.For example,the Agricultural Bank of China actively participated in the policy design and research and development in support of Chinese Yuan internationalisation,and micro-enterprises development.The Shanghai Rural Comm

65、ercial Bank responded to the governments“Belt and Road”initiative by providing credits for businesses to support their international expansion.These strategies have improved the reputations of both banks,which feed into long term improvements on their brand equity and brand performance.Brand Finance

66、 China 500 19Sector Analysis.ChemicalsThe net output from chemicals brands in China saw a decrease in the first half of 2022 owing to the“zero-COVID”lockdown of several major cities/regions which are also home to these brands or their important production sites.The lockdown also impacted consumer de

67、mand from households and key industries such as automotive.We also note that significant cost increases in energy and raw materials eroded production margins.Demonstrating resilience however,production and demand rebounded in the second half of the year with the easing of pandemic measures and the e

68、conomy reopens.Chemicals brands in our rankings generally showed improvements in their placing compared to 2022,with Rongsheng Petrochemical retaining its position as the most valuable chemicals brand in China with a brand value increase of 12%to$2.6 billion.The brand is also actively increasing its

69、 international market presence,such as through a cooperation between the brand and Saudi Aramco which will further consolidate the existing crude oil procurement business relationship between both parties.This is expected to expand Rongsheng Petrochemicals overseas sales channels further in addition

70、 to boosting the resources of both parties,as well as promoting the realisation of their strategic goals and long-term sustainable development.Brand Finance China 500 20Sector Analysis.Engineering&ConstructionThe engineering and construction(E&C)sector in China recorded strong growth over the past y

71、ears prior to 2022,riding on the back of low-interest rates and increased government spending on infrastructural development.However,the sector faced ongoing pressure in 2022 from policies designed to deleverage property developers in the nation and also focus on more sustainable construction activi

72、ty.19 E&C brands are listed in our rankings this year,with a combined brand value of$144.44 billion a 20.9%increase from last years rankings that had 14 brands listed.Conch posted the largest drop of 26%in brand value among all E&C brands in China,driven by lower revenues and revenue forecasts.The b

73、rand had reported revenues amounting 132.02 billion yuan($19.07 billion)in 2022,down 21.4%on the same period a year earlier.This was attributed to rising energy costs,particularly coal prices,and a decline in sales prices of the groups products.The same was experienced by BBMG to a lesser extent,who

74、se brand value decreased about 22%amidst lower revenue forecasts.BBMG reported an operating revenue of 102.82 billion yuan($14.85 billion),representing a year-on-year decrease of approximately 16.8%.Some brands,such as CSCEC,Power China and CNNC,posted positive brand value growth,having achieved dou

75、ble-digit increases owing to higher revenue forecasts and improvements in Brand Strength Index scores.On the ESG front,the Chinese government announced a five-year plan for a smarter,greener and safer E&C sector in a bid to reducing carbon emissions,adopting digital technologies and improving the sa

76、fety and quality of buildings.In response,E&C brands have adopted various measures in line with an increasing focus on sustainability.CNBM,the largest cement and concrete brand in China,implemented its Dual Carbon Goals aimed at advancing green development and low-carbon technology as well as leadin

77、g green and intelligent transformation of the cement industry.Brand Finance China 500 21FoodThe pandemic served to heighten Chinese consumers awareness and interest towards foods that fortify immunity,leading to increases in brand values for all major food&drinks brands in China that have successful

78、ly built healthy brand images over the last couple of years.Among the 14 food&drinks brands listed in the China 500 2023 rankings,10 posted improvements in their ranks and eight saw their brand values increase.Although the enterprise values of almost all food&drinks brands in China decreased in 2022

79、,these brands also exhibited strong future revenue growth potential based upon years of brand image cultivation.Yili,whose brand value increased by 17%to$12.4 billion,leads the charge in terms of brand value and brand strength among food&drinks brands in China owing to several factors.Although sales

80、 from liquid milk businesses have declined in 2022 in line with reduced consumer demand and logistical disruptions owing to pandemic-related measures,Yilis milk powder sales increased dramatically due to the acquisition of Ausnutria Dairy.Also,Yili launched a series of successful product strategies

81、aimed at increasing the range and quality of its products,contributing to a Brand Strength Index score increase for the food&drinks brand.Lastly,increases in price premiums from Yilis wide range of products and an overall increase in sales helped improve its lead over other food&drinks brands in Chi

82、na.In its bid to achieve green manufacturing,Yili implemented in 2010 its Carbon Footprint Verification in its manufacturing process to achieve carbon neutrality and peak emissions.This,along with a series of energy conservation and resource recycling measures such as new energy management,water res

83、ource management and wastage management contributed to Yilis impressive ESG score performance.Sector Analysis.Brand Finance China 500 22Sector Analysis.InsuranceChinas insurance sector witnessed a challenging 2022,with share prices of major insurance brands headed southwards as they struggled to mee

84、t analysts expected revenue forecasts.The biggest insurance brand,Ping An,saw an 18%drop in brand value mainly resulting from lower revenue forecasts.The same went for China Life,which posted a bigger decrease in brand value of 25%.CPIC reported positive revenues however,which cushioned its brand va

85、lue decline and contributed to its improvement by one place to 28th position in our rankings.Some insurance brands in China,however,have demonstrated resilience in light of the generally underperforming sector.PICC,for example,achieved a 22%increase in brand value because of higher revenue forecasts

86、 owing to notable growth in health insurance and non-life insurance earnings.We are of the opinion that there is likely to be continued robust growth of health insurance earnings as awareness of personal health increases in post-pandemic China.We also observed robust growth in non-auto insurance and

87、 rebounds in growth of premiums in auto insurance.This is mainly due to better loss ratios of auto insurance,accidental injury and health insurance as“zero-COVID”measures reduced traffic and also the number of traffic accidents in the nation last year.On the ESG front,CPIC and PICC have both launche

88、d several projects to promote ESG development and improve governance efficiency.These are reflected in higher ESG scores within our Brand Strength Index as compared to other insurance brands in China.For example,CPIC launched its first low carbon project equipment damage insurance to provide thermal

89、 risk safeguards to carbon reduction equipment of businesses while PICCs green finance investment scale reached 65 billion yuan($9.4 billion)in 2022,an increase of 34%compared to the previous year.Brand Finance China 500 23Sector Analysis.Jiangxi Copper is one of the new entrants in our rankings,hav

90、ing posted commendable brand performance.The brand made a strong debut as the most valuable mining brand with a corresponding brand strength rating of AA-.With strong revenue forecasts in line with an impressive yearly earnings per share compounded growth of 33%since 2019,the mining brand Chinas lar

91、gest copper producer is well-poised to leverage a growing global copper industry fueled by electric vehicle demand,transition to renewable energy systems and the metals replacement of aluminum in computer and appliance parts.This positive business outlook,along with its commitment to ESG targets and

92、 initiatives,has translated into much optimism and positive reputational perceptions which are reflected in Jiangxi Coppers brand performance this year.On the ESG front,the mining brand intends to peak emissions by 2029 and be carbon neutral by 2060.It has embarked on initiatives such as substitutin

93、g fuels to reduce emissions and using more efficient ways for the treatment of gases after collection.Mining,Metals&MineralsThe mining sector in China is one of the worlds largest and most diversified,accounting for over 7%of the countrys gross domestic product(GDP).China is also the third largest p

94、roducer of iron ore globally and accounts for over 70%of global exports.However,within Chinas mining sector,coal is the most significant industry,being the worlds largest producer and consumer.Five mining brands are listed in our rankings this year,with a total brand value of$12.68 billion a commend

95、able increase of 131%from 2022s$5.48 billion with three brands listed in the rankings then.This supports our view that the mining sector is ushering strong post-pandemic recovery.On the whole,mining brands posted stellar financial results in 2022 on the back of high commodity prices while adopting p

96、rudent cost management approaches.These brands also continued to invest into research and development investment to improve safety,drive greater productivity,deliver sustainable development as well as achieve dual carbon goals aiming to peak carbon dioxide emissions by 2030 and achieve carbon neutra

97、lity before 2060.Brand Finance China 500 24Sector Analysis.PharmaTraditional Chinese Medicine,one of the earliest medical systems developed in the world,played a crucial role in alleviating COVID-19-related symptoms in the nation.Nine pharma brands in China are listed in the China 500 2023 rankings

98、with a total value of$10.3 billion,accounting for 5%of the total brand value of all brands listed.Guangzhou Pharmaceutical,a leading pharma brand in Traditional Chinese Medicine,posted an 8%growth in brand value to$2.2 billion,securing its position as one of the most valuable pharma brands in China.

