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1、China Banking MarketingResearch2023November 2023Brand Finance China Banking Marketing Research 2Contents.2023 All rights reserved.Brand Finance Plc.About Brand Finance3Background5Executive Summary6Market Research Insights7B2C 7 Which banking brands are effectively building saliency 8 and converting

2、to usage?Which brands are building desired key associations around 11 products and services,innovation,and availability?How important is strong consideration,and what associations 15 help to drive it?Are brands creating a distinctive position within the market?18 ESG Environment,Social and Governanc

3、e 19 B2B 20Which banking brands are effectively building saliency 21 and converting to usage?Which brands are building desired key associations around 25 reputation,affinity,relevance and price premium?How important is strong consideration,and what associations 27 help to drive it?Are brands creatin

4、g a distinctive position within the market?29 ESG Environment,Social and Governance 30Our Services32Brand Finance China Banking Marketing Research 3About Brand Finance.Brand Finance is the worlds leading brand valuation consultancy.We bridge the gap between marketing and financeBrand Finance was set

5、 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 test ever

6、y 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.We pride o

7、urselves 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 internationally recogni

8、sed 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 enquiries,please

9、contact:Scott ChenManaging Director,China+86 For all other enquiries:+44 207 389 For media enquiries,please contact:Martin ShiManaging Director Assistant,CBrand Finance China Banking Marketing Research 4Brand Finance InstituteBrand Finance Institute is the educational division of Brand Finance,whose

10、 purpose is to create and foster a professional 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

11、 equip the brand valuation and strategy 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

12、 of current and historical brand values,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 com

13、pare brand values across countries,sectors,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 t

14、hat drives brand value.Brand Dialogue 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

15、).Brand Dialogue manages communications 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 b

16、rand management that results in tangible benefits for your business.BBrand Finance China Banking Marketing Research 5Background.In an era defined by globalization,digitization,and smart technologies,businesses face a crucial need for adaptation.Agile brand strategies,continuous metrics,and cutting-e

17、dge research are imperative to anticipate customer needs in a dynamic landscape.This has never been more pertinent than in recent years in which the global economy has confronted significant challenges,including the Covid-19 pandemic,geopolitical unrest,credit issues,and severe global inflation.The

18、Chinese economy is beginning to show signs of recovery,with a strong rebound in the service sector,high export growth,and a positive trend in GDP growth.Large enterprises,including the banks featured in this report,have tended to show more robust signs of recovery than small and medium-sized enterpr

19、ises(SMEs).Despite recent challenges,when looking at an extended timeframe,a remarkable ascent is observed in Chinese banking brands.According to Brand Finances Banking 500 Report,released in early 2023,76 of the worlds 500 most valuable banking brands are Chinese,almost doubling from 41 a decade ag

20、o.This surge extends not only in quantity but also in value,reflecting a Compound Annual Growth Rate of 15%.This China Banking Brand Market Research Report exclusively examines the Chinese banking industry,featuring recent market research conducted in September and October 2023.The report underscore

21、s the strength of large state-owned banks in Chinas banking market.However,it also highlights a fiercely competitive landscape,in which commercial banks are increasingly challenging their state-owned counterparts across a number of key metrics.For example,commercial banks have fostered a stronger se

22、nse of differentiation and are more likely to be perceived as genuinely offering something different to customers.They also score particularly well in innovation metrics as well as excelling in providing high-quality websites and apps to their customers.The growing success of commercial banks has be

23、en guided by financial technology development plans,through which banks are looking to pioneer within the market.This involves keenly focusing on integrating financial services,business operations,and digital technology to create a seamless and innovative banking experience.Additionally,banks have a

24、dopted fission marketing,an approach that blends traditional in-store promotions with contemporary methods such as relationship marketing,showcasing their commitment to innovative and dynamic marketing practices.ESG concerns are also now central to Chinese banks strategies,aligning with the 20th Par

25、ty Congress report explicitly supporting green consumption.Chinas banking industry now actively guides green consumer behaviours,promoting a comprehensive transformation towards green and low-carbon consumption.With the domestic economy poised for a steady recovery,anticipated enhancements in busine

26、ss operations could alleviate pressure within the banking sector.This scenario creates exciting opportunities for Chinese banks to elevate brand value as a strategic asset and further reinforce their market positions.Brand Finance China Banking Marketing Research 6Innovation thrives amongst Chinese

27、commercial banks,but state-owned banks continue to dominate Chinas banking market.+Chinese state-owned banks dominate in both B2C and B2B markets,enjoying high familiarity and awareness +Highly competitive Chinese banking landscape is fostering healthy differentiation among commercial banks,particul

28、arly in retail banking +Banks increasingly looking to actively engage more diverse demographics through promotional activities and events +China Merchants Bank and China CITIC Bank lead B2C market innovation,showcasing market-leading capabilities+Non-Chinese banks excel in offering a competitive B2B

29、 price premium,China CITIC Bank leads for China commercial banks,highlighting high perceived value of services to customers +Conveniently located ATMs&branches is the key driver of consideration in B2C market,while valuing relationships with businesses is top for B2B +Environmental,Social,and Govern

30、ance(ESG)initiatives continue to play a pivotal role in Chinese banks brand strategies and communication Market Research Insights:B2C.Brand Finance China Banking Marketing Research 8Which banking brands are effectively building saliency and converting to usage?The big four banks in China,namely ICBC

31、,Agricultural Bank of China,Bank of China,and China Construction Bank,continue to boast remarkably high levels of awareness and familiarity within the B2C market in China.They have not only upheld their dominant positions but have also proactively enhanced their brand saliency.Postal Savings Bank al

32、so performs well,matching ICBCs awareness level of 90%.These banks have implemented various initiatives to solidify their leading positions in familiarity and awareness.For instance,China Construction Bank launched the Entrepreneur Harbor program.This offers services through a one-stop financial mod

33、el to support new urban residents,especially those aspiring to become entrepreneurs in overcoming the challenges they face when managing their businesses.Through initiatives such as this,banks can increase both their saliency and awareness by appealing to a wider demographic of consumers.Market Resu

34、lts:Familiarity Brand Finance Plc 2023 Awareness FamiliarityICBCPostal Savings BankChina Construction BankAgricultural Bank Of ChinaBank of ChinaChina Merchants BankBank of CommunicationsChina CITIC BankChina Minsheng BankPing An BankShanghai Pudong Development BankChina Everbright BankIndustrial Ba

35、nkChina Guangfa BankHua Xia BankHSBCStandard Chartered90%90%89%89%88%84%82%80%77%77%73%71%71%71%69%67%50%72%71%73%73%72%60%57%50%46%47%43%43%41%43%36%36%27%Brand Finance China Banking Marketing Research 9Market Results:Brand Communication&Promotion Awareness Brand Finance Plc 2023Which banking brand

36、s are effectively building saliency and converting to usage?China Construction BankChina Merchants BankAgricultural Bank Of ChinaICBCPostal Savings BankBank of ChinaPing An BankShanghai Pudong Development BankBank of CommunicationsChina CITIC BankChina Guangfa BankIndustrial BankChina Minsheng BankH

37、ua Xia BankChina Everbright BankStandard CharteredHSBC67%66%66%65%65%65%62%62%61%60%60%58%57%55%54%54%53%A high score in brand communication and promotion awareness signifies a brands campaigns profound and lasting impacts.Among the top 3 brands with superior campaign recall are China Construction B

38、ank,China Merchants Bank,and Agricultural Bank of China.Other banking brands are also adopting innovative strategies to enhance their brand positioning and approachability,recognizing the need to make a mark in a competitive market.China Merchants Bank,for example,has looked to bridge the gap betwee

39、n financial institutions and the younger generation through innovative experiments and the creation of brand intellectual properties(IP).It partnered with the well-known domestic coffee unicorn,Manner,for a co-branded card collection.Additionally,its cartoon character,Little Fortune Kitty,is feature

40、d in 1,800 branches across 44 cities,significantly increasing brand exposure.The banks high score for brand communication and promotion awareness(66%)is reflective of the success of campaigns such as these targeted at the younger generations.As of October 2023,a collaboration between China CITIC Ban

41、k and prominent figures has garnered an impressive 190 million views on Weibo.This complemented last years brand upgrade and refresh,along with the widespread dissemination of the slogan Let Wealth Have Warmth,and the conveyance of the promotional message CITIC Bank,a warm bank,markedly enhancing CI