99、Guangzhou Pharmaceuticals brand strength has also been increasing steadily since 2020,with a 6%Brand Strength Index score increase from 2022s 66 to 70 the key contributor to its brand value growth.Driving Guangzhou Pharmaceuticals brand performance is a continued approach towards Research&Developmen

100、t investment as the brand strives to build a high-level scientific research platform to deploy high-quality innovative projects.Indeed,Guangzhou Pharmaceutical plans to promote more than 30 varieties of research projects during its 14th Five-Year Plan period,including special medicines for external

101、use and special medicinal food in addition to building an anti-tumour industry chain platform and plant beverage engineering technology research centre.The brand is also conducting policy research for the forthcoming Macau legislation of Traditional Chinese Medicine.Brand Finance China 500 25Sector

102、Analysis.improve their brand values.For example,Wuliangye has actively promoted its brand culture and influence both domestically and internationally by displaying brand images in core city areas and participating in international events.These initiatives contributed to high promotion scores and rel

103、atively higher reputation scores than their peers.Moutai has engaged in development initiatives that focus on innovating higher quality products and exploring cultural connotations with modern society.These translated to higher recommendation scores and stronger revenue forecasts for Moutai compared

104、 to other Chinese spirits brands.Spirit brands in China,led by Moutai and Wuliangye,have seen a sharp increase in sales and share prices since January 2023,as lockdown measures ease and the economy reopens.Consistent investment in their brand strength have also helped these brands retain consumer in

105、terest,building upon brand resilience after three years of lockdown measures.SpiritsThe Chinese spirits sector is dominated by a few well-established brands.Although only 10 spirits brands are ranked in the China 500 2023 report,they account for a combined brand value of$112.38 billion,5.7%of the va

106、lue of all brands ranked in this report.As observed with several other sectors in China,the enterprise values of these spirits brands saw a decline due to high level of market uncertainties and reduced consumer demand due to the“zero-COVID”policy.However,the brand values of these 10 spirits brands p

107、osted increases nonetheless,owing to strong revenue forecasts.Some of these brands,such as Moutai,Wuliangye and Xinghuacun Fen Wine,were able to increase their Brand Strength Index scores even during COVID-19 disruptions.We also note that spirits brands have generally posted improvements in various

108、forms in this years study.The two biggest spirits brands by brand value in China,Moutai and Wuliangye,have launched and implemented series of brand promotion initiatives to Brand Finance China 500 26Sector Analysis.TechTech is the second most valuable sector in the China 500 2023 rankings,with 90 te

109、ch brands contributing$212.63 billion or 11%of the combined brand value of all brands ranked.Nevertheless,it was not spared from the repercussions of global developments,making 2023 a tough year for the sector.For example,rising commodity prices,fluctuating exchange rates,the COVID-19 pandemic and g

110、eopolitical strife impacted big tech brands in China like Huawei who saw its brand value drop 38%to$44.29 billion.Market analysts expected a lower forecast growth rate compared to 2022,which negatively impacted its valuation.However,despite the challenging environment,Huawei managed to maintain its

111、outstanding brand strength with an AAA-rating.With plans to develop increasingly innovative and resilient business areas,including the opening of a 150 million($164.8 million)European cloud services hub in Ireland,we are of the opinion that its brand value will more than likely recover soon.The seco

112、nd most valuable tech brand TSMC is also the strongest brand in the semiconductor sector with an AA+brand strength rating.With a brand value of$21.56 billion,it is just behind sector leader Intel by approximately$1.4 billion.The soaring demand for semiconductors used in smartphones,laptops and other

113、 gadgets during the COVID-19 pandemic led to an acute chip crunch,forcing many automakers and electronics manufacturers to cut production and rely on chip manufacturers like TSMC.As the worlds largest contract manufacturer of chips,the high global demand translates to a positive outlook for TSMC,con

114、tributing to its strong financial performance outlook in 2023.Additionally,TSMC also announced plans to meet increasing demands from new technologies such as fifth-generation(5G)telecommunications technology and artificial intelligence applications by increasing capital spending in the coming few ye

115、ars.These events point towards an optimism in TSMCs brand performance in the near future.Other tech brands that attained an AAA-brand strength rating are Gree,UMC and Acer.In particular,market research revealed that Gree,a well-known home appliance brand,achieved exceptionally high scores in our Fam

116、iliarity,Consideration and Recommendation metrics.The brands excellent performance in brand equity and strong brand loyalty are also noteworthy.Brand Finance China 500 27Sector Analysis.2021,State Grid intends to achieve a carbon peak and ultimately carbon neutrality(aka“dual-carbon goals”)by increa

117、sing and diversifying the use of clean energy sources.It is also working to provide a reliable power supply and improve access to electricity.In a project to make coal-fired heating systems electricity-based,the brand invested a total of 33.8 billion yuan($4.89 billion)in construction of supporting

118、facilities in 2019,which contributed to reduced utilisation of coal by about 5.32 million tons,reduced emissions of carbon dioxide by 9.47 million tons and reduced amounts of,about 3.01 million tons,of sulfur dioxide,nitrogen oxide and dust.Chinas power demand growth is likely to rebound to mid-sing

119、le digits in 2023,up from 3.6%in 2022,driven by post-pandemic economic growth.To this end,State Grid pledged to step up investment in 2023,with funds set aside for power grid construction to hit a record high of 520 billion yuan($75.23 billion).With expected recovery of power demand in China and Sta

120、te Grids increasing investment in power grid construction,the brands sales and earnings growth is poised for acceleration in the near future.UtilitiesChinas power consumption rose 3.6%year on year to 8,637 TWh in 2022,easing sharply from a growth of 10.3%in 2021.The growth rate was the lowest in sev

121、en years since 2016,according to historical data from the China Electricity Council.Market observers attributed this growth rate to weaker economic growth and pandemic related measures that saw energy consumption capped.In addition,the profit margins of Chinese power generation brands were expected

122、to be low as coal prices remained elevated.State Grid,the most valuable utilities brands in China,saw a decline in brand value by approximately 2.2%,in tandem with slower growth in Chinas power consumption,coupled with lower operating margins as a result of surging coal prices.However,despite the ch

123、allenging macroeconomic environment,State Grid manage to improve its Brand Strength Index by 0.5 points.The brand also posted improvements in ESG scores,which could be attributable to State Grids commitment to promote green,high-quality development of grid construction.In its“Carbon Peak and Carbon

124、Neutral”action plan announced in March Region Analysis.Brand Finance China 500 29Jing-Jin-Ji RegionLocated in Northern China,the Jing-Jin-Ji region comprises key cities like Beijing,Tianjin and Hebei.This year,the region was the largest contributor to the combined brand value of all brands listed in

125、 our rankings at 44%,with a total of 112 brands of the top 500 brands in China.In addition to being a principal transport hub for both local and global trade,it is also recognised as the nations most important economic and political region.Thus,many key government agencies and institutions are locat

126、ed here.Within the region,brands in the banking and E&C sectors contributed the most significantly to the regions brand value at 34%and 15%respectively.In particular,the banking sector performed exceptionally well with brands such as ICBC,China Construction Bank,Agricultural Bank of China and Bank o

127、f China delivering exceptional performances,placing 1st,3rd,5th and 8th in the nation respectively in terms of brand value.Major media brands such as Douyin and Baidu also originate here,granting the region a strong influence over Chinas media landscape.This year,the region celebrated its 9th annive

128、rsary of its commitment towards national coordinated development through the development of various infrastructure as well as the opening of a new expressway between Beijing and Xiongan New Area in Hebei Province.Regional leaders have hopes in the near future to both deepen and see a shift in cooper

129、ation focal areas from resolving pressing issues such as air pollution and traffic congestion to placing larger emphasis on increasing the regions competitive advantage and global significance.Region Analysis.Brand Finance China 500 30Region Analysis.Yangtze River DeltaThe Yangtze River Delta region

130、 in Eastern China encompasses Chinas largest city,Shanghai,Hangzhou and Nanjing.It has one of the highest population densities in the world.The region lies in the heart of the Jiangnan region and its prime location at the mouth of the Yangtze River gave rise to its importance as a transportation hub

131、.In 2023,107 brands in region contributed 15%to the total brand value of all brands listed in our rankings.The retail sector features most prominently within the region,contributing 28%to the regions brand value.Familiar brands such as Taobao and Tmall emerge as the top retail brands in China and ar

132、e also strong contenders within the global e-commerce space.With the shift in retail consumer preferences towards digitalisation,exacerbated by COVID-19,there is high potential for the growth of these brands.In addition,the presence of the Bank of Communications and the Shanghai Pudong Development B

133、ank is testament to the regions robust financial industry,with banking brands contributing 22%to the regions brand value.Strong performances were observed from both traditional banking brands and emerging fintech brands,as well as the well-renowned CPIC in Shanghai.In recent times,more emphasis has

134、been placed on the sustainable development and coordination of ecological protection within the region.This is evident through the approval of a territorial space plan,with the goal of having 21%and 12%of a 2,412 square kilometres demonstration zone being covered by water and forests respectively.Br

135、and Finance China 500 31Region Analysis.Greater Bay AreaThe Greater Bay Area(GBA)contributed 24%to the total brand value of all brands listed in our rankings and is the region with the most number of listed brands at 126.Among the four largest bay areas in the world,the GBA includes nine cities and

136、two administrative regions such as Guangzhou,Shenzhen,Hong Kong and Macau.The GBA achieved holistic development across the board,with strong performances and prominent brands observed across a variety of sectors.Contributing 22%to the regions brand value,the media sector includes internationally ren

137、owned brands like WeChat,the strongest brand among all 500 brands listed.Meanwhile,Huawei leads the technology sector to contribute 18%to the regions brand value,solidifying the regions identity as a centre for technology and innovation.The insurance and real estate sectors also demonstrated commend

138、able performance,with leading brands such as Ping An and Vanke helping their sectors each contribute 16%and 15%to the regions brand value respectively.Following the lifting of COVID-19 restrictions and resumption of travel,efforts have been made to further improve the connectivity and collaboration

139、within the GBA.This is evident through the proposed Jiangmen Smart Intercity Railway line,which also promotes low-carbon transportation as well as closer cooperation and communication among the cities leaders.Brand Finance China 500 32TaiwanTaiwan lies approximately 100 miles from the south-eastern

140、coast of the mainland and is separated from it by the Taiwan Strait.A total of 69 brands contributed 5%to the total brand value of all brands listed in our rankings this year.With 30 brands from the tech sector contributing 49%,close to half of the regions total brand value,it is evidently the domin

141、ant sector in the region.In particular,TSMC,one of the worlds largest semiconductor brands,performed remarkably well.It single-handedly contributed more than 20%of the regions brand value and placed 20th in our rankings.In addition,the brand also emerged 1st and 2nd place in the global Semiconductor

142、s 20 2023 rankings in terms of brand strength and brand value respectively.This stellar performance is attributed to the brands strong collaboration with customers,enabling 85%of global semiconductor start-up product prototypes.TSMCs strong commitment to the environment is also evident through its r

143、eceipt of“The Most Prestigious Sustainability Award”conferred by the Taiwan Institute for Sustainable Energy for six consecutive years.This aligns with Taiwans emphasis on sustainability,bolstered by the launch of the“Taiwan Nature Positive Initiative”in 2023 that guides businesses on prioritising b

144、iodiversity in their operations.As a region,Taiwan has also made significant progress in other social issues such as gender equality.This is observed through its contribution towards the“Action for Equality and Gender Multi-donor Cooperation Fund”as a founding donor as well as increasing female repr

145、esentation within its governance.Region Analysis.Brand Finance China 500 33Brand Value Ranking(USDm).Top 500 most valuable Chinese brands 1-502023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating110ICBCBeijing Banking 69,545-

146、7%75,119 AAAAAA+272TikTok/DouyinBeijing Media 65,696+11%58,980 AAA-AA+330China Construction BankBeijing Banking 62,681-4%65,547 AAAAAA462State GridBeijing Utilities 58,846-2%60,175 AAAAAA550Agricultural Bank Of ChinaBeijing Banking 57,691-7%62,031 AAA-AAA641WeChatGuangdong Media 50,247-19%62,303 AAA

147、+AAA+7132MoutaiGuizhouSpirits 49,743+16%42,905 AAA+AAA8102Bank of ChinaBeijing Banking 47,336-4%49,553 AAAAAA981Ping AnGuangdong Insurance 44,698-18%54,354 AA+AAA-1021HuaweiGuangdong Tech 44,292-38%71,233 AAA-AAA-11142China MobileBeijing Telecoms 43,382+6%40,903 AAA-AAA-12120TencentGuangdong Media 3

148、8,059-18%46,653 AAA-AAA-13172CSCECBeijing Engineering&Construction 31,897+16%27,386 AA+AA1491TaobaoZhejiangRetail 30,539-43%53,762 AA+AAA-15162WuliangyeSichuanSpirits 30,290+5%28,744 AAA+AAA16151PetroChinaBeijing Oil&Gas 29,647+0%29,656 AAAA17111TmallZhejiangRetail 27,429-44%49,182 AAAA+18192Sinopec

149、Beijing Oil&Gas 27,145+8%25,165 AA+AA+19202China Merchants BankGuangdong Banking 24,536+1%24,370 AA+AA+20232TSMCTaiwanTech 21,564+5%20,474 AA+AAA-21262CRECBeijing Engineering&Construction 19,776+8%18,232 AA+AA22242CRCCBeijing Engineering&Construction 19,024-3%19,687 AA+AA+23181JD.comBeijing Retail 1

150、8,960-30%27,153 AA+AAA-24272Bank of CommunicationsShanghai Banking 18,947+7%17,738 AAA-AAA-25211China LifeBeijing Insurance 17,885-25%23,885 AAA-AAA26251China TelecomBeijing Telecoms 17,780-3%18,374 AAA-AAA27282Postal Savings BankBeijing Banking 17,039+4%16,336 AAA-AAA-28292CPICShanghai Insurance 15

151、,163-4%15,769 AA+AAA-29322AIAHong KongInsurance 15,046+16%13,015 AAA-AAA-30-3CATLFujianTech 14,706-AA-31332VankeGuangdong Real Estate 13,222+2%12,977 AA+AA+32342China CITIC BankBeijing Banking 12,621-1%12,805 AA+AA+33372YiliNeimengguFood 12,405+17%10,594 AAA-AAA-34442PICCBeijing Insurance 11,759+22%

152、9,630 AAA-AAA-35452Power ChinaBeijing Engineering&Construction 11,202+22%9,163 AAAA36382Industrial BankFujianBanking 11,115+5%10,563 A+AA-37301Shanghai Pudong Development BankShanghai Banking 11,074-23%14,313 AA+AAA-38351NetEaseGuangdong Media 10,754-10%11,942 AAAA39390MideaGuangdong Tech 10,265-2%1

153、0,497 AA-AA40672BYDGuangdong Automobiles 10,081+57%6,414 AAAA41361MeituanBeijing Retail 10,036-16%11,880 AAAA+42221AZhejiangRetail 10,024-56%22,843 AA-AA+43401China Everbright BankBeijing Banking 9,931-3%10,221 AAAA+44502Prudential PlcHong KongInsurance 9,519+16%8,173 AA+AAA45-3CEECBeijing Engineeri

154、ng&Construction 9,107-AA-46311Country GardenGuangdong Real Estate 8,920-37%14,166 AAAA47482CNBMBeijing Engineering&Construction 8,913+7%8,300 AAAA-48522Longfor PropertiesBeijing Real Estate 8,423+4%8,105 AA+AA+49411PinduoduoShanghai Retail 8,381-16%9,936 A+A+50802Xinghuacun Fen WineShanxiSpirits 8,3

155、74+68%4,992 AA+A+Brand Finance China 500 34Brand Value Ranking.Top 500 most valuable Chinese brands 51-1002023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating51532SF ExpressGuangdong Logistics 8,241+3%8,005 AA+AA+52562MCCBei

156、jing Engineering&Construction 8,193+8%7,612 AAAA-53542Poly DevelopmentGuangdong Real Estate 8,170+4%7,852 AAAA-54511GreeGuangdong Tech 8,006-1%8,116 AAA-AA55632China Resources LandHong KongReal Estate 7,930+16%6,865 AAAA56612China Overseas Land&InvestmentHong KongReal Estate 7,927+10%7,231 A+AA-5755

157、1CCCCBeijing Engineering&Construction 7,860+3%7,649 AAAA58602Luzhou LaojiaoSichuanSpirits 7,744+7%7,266 AAA-AAA59581HaierShandongTech 7,729+5%7,393 AAAA-60431China Minsheng BankBeijing Banking 7,523-24%9,839 AAAA61421XiaomiBeijing Tech 7,422-25%9,931 AAAAA-62491GreenlandShanghai Real Estate 6,997-15

158、%8,240 AAA+63662YangheJiangsuSpirits 6,848+6%6,446 AAAA+64652HikvisionZhejiangTech 6,822+6%6,459 AAAA65471BaiduBeijing Media 6,656-21%8,380 AAA-AAA66591CRRCBeijing Engineering&Construction 6,539-11%7,318 AAAA67641LenovoBeijing Tech 6,400-2%6,526 AA-AA68571China PostBeijing Logistics 6,326-15%7,460 A

159、A-AA-69712HaitianGuangdong Food 6,235+8%5,783 AAAAAA70722MengniuNeimengguFood 6,095+10%5,533 AAA-AAA-71812Chow Tai FookHong KongApparel 5,975+20%4,959 AAAA72772GeelyZhejiangAutomobiles 5,802+11%5,232 AAAA-73752GoertekShandongTech 5,652+5%5,403 AAAA74701Fubon Financial HoldingsTaiwanInsurance 5,484-8

160、%5,939 AA+AA+75621CNOOCBeijing Oil&Gas 5,415-23%7,046 AA-AA76691HavalHebeiAutomobiles 5,343-12%6,081 AA+AA+77892ChunghwaTaiwanTelecoms 5,317+22%4,367 AAAAAA-78780CITIC SecuritiesGuangdong Banking 4,985-3%5,157 AA-AA79842Hua Xia BankBeijing Banking 4,686-1%4,747 AAAA80952Bank of JiangsuJiangsuBanking

161、 4,656+19%3,918 AA-AA-81681BOEBeijing Tech 4,617-28%6,377 AA-AA+82-3Jiangxi CopperJiangxiMining,Metals&Minerals 4,522-AA-83731Cathay Life InsuranceTaiwanInsurance 4,489-18%5,442 AAA-AA+841402GD Power DevelopmentBeijing Utilities 4,378+83%2,392 AAA-AA+85972China Guangfa BankGuangdong Banking 4,318+12

162、%3,867 A+A+86461China UnicomBeijing Telecoms 4,306-52%8,881 AA+AA+87902China Merchants ShekouGuangdong Real Estate 4,152-1%4,213 AA-A+88962Bank of NingboZhejiangBanking 4,147+7%3,880 A+AA-89-3Nongfu SpringZhejiangSoft Drinks 4,113-AAA-90791New China Life(NCL)Beijing Insurance 4,023-22%5,152 AA-AA911

163、132Gujing Gong JiuAnhuiSpirits 4,019+30%3,081 AAAA92861HaidilaoSichuanRestaurants 3,988-14%4,656 AAAAAA93871AntaFujianApparel 3,911-14%4,554 AAA-AAA-941082Bank of ShanghaiShanghai Banking 3,786+15%3,281 AA+AA+951022SinopharmBeijing Pharma 3,771+7%3,523 AAAA-96941MediatekTaiwanTech 3,713-7%3,992 AA+A

164、A+971302Huaneng Power InternationalBeijing Utilities 3,712+42%2,613 AAA+98931ToutiaoBeijing Media 3,671-10%4,059 AAAA-99-3SCRBGSichuanEngineering&Construction 3,670-AA-100821ConchAnhuiEngineering&Construction 3,661-26%4,946 AA-A+Brand Finance China 500 35Brand Value Ranking.Top 500 most valuable Chi

165、nese brands 101-1502023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating101831China TaipingHong KongInsurance1021042MTRHong KongLogistics103-3SungrowAnhuiUtilities1041011SnowBeijing Beers1051332Want WantTaiwanFood106911JD Log

166、isticsBeijing Logistics1071051Uni-PresidentTaiwanFood1081071Bank of BeijingBeijing Banking109-3LongiShaanxiUtilities110991T GroupShanghai Leisure&Tourism111981Techtronic IndustriesHong KongTech1121492Taiwan MobileTaiwanTelecoms1131101iQiyiBeijing Media1141001ZTEGuangdong Tech1151111PECHOINShanghai C