42、TICs brand image and relatability.It has also embraced Fission marketing,leveraging social networks and interpersonal communication to promote their services.While China CITIC Bank currently holds a middle position in brand communication and promotion awareness(62%),its use of influencer and fission

43、 marketing is creating a more engaging and interactive experience for the audience.This not only grabs attention but also motivates potential customers to delve deeper into the brand,ultimately enhancing brand recognition.Brand Finance China Banking Marketing Research 10Which banking brands are effe

44、ctively building saliency and converting to usage?Brand Finances research also explored the relationship that individuals have with various banking brands they were familiar with.The well-established and largest brands,namely China Construction Bank,Agricultural Bank of China,ICBC,Bank of China and

45、Postal Savings Bank,boast a substantial and loyal customer base,giving them a clear advantage in terms of current users.These banks exhibit a large positive net score when assessing current customers minus lapsed customers,highlighting their ability to minimise customer turnover and fulfil customer

46、needs.Among the second tier of retail banking brands,China Merchants Bank stands out with relatively high scores in terms of current users.Market Results:Usage Brand Finance Plc 2023Net Score China Construction BankAgricultural Bank Of ChinaICBCPostal Savings BankBank of ChinaChina Merchants BankBan

47、k of CommunicationsShanghai Pudong Development BankChina Everbright BankPing An BankChina CITIC BankChina Guangfa BankChina Minsheng BankIndustrial BankHua Xia BankStandard CharteredHSBC50%7%16%50%8%14%45%9%17%43%11%18%28%16%17%27%14%17%20%15%15%17%16%13%17%14%15%14%16%13%14%14%16%13%16%14%13%16%12%

48、11%14%11%8%14%5%8%19%9%52%7%13%35%35%27%25%11%10%5%5%1%1%-2%0%1%0%3%0%39%Lapsed users Never used Current usersBrand Finance China Banking Marketing Research 11Which brands are building desired key associations around products and services,innovation,and availability?China Merchants Bank continues it

49、s strong performance in the B2C market,leading in innovation.The Bank has demonstrated product innovation by launching low-carbon credit cards aimed at promoting environmentally conscious consumption among customers.With over 180,000 cards issued,this initiative encourages customers to align their v

50、alues with environmental protection and social responsibility while satisfying their individual needs.China CITIC Bank has increased investments in scientific and technological resources,reflected in its high scores in the innovation metric.With nearly CNY9 billion invested in information technology

51、 throughout last year,China CITIC Bank tripled its scientific and technological personnel to 4,762 over four years.This has supported agile management transformation,early adoption of cutting-edge technologies,heightened efforts in securing scientific and technological patents,and the continuous dev

52、elopment of industry-leading data capabilities.This includes establishing a big data center and introducing high-value platforms like Tian Yuan Treasurer and Kunpeng System(a new generation of personal credit system group)laying the foundation for the construction of Digital CITIC Base.China CITIC B

53、ank also excels in product innovation,with the establishment of 55 Happiness+branches in China,enhancing services for senior citizens.As part of this,China CITIC Bank has implemented diverse initiatives for elderly customers,including traditional Chinese medicine healthcare,retirement financial educ

54、ation,and protection against financial fraud.It also offers retirement planning services.As of September 2023,its Happiness+pension financial service has reached 22.9 million people.Meanwhile,Ping An Bank,and Shanghai Pudong Development Bank both perform well in the Genuinely offer something differe

55、nt metric.Ping An Bank has collaborated with the China Academy of Information and Communications Technology,co-hosting the 2023 China Internet of Things Financial Development Conference.This showcased its digital technology innovations,particularly the Galaxy Plan,which has linked over 20 million Io

56、T devices in areas such as smart manufacturing,green energy,and rural revitalization,effectively addressing the financing needs of SMEs.Shanghai Pudong Development Bank has shown innovation in its consumer offerings,particularly through the development of customer engagement via retail digitalizatio

57、n 3.0.Theyve implemented an AI+human collaborative service,which has led to the establishment of a closed-loop marketing model that integrates online and offline channels.Brand Finance China Banking Marketing Research 12China Merchants BankChina CITIC BankChina Minsheng BankShanghai Pudong Developme