167、osmetics1161282China CindaBeijing Banking1171442China SouthernGuangdong Airlines118761YoukuBeijing Media1191061SAIC MotorShanghai Automobiles1201272BAOWUShanghai Mining,Metals&Minerals1211482China EasternShanghai Airlines1221292NIOShanghai Automobiles1231201China Zheshang BankZhejiangBanking1241462D

168、elta ElectronicsTaiwanTech1251151Hang Seng BankHong KongBanking1261241Ase TechnologyTaiwanTech1271382China ShenhuaBeijing Mining,Metals&Minerals1281652CNNCBeijing Engineering&Construction1291542New World DevelopmentHong KongReal Estate1301231Sun Hung Kai PropertiesHong KongReal Estate1311031Yonghui

169、SuperstoresFujianRetail1321311Great WallHebeiAutomobiles1331251Quanta ComputerTaiwanTech1341412Air ChinaBeijing Airlines1351161Bank of NanjingJiangsuBanking1361502ChintZhejiangTech1371452Rongsheng PetrochemicalZhejiangChemicals138-3TCL ZhonghuanTianjinUtilities1392002Datang PowerBeijing Utilities140

170、1782OnePlusGuangdong Tech1411221LufaxShanghai Tech1421391Yunda ExpressShanghai Logistics1431261CGNGuangdong Utilities144-3CNCECBeijing Engineering&Construction1451321Master KongTianjinFood1461091China Grand AutoLiaoningRetail1471592Guangzhou PharmaceuticalGuangdong Pharma1481722HuafaGuangdong Real E

171、state1491612ASUSTaiwanTech150921China ReBeijing InsuranceBrand Finance China 500 36Brand Value Ranking.Top 500 most valuable Chinese brands 151-2002023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating1511642Li NingBeijing App

172、arel1521211LI AUTOBeijing Automobiles153-3Shangri-LaHong KongHotels1542072TsingtaoShandongBeers1551982CTBC BankTaiwanBanking1561471Guotai Junan SecuritiesShanghai Banking1571992ShedeSichuanSpirits1581732ShinewayHenanFood1591181Haitong SecuritiesShanghai Banking160-3East MoneyShanghai Commercial Serv

173、ices1611511XpengGuangdong Automobiles1621581GreentownZhejiangReal Estate163-3SCEGCShaanxiEngineering&Construction1641832Swire PacificHong KongCommercial Services1651912HKEXHong KongExchanges1661191Shimao PropertyShanghai Real Estate1671521Pou ChenTaiwanApparel1681341Galaxy MacauMacauLeisure&Tourism1

174、691621ENNHebeiUtilities1701551Lao Feng XiangShanghai Apparel171-3Zijin MiningFujianMining,Metals&Minerals1721792illumaHong KongFood1731691HOTAI MOTORTaiwanRetail1741701Huatai SecuritiesJiangsuBanking1751952Bosideng PortfolioJiangsuApparel1762012RT MartTaiwanRetail177-3WeichaiShandongAuto Components1

175、781431CKHong KongReal Estate1791962Taiwan LifeTaiwanInsurance1801531SINOTRANSBeijing Logistics1811892HarbinHeilongjiangBeers1821371The Venetian MacaoMacauLeisure&Tourism1831121LoganGuangdong Real Estate1841840DianpingShanghai Media185-3ArawanaShanghai Food1861561Joy CityBeijing Real Estate1871751Cho

176、ngqing Rural Commercial BankChongqingBanking1881711CHINA TOWERBeijing Engineering&Construction1892272CICCBeijing Banking190881SuningJiangsuRetail1912362TBEAXinjiangTech1921421VIP.comGuangdong Retail1932132Bank of HangzhouZhejiangBanking1941921UMCTaiwanTech1951901Hengli PetrochemicalLiaoningChemicals

177、1961671ZTO ExpressShanghai Logistics1971941SongGuangdong Automobiles198741SunacTianjinReal Estate1992192GF SecuritiesGuangdong Banking2002152Huishang BankAnhuiBankingBrand Finance China 500 37Brand Value Ranking.Top 500 most valuable Chinese brands 201-2502023 Rank2022 RankBrandProvince/RegionSector

178、2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating2011861HascoShanghai Auto Components2022462China Galaxy SecuritiesBeijing Banking2031571BBMGBeijing Engineering&Construction204-3Longyuan PowerBeijing Utilities2051851FotonBeijing Automobiles2061971SHENWAN HONGYUANSh

179、anghai Banking207-3XCMGJiangsuEngineering&Construction2081761YY LiveGuangdong Media2091931COSCOBeijing Logistics2102091China Bohai BankTianjinBanking211-3SanyBeijing Engineering&Construction2122172WH GroupHong KongFood213-3Nan Ya PlasticsTaiwanChemicals214-3HanGuangdong Automobiles2152182DongfengHub

180、eiAutomobiles216-3JA SolarShanghai Utilities2172021Dalian Wanda Commercial PropertiesShandongReal Estate2181661HKTHong KongTelecoms2192141SJMMacauLeisure&Tourism2202101SPHShanghai Pharma2211681JinmaoHong KongReal Estate2222302YTO ExpressShanghai Logistics223-3EastrocGuangdong Soft Drinks2242382Brigh

181、t DairyShanghai Food2252572PegatronTaiwanTech226-3TranssionGuangdong Tech2272111Beijing-Shanghai High Speed rail wayBeijing Logistics2281871Kunlun EnergyHong KongOil&Gas229-3WingtechZhejiangTech2302332ChanganChongqingAutomobiles2312592Jiugui JiuHunanSpirits2322392WanhuaShandongChemicals2332291Cainia

182、oZhejiangLogistics2342672China SecuritiesBeijing Banking2352502XtepFujianApparel2362662YingjiaAnhuiSpirits2372622City of DreamsMacauLeisure&Tourism2381771WiwynnTaiwanTech2392762CHANDOShanghai Cosmetics2402231Bank Of ChangshaHunanBanking2412051Shenzhou InternationalZhejiangApparel2422221Shenzhen Over

183、seas China TownGuangdong Leisure&Tourism2432161China Merchants SecuritiesGuangdong Banking2442251FPCCTaiwanOil&Gas2452061Sino-OceanBeijing Real Estate2462031BiostimeGuangdong Food2471361R&FGuangdong Real Estate2482081WeiboBeijing Media2492321E.SUN BankTaiwanBanking2502582AviChinaBeijing Aerospace&De

184、fenceBrand Finance China 500 38Brand Value Ranking.Top 500 most valuable Chinese brands 251-3002023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating2512752Huadian Power InternationalShandongUtilities2522241TCL CSOTGuangdong T

185、ech2532952VindaGuangdong Household Products2542602Guangzhou Rural Commercial BankGuangdong Banking255-3SMICShanghai Tech2562261Wanda CinemasShandongLeisure&Tourism2572041Sands MacaoMacauLeisure&Tourism2582872GACGuangdong Automobiles2592201EVERGREENTaiwanLogistics2602341Hengyi PetrochemicalGuangxiChe

186、micals2612121China Yangtze PowerBeijing Utilities2622371Eternal AsiaGuangdong Commercial Services2632531Kerry LogisticsHong KongLogistics2641881FAW JiefangJilinAutomobiles2652281GemdaleGuangdong Real Estate2662882Space 7FujianHousehold Products2672772SemirZhejiangApparel268235137 GamesGuangdong Medi

187、a2691351Bilibili Shanghai Media2701741Lens TechnologyHunanTech2711601Agile PropertyGuangdong Real Estate2722641Far Eastone TelecommunicationsTaiwanTelecoms2732681GUOSEN SECURITIESGuangdong Banking2742481STO ExpressShanghai Logistics2752942Shanghai Rural Commercial BankShanghai Banking2762852ChangyuS

188、handongChampagne&Wine2772862Jiangsu Eastern ShenghongJiangsuChampagne&Wine2783022Bank of East AsiaHong KongBanking279-3ZoomlionHunanEngineering&Construction2802561MSITaiwanTech2812691Nan Shan Life insuranceTaiwanInsurance2822982MegaTaiwanBanking283-3TENCENT MUSI-ADRGuangdong Media2842902Bank of Chen

189、gduSichuanBanking2852211WpgTaiwanTech286-3InspurShandongTech2873142C&S PaperGuangdong Household Products2882912HengtongJiangsuTech2892551Orient SecuritiesShanghai Banking2902631SinotrukShandongAutomobiles2913072AECC Aviation PowerShaanxiAerospace&Defence2922791WulingGuangxiAutomobiles2933252Zhen Din

190、g TechnologyTaiwanTech2941631Happy ValleyGuangdong Leisure&Tourism2952541Crystal International GroupHong KongApparel296-3Town GasHong KongUtilities2972491Heilan HomeJiangsuRetail2983212New OrientalBeijing Commercial Services299-3AvaryGuangdong Tech3002731Henderson LandHong KongReal EstateBrand Finan

191、ce China 500 39Brand Value Ranking.Top 500 most valuable Chinese brands 301-3502023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating3012611SuporZhejiangTech3021801Chimei InnoluxTaiwanTech3032701JAC MotorsAnhuiAutomobiles30428

192、01RejoiceGuangdong Cosmetics3052891ClearShanghai Cosmetics306-3SunwodaGuangdong Tech3072311CLPHong KongUtilities308-3OOCLHong KongLogistics3093001SIPGShanghai Logistics3102721YutongHenanAutomobiles3112961Shenzhen AirlinesGuangdong Airlines3123332Cosl(China Oilfield Services Limited)HebeiOil&Gas31324

193、11Cmst DevelopmentTianjinLogistics3143041Bank Of ChongqingChongqingBanking3152811Cathay PacificHong KongAirlines3163011Yunnan BaiyaoYunnan Pharma317-33TREESFujianChemicals3183180Bank of ZhengzhouHenanBanking3193362Taiwan Cooperative BankTaiwanBanking3202971TaishinTaiwanBanking3212521Kuai ShouBeijing

194、 Media3223081WTTaiwanTech3232431AcerTaiwanTech3243282HundsunZhejiangTech3253322HearttexFujianHousehold Products3263061YoungorZhejiangApparel3272741Hainan AirlinesHainanAirlines3282931China South PublishingHunanMedia3294102Shanshan GroupZhejiangUtilities330-3SamsoniteZhejiangApparel3313422TangGuangdo

195、ng Automobiles3323342Luckin CoffeeBeijing Restaurants3334512SeresChongqingAutomobiles3343171Bank of TianjinTianjinBanking335851CFLDBeijing Real Estate336-3AnkerHunanTech3373702Dongfang ElectricSichuanTech3382711PERFECT WORLDBeijing Media3392781CRSCBeijing Logistics3403201SailunShandongTyres3413151Li

196、nglong TireShandongTyres3423351Tongkun GroupZhejiangChemicals3433472First Commercial BankTaiwanBanking3442401HuyaGuangdong Media3453872Yunnan YuntianhuaYunnan Chemicals3463512AdvantechTaiwanTech3473031HKBNHong KongTelecoms3482921Xiamen AirlinesFujianAirlines3492441AisinoBeijing Tech3502991Liuge Heta

197、oHebeiSoft DrinksBrand Finance China 500 40Brand Value Ranking.Top 500 most valuable Chinese brands 351-4002023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating3513922ZhujiangGuangdong Beers352-3BAIC BlueparkJiangsuAutomobile

198、s3533051AisidiGuangdong Tech3543091UnimicronTaiwanTech3552831RoeweShanghai Automobiles3563451CHT GamingZhejiangMedia357-3TIANNENGZhejiangAuto Components3583712PeacebirdZhejiangApparel3593291VitasoyHong KongSoft Drinks3603121ZTTJiangsuTech361-3YAND MINGTaiwanLogistics3623391HisenseShandongTech3633261

199、Jiangsu Phoenix Publishing&MediaJiangsuMedia3642841Au OptronicsTaiwanTech3653772Hengshui LaobaiganHebeiSpirits3663672Little SwanJiangsuTech3673131Joyson ElectronicZhejiangAuto Components3683461Beijing Rural Commercial BankBeijing Banking3693161KotexShanghai Household Products3703381Harbin BankHeilon

200、gjiangBanking3713491JinjiangShanghai Hotels3724142Hua Nan Commercial BankTaiwanBanking3733601Eva AirwaysTaiwanAirlines3744002Bank of QingdaoShandongBanking3753401Lite-On TechnologyTaiwanTech3763760VtechHong KongTech3773651The Plaza MacaoMacauLeisure&Tourism3783101HanlinGuangdong Tech3793912Huadong M

201、edicineZhejiangPharma380-3JCETJiangsuTech3813611China AirlinesTaiwanAirlines3823932AIERHunanHealthcare Facilities3834612Hua Nan Financial HoldingsTaiwanBanking3843371Xinfengming GroupZhejiangChemicals3853591Qingdao Rural Commercial BankShandongBanking3863541Cafe De CoralHong KongRestaurants3874012Sa

202、nan OptoelectronicsFujianTech388-3China Conch VentShanghai Champagne&Wine3893111YonyouBeijing Tech3903831Guangzhou Development GrpGuangdong Oil&Gas3912421GOMEBeijing Retail3923551DJIGuangdong Tech3933411QisdaTaiwanTech3944292SD-GoldShandongMining,Metals&Minerals395-3Blue MoonGuangdong Household Prod

203、ucts3963641TCL ElectronicsGuangdong Tech3973621Guangzhou PortGuangdong Logistics3983481Bank SinopacTaiwanBanking3994082361 degreesFujianApparel4003851StarworldMacauLeisure&TourismBrand Finance China 500 41Brand Value Ranking.Top 500 most valuable Chinese brands 401-4502023 Rank2022 RankBrandProvince

204、/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating4013781Window to the WorldGuangdong Leisure&Tourism4023191Digital ChinaHong KongTech4033891QinGuangdong Automobiles4043681YulonTaiwanAutomobiles4051811Times ChinaGuangdong Real Estate4063311Bank Of Guiya

205、ngGuizhouBanking4074132Kerry PropertiesHong KongReal Estate4084442Wing Lung BankHong KongBanking4093661Shengjing BankLiaoningBanking410-3RealtekTaiwanTech4112651The Parisian MacaoMacauLeisure&Tourism4123981RobamZhejiangTech4134222The Shanghai Commercial&Savings BankTaiwanBanking4144031Juneyao Airlin

206、esShanghai Airlines4154792OraHebeiAutomobiles4164212Accton TechnologyTaiwanTech4173231Everbright SecuritiesShanghai Banking4183631Hongkong LandHong KongReal Estate4193531Largan PrecisionTaiwanTech4203441YanjingBeijing Beers4212821China ComserviceBeijing Tech4223581Kingboard LaminatesHong KongTech423

207、4812Zhejiang WanmaZhejiangTech424-3Formosa PlasticsTaiwanChemicals4253731Chinese Universe Publishing and MediaJiangxiMedia4264462WalsinTaiwanTech427-3WusuXinjiangBeers4284472Bank of TaiwanTaiwanBanking4293791Link ReitHong KongReal Estate4303501WEYHebeiAutomobiles4313571AutohomeBeijing Retail432-3CDI

208、BTaiwanBanking4334161RisunBeijing Chemicals4344091Fosun PharmaShanghai Pharma4353811Johnson ElectricHong KongTech4363751Beijing SinnetBeijing Tech4374021SedrinFujianBeers4384181KingfaGuangdong Chemicals4393431Wan Hai LinesTaiwanLogistics4404592Hang Lung PropertiesHong KongReal Estate4414151Nan Ya Pr

209、inted Circuit BoardTaiwanTech4423861SPILTaiwanTech443-3Luxi Chemical GroupShandongChemicals4443221KonkaGuangdong Tech4454722Bank of SuzhouZhejiangBanking4464381Southern Publishing&MediaGuangdong Media4474301Bank Of GuizhouGuizhouBanking4484231Bank of DongguanGuangdong Banking4494061China FoodsBeijin

210、g Food4504071WHARF REAL ESTATE INVESTMENTHong KongReal EstateBrand Finance China 500 42Brand Value Ranking.Top 500 most valuable Chinese brands 451-5002023 Rank2022 RankBrandProvince/RegionSector2023 Brand ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating4514361T STARTaiwanTe

211、lecoms4523241Travelsky TechBeijing Tech4534351Anhui Xinhua MediaAnhuiMedia4543561AAC TechnologiesGuangdong Tech455-3E InkTaiwanTech4564560Spring AirlinesShanghai Airlines4574121SugonTianjinTech458-3TumiShanghai Apparel4594331Tsinghua TongfangBeijing Tech4603991CSPC PharmaHebeiPharma4613971Simplo Tec

212、hnologyTaiwanTech4624111Xiabu XiabuBeijing Restaurants4634762Loncin MotorChongqingAutomobiles4643841Asm Pacific TechnologyHong KongTech4654702Zhonghuan ElectronicsTianjinTech4664261Swire PropertiesHong KongReal Estate4674051Cathay United BankTaiwanBanking4684481Taiwan Business BankTaiwanBanking46949

213、02Changshu Rural Commercial BankJiangsuBanking4704171JI HotelShanghai Hotels4715002Union Bank of TaiwanTaiwanBanking4724521Land Bank of TaiwanTaiwanBanking4733801China Film GroupBeijing Media4744932Narada PowerZhejiangTech4754581Huarong Xiangjiang BankHunanBanking4764201Cts International LogisticsSh

214、anghai Logistics4774491NeusoftLiaoningTech4784401FiberHomeHubeiTech4794912Studio CityMacauLeisure&Tourism4804191Chang Hwa BankTaiwanBanking4813961Xiang Piao PiaoZhejiangSoft Drinks482-3Sentury TireShandongTyres4834391CYTSBeijing Leisure&Tourism484-3JoyoungShandongTech4854041Hanting HotelShanghai Hot

215、els4862511MomoBeijing Media4873691WasuBeijing Media4884661Bank of JinzhouLiaoningBanking4894741Shenzhen Kaifa TechnologyGuangdong Tech4904871NetvigatorHong KongTelecoms4913821Tsim Sha Tsui PropertiesHong KongReal Estate492-3PIEN TZE HUANGFujianPharma4934371GigabyteTaiwanTech494-3Ningbo TuopuZhejiang

216、Auto Components4954992Songcheng Performance DevelopmentZhejiangLeisure&Tourism4964621Jiangxi BankJiangxiBanking4974801999Guangdong Pharma498-3Lizhong Sitong LightHebeiAuto Components4994861Shanghai AirlinesShanghai Airlines5003301Foxconn TechnologyTaiwanTechSustainability.Brand Finance China 500 44S

217、ustainability Perception Values(SPV).Sustainability Perception Values(SPV)F65.15$4,606 mH74.67$4,503 mg84.13$4,055 mg9$4,044 m5.02t10$3,726 m4.13x16.27$8,421 mL35.64$7,374 mg4$5,024 m4.71g5$4,770 m4.03x24.55$8,000 m Brand Finance Plc 2023Top Sustainability Perceptions Score and Value for 2023As part

218、 of its analysis,Brand Finance assesses the role that specific brand attributes play in driving overall brand value.One such attribute growing rapidly in significance is sustainability.Brand Finance assesses how sustainable specific brands are perceived to be,represented by a Sustainability Percepti

219、ons Score(SPS).The value that is linked to this score,the Sustainability Perceptions Value(SPV),is then calculated for each brand.WeChat has the highest Sustainability Perceptions Score and ValueMedia giant WeChat has both the highest SPS(6.27 out of 10)and SPV($8.4 billion)of any brand included in

220、our rankings this year.WeChats top position in both sustainability rankings is related to positive stakeholder perceptions of its brand,showing that consumers have confidence in WeChats sustainability commitments.In recent years the brands parent company,Tencent,has begun to better communicate its E

221、SG initiatives and progress to stakeholders,the success of which could be reflected in WeChats high score for sustainability perceptions.Tencent has continued to pursue its“Tech for Good”vision in which it has emphasised ESG goals.Tencent has also pledged to be carbon neutral in its operations by 20

222、30,by which point it plans to be powered by 100%green energy.Although Tencent has demonstrated commitment to sustainability,WeChats own communication of its sustainability initiatives and goals are limited.Brand Finances research revealed that respondents in certain regions,notably Asia,seem to high

223、ly regard societal value and impact of businesses when considering sustainability.WeChats strong SPS,along with its resultant high SPV,could be attributed in part to Chinese respondents associating sustainability with the strong societal value that WeChat has to them and China on a larger scale.We s

224、uggest potential value should WeChat further explore the sources of its high sustainability perception amongst consumers in greater detail,which would then allow the brand to further leverage these nuances through increased communication with stakeholders on ESG topics.Brand Finance China 500 45Anot

225、her Chinese giant to perform well in terms of both SPS and SPV was State Grid.The state-owned utilities brand has taken steps towards a more sustainable future in which it will focus on green and low-carbon economic and social development.This has likely contributed to its SPS of 5.64 out of 10 and

226、SPV of$7.4 billion.Because of the size and scope of State Grids operations,it has a pivotal role in enabling the energy transition in Chinas utilities sector.The brand is achieving this through investment in clean energy infrastructure.For example,State Grid has commissioned four pumped-storage hydr

227、opower stations and plans to begin work on five more.The brand has also developed solar,wind and hydropower capacity on a large scale as an important fulcrum to serve the energy transformation.This provides strong power support for Chinas Qinghai province in building an important new clean energy in

228、dustry base.Similar to WeChat,State Grids sustainability perceptions performance might have been also aided by its centrality to Chinas economy and resultant high associated perception to societal value that the brand holds with stakeholders.JD Logistics is another noteworthy brand that has contribu

229、ted towards facilitating the energy transition and lowering the logistics sectors traditionally high emissions.To achieve this,the brand has launched two programs:the Green Stream Initiative and Recycling Program.Thousands of products now come in reusable packaging and JD Logistics aims to make 100%

230、of its logistics packaging recyclable and reusable.These initiatives have helped reduce waste and emissions while promoting sustainable consumption practices among consumers.They have also likely contributed to JD Logistics SPS of 5.51 out of 10 which ranks among the top 10 in China.Similarly,appare

231、l brand Li Ning is looking to leverage its sustainability communication to stakeholders and counter the scrutiny that the retail sector has at times been placed under in relation to“fast fashion”and poor working conditions.The brand has also taken measures throughout its entire value chain to ensure

232、 that it operates sustainably.These include installing solar panels on some of its largest buildings,providing employees with diversified learning and training opportunities,closely regulating carbon footprint accounting on suppliers and contributing to sustainable infrastructure and education in th

233、e communities in which it operates.Li Nings successful communication of its ESG efforts to all stakeholders has helped it build a strong SPS of 5.5 out of 10.As the brand looks towards exploration of more sustainable practices,there lies much potential for it to augment sustainability perceptions am

234、ong consumers.Fellow apparel brand Bosideng has also taken definitive steps towards sustainability.By ensuring that 100%of the brands down apparel is Responsible Down Standard(RDS)certified,Bosideng is tackling a key issue facing the sector.The brand has subsequently received international recogniti

235、on for its strong commitment and long-term investment in sustainability.In 2023,Morgan Stanley Capital International(MSCI)raised Bosidengs ESG rating from BBB to A.The brand also submitted its first-ever Carbon Disclosure Project(CDP)report and received a B-score.Both achievements position Bosideng

236、as an ESG frontrunner in Chinas textiles and apparel industry.Furthermore,Bosideng has become the first branded apparel brand in the Asia Pacific region to be awarded a dual investment grade credit rating by Moodys and S&P Global Ratings attesting to Bosidengs commitment towards sustainable developm

237、ent within the industry.Sustainability Perception Values(SPV).Brand Spotlights.Brand Finance China 500 47PICC.t Rank Brand Strength Rank Brand ValueUSD11.8 bn+22.1%34284.1+0.3142Brand Finance China 500 48PICC is committed to improving its brand image and telling a good brand story.It strives to beco

238、me a leading and world-class comprehensive insurance and finance brand with a unique and rich character,distinct and holistic organisational structure and effective and systemic governance to continuously deliver prominent value.PICC actively promotes ESG development and has been awarded a BBB ratin

239、g by MSCI for two consecutive years,ranking at the forefront of the domestic financial industry.PICC practises the idea of green development through energy transformation,promoting pollution and carbon reduction while building a green investment system to help realise Chinas“dual carbon”goal.In 2022

240、,PICC provided risk protection of 2.14 trillion yuan($309.6 billion)for various clean energy sources such as wind power,photovoltaic,hydropower and nuclear power to advance clean energy insurance.PICC also optimised the“pollution prevention and insurance claims”service model of environmental liabili

241、ty insurance,innovated carbon sink insurance products and launched the nations first“carbon capture”and“carbon quota”insurance.In 2022,green insurance products provided a total of 68 trillion yuan($9.84 trillion)in risk protection.Through PICCs strong promotion of the excellent insurance strategy,co

242、pious efforts in advancing various innovations and strategic services,continued optimisation of business infrastructure and strengthened comprehensive risk prevention and control,the brand achieved good performance with steady progress.In 2022,PICCs insurance business revenue was 625.8 billion yuan(

243、$90.54 billion),a year-on-year increase of 6.9%.The net profit attributable to PICCs parent company was 24.4 billion yuan($3.53 billion),a year-on-year increase of 12.8%and the growth rate of net profit exceeded the growth rate of premium income for two consecutive years.PICC.Brand Finance China 500

244、 49Bosideng.d Rank Brand Strength Rank Brand ValueUSD1.9 bn+12.4%175277.4+2.9672Brand Finance China 500 50factories as well as tracking the carbon footprint of its products and monitoring greenhouse gases produced.Additionally,Bosideng achieved an A rating in MSCIs ESG rating and a B-score in its fi

245、rst CDP submission.Through these activities,Bosideng aims to be a role model for textile and apparel brands.Bosideng has seven of the largest and most technologically advanced down apparel production bases in China and has opened more than 4,000 retail outlets.It has made positive contributions to t

246、he development of Chinas high-end textile and down apparel industry,with its main product having been in the Chinese market for 28 consecutive years(1995-2022).The brand also leads in both domestic and international sales volume in terms of scale and capacity.In 2022,its comprehensive market share w

247、ill reach 24.11%and its market sales share will reach 51.61%.The brand ranks among the top 500 private enterprises in Chinas manufacturing industry and the top 500 private enterprises in China.Bosideng is a world-renowned down apparel brand which places utmost priority on its brand image and steadfa

248、stly implements its brand development strategy.Through Bosidengs brand-led development model,formed through the continuous shaping,cultivation,promotion and innovation of its brand,it has become a well-known and leading Chinese down jacket brand.Bosideng is committed to becoming the preferred down j

249、acket brand amongst global consumers,realising its brand building goal of“Worlds down jacket,China Bosideng”.As a caring and responsible corporate citizen,Bosideng adheres to its mission of“warming the world”,integrating the fulfilment of its responsibilities towards employees,partners,society,the e

250、nvironment and other stakeholders into its corporate strategy and development.Bosideng actively explores and practises green development and sustainable fashion through its initiatives in carbon reduction,such as achieving carbon-neutral forestry and“near zero-carbon”Bosideng.Brand Finance China 500

251、 51Yili.o Rank Brand Strength Rank Brand ValueUSD12.4 bn+17.1%33281.9-0.5250Brand Finance China 500 52Yili ranks among the top five in the global dairy industry and has been ranked first in the Asian dairy industry for nine consecutive years.It is also the largest dairy company in China with the mos

252、t comprehensive product categories.With the best product quality,leading integrated service and sustainable development capabilities,Yili has always been trusted and recognised at the worlds top events and competitions.The brand is also a leading household name to governments and people from all wal

253、ks of life.Yili actively promotes ESG development,with the outcomes of its sustainable development practices in terms of economy,society and environment recognised on several occasions.These include distinctions awarded by the Chinese Academy of Social Sciences such as a“5-Star+”rating,the highest r

254、ating in the industry,by the academys China Corporate Social Responsibility Report Rating Expert Committee for three consecutive times and clinching top position within the dairy industry in the academys China Corporate Social Responsibility Development Index for five consecutive years.Yili also ran

255、ked first in the inaugural release of the Hurun China Top 100 Private Enterprises for Sustainable Development report by the Hurun Research Institute and had the honour of being the only dairy brand featured in Forbes Chinas 2022 China ESG 50 list.Yili has always adhered to a consumer-centric approac

256、h,leveraging diversified and new healthy consumption trends.It comprehensively deploys new technologies,categories and channels in continuing to cultivate the growth potential of its high-quality products in order to provide consumers with nutritious and healthy products.In 2022,Yili achieved a tota

257、l operating revenue of 123.17 billion yuan($17.82 billion),an increase of 11.37%year-on-year and a net profit of 9.43 billion yuan($1.36 billion)attributable to its parent company,which translates to an increase of 8.34%year-on-year.Yili.Brand Finance China 500 53Sinopec.z Rank Brand Strength Rank B

258、rand ValueUSD27.1 bn+7.9%18277.2+0.5741Brand Finance China 500 54Sinopec is the largest oil and petrochemical products supplier and the second largest oil and gas producer in China.It is also the largest refining company and the second largest chemical company in the world.Over the past 40 years sin

259、ce its establishment,Sinopec has always placed important emphasis on brand-building,vigorously carrying out its brand promise of“clean energy and beautiful life”as it plans to promote the brand from every aspect and make every effort to build a world-famous Chinese brand.According to Brand Finances

260、Global 500 2023 report,Sinopec ranks 68th in the world with a brand value of$27.15 billion.As an integrated energy and chemical company and a leader in the United Nations Global Compact,Sinopec integrates ESG into its development strategy and production management refining a number of governance sys

261、tems,constructing and operating the worlds largest number of hydrogenation stations,completing and putting into production the worlds first million-tonne CCUS project,ensuring optimal supplies of petroleum and petrochemical products,empowering the Beijing Winter Olympic and Paralympic Games,continuo

262、usly carrying out social welfare projects such as“Sinopec Lifeline Express”and“Love Station”and crossing new frontiers in its endeavours.Sinopec is firmly committed to its new mission of“building Sinopec into a company that strategically supports the country,guarantees the livelihood of the people,a

263、nd spiritually appeals to the masses”fully leveraging integration,market,brand,technology and talents in the whole industry ecosystem.It will aim to become a world-leading energy and chemical brand that constantly meets the growing needs of a people striving towards a better life.This mission will d

264、rive the company towards becoming an important force in supporting Chinas development and highlights Sinopecs responsibility of being a vital national pillar.Sinopec.Global Soft Power Index.Brand Finance China 500 56China saw an overall increase of 0.8 points in its Global Soft Power Index performan

265、ce and now ranks 2nd in Asia and 5th globally.Over the years,China has been leveraging its soft power,an essential part of its foreign policy,in its exchanges with other countries and cultures.The nation brand has made efforts in the aspects of cultural exchanges,media,education and diplomacy to boo

266、st its reputation and global perception evident through its improvement in Reputation score.China remains the most influential nation brand in Asia although its Influence score declined by 0.2 points.This can be attributed to its strong cultural heritage,one of its most powerful soft power assets.Be

267、stowed with a rich and diverse cultural history,China has been able to influence neighbouring countries through the diffusion of its cultural elements,such as food,art,music,literature and philosophy to other parts of the world.The global recognition and familiarity that China commands on these aspe

268、cts has allowed the nation brand to boost its soft power and standing as a world leader in the cultural scene.The exchange and diffusion of culture is further advanced by Chinas Belt and Road Initiative,its promotion of Red Tourism and protection of cultural relics.With a global shift towards the pr

269、ioritisation and commemoration of ones cultural tradition and roots,Chinas historical and cultural influence internationally is likely to remain strong in the future.Chinas strong influence is also evident in its diplomacy,with a 1-place improvement in rank to 4th position for the“influential in dip

270、lomatic circles”metric.This is supported by the diplomatic ties and pacts established with nation brands in the region to facilitate trade,participating in areas such as infrastructural development of these nation brands.An example is the Rubber-Rice Pact between China and Sri Lanka,which marked the

271、 beginning of bilateral trade between the two countries.The Pact celebrated its 70th anniversary last year.Another means by which China extends its influence is attributed to the nation brands growing digital and media presence,with locally developed social media platforms such as WeChat and TikTok

272、gaining traction and popularity beyond Chinas borders.The widespread use of such platforms allows China an opportunity to establish itself as a leading player in the digital economy,participating in global conversations in the digital landscape and curating a consistent narrative for its global user

273、s.With that said,Chinas growing influence and power in this space has led to increased scrutiny from external parties,citing security concerns,especially about data collection.Thus,while China is on track to continue growing its influence in the digital space,it would be prudent for the nation brand

274、 to also continue ensuring proper governance of this influence.Scott ChenManaging Director,Brand Finance ChinaChinaRank#5 1#4Score 65.0/100+0.8Brand Finance China 500 57One of Chinas main strategies to boost its soft power has been through knowledge and education,evident through the nation brands in

275、vestments in developing Confucius Institutes around the globe.This helps to increase awareness and understanding of the Chinese language and culture,facilitating the widespread diffusion of Chinese values and way of life.This prioritisation of knowledge transfer is supported by its strong efforts in

276、 innovation and research,placing it in the top three overall for the Education&Science pillar.More specifically on the science front,China came in 2nd in“leader in technology and innovation”,3rd in“leader in science”and 3rd in“invests in space exploration”.These impressive results bear testament to

277、Chinas robust and continually developing space program,augmented with the completion of the three-module Tiangong space station in November 2022 and further establishing itself as one of the powers in the space industry.With such stellar performances to date,China should keep up the momentum of esta

278、blishing itself as a hub for knowledge accumulation and instruction,reaching out to new markets to market and deliver its new discoveries.Despite the lockdown during the COVID-19 pandemic,China retained top positions in the“easy to do business with”and“future growth potential”metrics,attesting to it

279、s economic and trade vibrancy.This could be due to the nation brands continued economic growth and prosperity,its dexterity in entering and thriving in global markets and establishing itself as a leader in various industries.Chinas strong economic performance has also lent impetus for other nation b

280、rands to boost bilateral ties with the nation brand and enhance trade collaboration.For example,Chinas Free Trade Agreement with Singapore expanded in April this year to incorporate six more areas,ranging from food safety to biodiversity conservation.Also,following Malaysian Prime Minister Anwars vi

281、sit to China in March,stronger collaboration between the two nation brands have been established through the signing of 19 agreements across a diverse range of sectors in the hopes of boosting bilateral investments.Considering that China is now reopening its economy and easing restrictions after tra

282、nsiting from its zero-COVID stance,the nation brand can expect to see an increase in frequency of international cooperation,likely translating into further improvements in metrics within the Business&Trade pillar.With regards to the Sustainability pillar introduced in our Global Soft Power Index 202

283、3 report China placed within the top 25 nation brands at 23rd position,with its best performance reflected in a 15th place ranking for“sustainable cities and transport”specifically.For example,green development is encouraged under the Belt and Road Initiative,advocating investments in green energy,f

284、inance,transport and technology,just to name a few.Companies in China are also encouraged to develop multimodal transport and utilise electricity in overseas railways instead,further boosting the nation brands efforts to go green.As with Chinas strong performance in research and development aforemen

285、tioned,we would expect to see the nation brands strong performance for this pillar in the years to come.ChinaRank#5 1#4Score 65.0/100+0.8Brand Finance China 500 58Score 74.8+4.1The worlds top 50 Soft Power nations,scored out of 10010UNITED STATES20UNITED KINGDOMScore 67.3+2.430GERMANYScore 65.8+1.25

286、2JAPANScore 65.2+1.741CHINAScore 65.0+0.860FRANCEScore 62.4+1.870CANADAScore 60.7+1.280SWITZERLANDScore 58.5+2.0102Score 56.6+1.8152UNITED ARAB EMIRATESScore 55.2+3.2142SWEDENScore 55.1+2.8111SPAINScore 54.9+1.891RUSSIAScore 54.8-1.3131AUSTRALIAScore 54.6+1.9121SOUTH KOREAScore 53.9+1.0160NETHERLAND

287、SScore 53.7+3.1170NORWAYScore 52.6+2.9180DENMARKScore 51.8+3.0242SAUDI ARABIAScore 51.3+4.1191BELGIUMScore 51.2+2.8201SINGAPOREScore 51.0+2.6252FINLANDScore 50.7+3.5221TRKIYEScore 50.4+2.6262QATARScore 49.9+4.1272AUSTRIAScore 49.9+6.5ITALY 23456789101112131415161718192021222324251 Brand Finance Plc

288、2023Global Soft Power Index 2023.Brand Finance China 500 59Global Soft Power Index 2023.211NEW ZEALANDScore 49.8+1.4231ISRAELScore 48.4+0.9292INDIAScore 47.0+3.8302IRELANDScore 46.7+4.8322PORTUGALScore 46.6+5.6281BRAZILScore 46.2+2.9412LUXEMBOURGScore 45.3+7.7402POLANDScore 45.1+6.9372ICELANDScore 4

289、4.7+6.2362KUWAITScore 44.3+5.2331GREECEScore 44.3+3.9512UKRAINEScore 44.3+10.1311EGYPTScore 43.0+1.5390MALAYSIAScore 42.6+4.1341SOUTH AFRICAScore 42.5+2.3351THAILANDScore 42.4+2.2381ARGENTINAScore 42.2+3.7442CZECHIAScore 42.0+6.7421MEXICOScore 41.0+3.4472INDONESIAScore 40.9+6.2492OMANScore 40.7+6.14

290、31CROATIAScore 40.7+5.3451HUNGARYScore 40.5+5.3572GEORGIAScore 40.0+6.6682BAHRAINScore 40.0+8.0 26272829303132333435363738394041424344454647484950 Brand Finance Plc 2023Methodology.Brand Finance China 500 61Enterprise ValueBranded Business ValueBrand ContributionDefinitions.MetaFacebookFacebookFaceb

291、ookBrand Value+Enterprise Value The value of the entire enterprise,made up of multiple branded businesses.Where a company has a purely mono-branded architecture,the enterprise value is the same as branded business value.+Branded Business Value The value of a single branded business operating under t

292、he subject brand.A brand should be viewed in the context of the business in which it operates.Brand Finance always conducts a branded business valuation as part of any brand valuation.We evaluate the full brand value chain in order to understand the links between marketing investment,brand-tracking

293、data,and stakeholder behaviour.+Brand Contribution The overall uplift in shareholder value that the business derives from owning the brand rather than operating a generic brand.The brand values contained in our league tables are those of the potentially transferable brand assets only,making brand co

294、ntribution a wider concept.An assessment of overall brand contribution to a business provides additional insights to help optimise performance.+Brand Value The value of the trade mark and associated marketing IP within the branded business.Brand Finance helped to craft the internationally recognised

295、 standard on Brand Valuation ISO 10668.It defines brand as a marketing-related intangible asset including,but not limited to,names,terms,signs,symbols,logos,and designs,intended to identify goods,services or entities,creating distinctive images and associations in the minds of stakeholders,thereby g

296、enerating economic benefits.Brand ValueBrand Finance China 500 62Brand Valuation Methodology.1324Definition of BrandBrand is defined as a bundle of trademarks and associated IP which can be used to take advantage of the perceptions of all stakeholders to provide a variety of economic benefits to the

297、 entity.Brand ValueBrand value refers to the present value of earnings specifically related to brand reputation.Organisations own and control these earnings by owning trademark rights.All brand valuation methodologies are essentially trying to identify this,although the approach and assumptions diff

298、er.As a result published brand values can be different.These differences are similar to the way equity analysts provide business valuations that are different to one another.The only way you find out the“real”value is by looking at what people really pay.As a result,Brand Finance always incorporates

299、 a review of what users of brands actually pay for the use of brands in the form of brand royalty agreements,which are found in more or less every sector in the world.This is sometimes known as the“Royalty Relief”methodology and is by far the most widely used approach for brand valuations since it i

300、s grounded in reality.It is the basis for a public rankings but we always augment it with a real understanding of peoples perceptions and their effects on demand from our database of market research on over 3000 brands in over 30 markets.DisclaimerBrand Finance has produced this study with an indepe

301、ndent and unbiased analysis.The values derived and opinions produced in this study are based only on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear.Brand Finance accepts no responsibility and will not be liable in the event tha

302、t the publicly available information relied upon is subsequently found to be inaccurate.The opinions and financial analysis expressed in the report are not to be construed as providing investment or business advice.Brand Finance does not intend the report to be relied upon for any reason and exclude

303、s all liability to any body,government or organisation.We review what brands already pay in royalty agreements.This is augmented by an analysis of how brands impact profitability in the sector versus generic brands.This results in a range of possible royalties that could be charged in the sector for

304、 brands(for example a range of 0%to 2%of revenue)The BSI score is applied to the royalty range to arrive at a royalty rate.For example,if the royalty range in a sector is 0-5%and a brand has a BSI score of 80 out of 100,then an appropriate royalty rate for the use of this brand in the given sector w

305、ill be 4%.We adjust the rate higher or lower for brands by analysing Brand Strength.We analyse brand strength by looking at three core pillars:“Inputs”which are activities supporting the future strength of the brand;“Equity”which are real current perceptions sourced from our market research and othe

306、r data partners;“Output”which are brand-related performance measures such as market share.Each brand is assigned a Brand Strength Index(BSI)score out of 100,which feeds into the brand value calculation.Based on the score,each brand is assigned a corresponding Brand Rating up to AAA+in a format simil

307、ar to a credit rating.We determine brand-specific revenues as a proportion of parent company revenues attributable to the brand in question and forecast those revenues by analysing historic revenues,equity analyst forecasts,and economic growth rates.We then apply the royalty rate to the forecast rev

308、enues to derive brand revenues and apply the relevant valuation assumptions to arrive at a discounted,post-tax present value which equals the brand value.Brand ImpactBrand Impact Brand StrengthBrand StrengthForecast Brand Value CalculationBrand Finance China 500 63Brand StrengthAnalytical rigour and

309、 transparency are at the heart of our approach to brand measurement at Brand Finance.Therefore,in order to adequately understand the strength of brands we conduct a structured,quantitative review of data that reflect the Brand Value Chain of brand-building activities,leading to brand awareness,perce

310、ptions and onwards to brand-influenced customer behaviour.To manage the Brand Value Chain process effectively we create and use the“Brand Strength Index”(BSI).This index is essentially a modified Balanced Scorecard split between the three core pillars of the Brand Value Chain:Brand Inputs,Brand Equi

311、ty and Brand Performance.Brand Strength IndexWidely recognised factors deployed by marketers to create brand loyalty and market share.Perceptions of the brand among different stakeholder groups,with customers being the most important.Quantitative market and financial measures representing the succes

312、s of the brand in achieving price and volume premium.Stakeholder EquityBusiness PerformanceMarketing InvestmentBrand Strength.132Although we follow a general structure incorporating the three pillars(Brand Inputs,Brand Equity and Brand Performance),the attributes included are different depending on

313、the sector.A brand strength index for a luxury apparel brand will differ in structure from an index designed for a telecommunications brand.An index for luxury apparel brand may emphasize the exclusiveness,word of mouth recommendation,and price premium,whereas an index for a telecommunications compa

314、ny may emphasis customer service and ARPU as important metrics.These attributes are weighted according to their perceived importance in driving the following pillar:Brand Investment measures in driving Brand Equity;Brand Equity measures for Brand-Related Business Performance measures;and finally the

315、 relevance of Brand-Related Business Performance measures for driving business value.Attribute Selection and WeightingBrands ability to influence purchase depends primarily on peoples perceptions.Therefore,the majority of the Brand Strength Index is derived from Brand Finances proprietary Global Bra

316、nd Equity Research Monitor research,a quantitative study of a sample of over 100,000 people from the general public on their perceptions of over 4,000 brands in over 25 sectors and 37 countries.However,at Brand Finance we also believe that there are other measures that can be used to fill gaps that

317、survey research may not capture.These include total investment levels for example in marketing,R&D,innovation expenditure,that can a better guide to future performance than surveys.They also include online measures such as ratings by review sites and social media engagement that can give a more gran

318、ular understanding of marketing effectiveness.Finally they also include real behaviour for example net additions,customer churn and market share,to overcome the tendency for surveys to incorporate intended behaviour rather than real.Over a period of 3 to 4 months each year,we collect all this data a

319、cross all the brands in our study in order to accurately measure their comparative strength.Data CollectionIn order to convert raw data in to scores out of 10 that are comparable between attributes within the scorecard,we then have to benchmark each attribute.We do this by reviewing the distribution

320、 of the underlying data and creating a floor and ceiling based on that distribution.Each brand is assigned a Brand Strength Index(BSI)score out of 100,which feeds into the brand value calculation.Based on the score,each brand is assigned a corresponding rating up to AAA+in a format similar to a cred

321、it rating.Analysing the three brand strength measures helps inform managers of a brands potential for future success.Benchmarking and Final ScoringBrand Finance China 500 64Global Brand Equity Monitor.Original market research in 38 countries and across 31 sectors with over 150,000 consumers rating o

322、ver 5,000 brands.Brand KPIs and Diagnostics1.Brand Funnel2.Brand Usage3.Quality4.Reputation5.Loyalty6.Closeness9.Brand Imagery7.Recommendation(NPS)10.Advertising Awareness8.Word of Mouth11.Brand MomentumAwarenessHave heard of your brandFamiliarityKnow something about your brandConsiderationWould con

323、sider buying/using your brandApparelAutomobilesLuxury AutomobilesBanksCosmetics&Personal CareFoodInsuranceOil&GasRestaurantsRetail&E-CommerceTelecomsUtilitiesAirlinesLuxury ApparelAppliancesBeersLuxury CosmeticsGeneral RetailHealthcare ServicesHotelsHousehold ProductsLogisticsMediaPharmaReal EstateS

324、oft DrinksSpirits&WineTechnologyTyresTier 1Tier 2Brand Finance China 500 65Highlights from the Global Brand Equity Monitor.Brand Finances proprietary market research provides a robust assessment of brand health on key equity measures,allowing comparison both within and across product and service cat

325、egories.Benchmarking against brands outside your sector is especially helpful in assessing the real strength of brand not just the best of a bad bunch in a category where brands are generally weaker.What makes a brand great?Amazon is undoubtedly one of the worlds strongest brands,one of just a handf

326、ul achieving the highest AAA+rating.It has an extremely strong brand funnel,with near-universal familiarity,and consideration,and while its reputation score is not best-in-class,it is stronger than many of its critics might think.Every strong brand has its own winning formula,and our research highli

327、ghts Amazons particular advantages.Top of that list is the outstanding value which shoppers believe Amazon delivers.Amazon ranks on this measure in big markets such as Brazil,USA,UK,and is#1 among retailers in many more.Value has always been a big driver of consumer behaviour,but Amazon also deliver

328、s a slick shopping experience(“excellent website/apps”),and this powerful combination is irresistible for many consumers,even those who question Amazons values and broader corporate reputation.Does brand purpose deliver?Argument rages among CMOs and marketing gurus over this issue.The jury is out ou

329、r data suggests that being seen to“care about the wider community”does correlate somewhat with higher Consideration levels,and is an asset particularly for local favourites such as Jio(India)or Bunnings(Australia).But brands like McDonalds and Nike(as well as Amazon)are liked and desired despite som

330、ewhat moderate reputations on sustainability and values.Whos the coolest cat?In categories like apparel,tech and automotive,sustainability can make you cool,but its not the only way.Porsche wins relatively few plaudits for sustainability,but its bercoolness is very apparent.Great value for moneyExce

331、llent website/apps 55 11 81 61Selected Rankings for Amazon All Non-Luxury Brands Brand Finance Plc 202343%Care about the wider community(Rank#1)88%Consideration Conversion 8%Care about the wider community(Rank#86)92%Consideration Conversion Brand Finance China 500 66Highlights from the Global Brand

332、Equity Monitor.Similarly in the apparel category(especially footwear),the correlation between coolness and sustainability is not especially high.Meanwhile in France,the epitome of chic,the 2nd-highest highest scorer among non-luxury brands is.Burger King.Get your brand talked-aboutCool brands get ta

333、lked about,and word-of-mouth(WOM)is another key asset some brands possess.It has proven impact on brand growth,hence WOMs inclusion in our Brand Strength Index model.In an absolute sense,big brands get talked about a lot more than small ones their sheer mass presence and relevance ensures that.But deeper analysis reveals a number of challenger brands who look set to profit from above-expectation W