58、nt BankPing An BankHua Xia BankBank of ChinaBank of CommunicationsAgricultural Bank Of ChinaChina Construction BankChina Guangfa BankPostal Savings BankIndustrial BankChina Everbright BankICBC Innovative Genuinely offer something different25%19%23%21%23%22%23%25%23%26%22%21%21%20%21%18%18%18%18%23%1

59、8%21%17%21%16%19%14%24%14%20%Which brands are building desired key associations around products and services,innovation,and availability?Brand Image Innovation&Genuinely offer something different Brand Finance Plc 2023Brand Finance China Banking Marketing Research 13The major Chinese banks,comprisin

60、g the Big 4 and Postal Savings Bank,earned top ratings for their broad accessibility thanks to their extensive branch networks.Amongst the commercial banks,China CITIC Bank scored top for being widely assessable.On the other hand,when it comes to assessing the excellence of websites and apps,China G

61、uangfa Bank takes the lead.China CITIC Bank also performed well for its website and apps.The bank has established a connection with Baidus Wen Xin Yi Yan to leverage Baidus cutting-edge Artificial Intelligence technology in the wealth management sector.This aims to enhance the customer experience by

62、 providing more professional,user-friendly,and intelligent wealth management services.Furthermore,China CITIC Bank has successfully revamped and upgraded its online platforms,including Industrial Inclusive Finance and Industrial Butler.This effort has led to a consistent rise in both brand customers

63、 and monthly active users,underlining its commitment to technological innovation and engaging with customers.Which brands are building desired key associations around products and services,innovation,and availability?Brand Finance China Banking Marketing Research 14Which brands are building desired

64、key associations around products and services,innovation,and availability?Postal Savings BankICBCChina Construction BankBank of ChinaAgricultural Bank Of ChinaChina CITIC BankChina Everbright BankChina Minsheng BankShanghai Pudong Development BankBank of CommunicationsChina Merchants BankIndustrial

65、BankChina Guangfa BankPing An BankHua Xia BankWidely available Excellent website&apps34%34%33%32%31%28%27%27%26%25%23%22%21%21%20%13%17%19%20%20%19%20%16%14%18%13%19%21%14%16%Brand Image Widely available&Excellent website&apps Brand Finance Plc 2023Brand Finance China Banking Marketing Research 15Ho

66、w important is strong consideration,and what associations help to drive it?Analysing a brands ability to shift from consideration to actual usage provides valuable insights.At the most comprehensive level of consideration,which includes even the faintest inclinations like might consider,brands again

67、 naturally sort themselves into the three distinct,well-established tiers,with the large banks towards the top.The high scores of the well-established state-owned banks signify a strong consumer intention to purchase or engage with their offerings and the banks capacity to persuade customers to go f

68、rom considering to taking action.Other banks who are currently not performing quite to the level of the larger banks for the Consideration Conversion to Usage have,however,demonstrated active efforts to further increase scores in this.China CITIC Bank,for example,which currently ranks in the mid-tie

69、r for both,carry out three major special actions to enhance customer satisfaction in these fields.These focus on service improvement,cash services,and inclusive convenience,including dedicated services for elderly customers and enhancing cash-related services.Additionally,CITIC Bank prioritizes secu

70、rity measures,incorporating new technologies to protect customers accounts and funds.China CITIC has also extended financial services,educating the public on financial knowledge and promoting awareness of various policies.Moreover,CITIC Bank has established mechanisms for handling special cases and

71、responding promptly to customer needs,further enhancing customer satisfaction.When looking at what drives consumers to engage with banks within the B2C market,conveniently located ATMs&Branches and Excellent Website&Apps stand out as the top drivers of consideration.Being Trustworthy follows in clos

72、e third.Brand Finance China Banking Marketing Research 16Market Results:Consideration Conversion to Usage Brand Finance Plc 2023How important is strong consideration,and what associations help to drive it?China Construction BankAgricultural Bank Of ChinaICBCPostal Savings BankBank of ChinaBank of Co

73、mmunicationsChina Merchants BankShanghai Pudong Development BankStandard CharteredPing An BankChina CITIC BankChina Guangfa BankChina Everbright BankChina Minsheng BankHua Xia BankIndustrial BankHSBC75%72%71%66%61%52%50%45%44%40%39%38%37%37%36%36%28%Current User/(Might consider+Definitely consider+P

74、referred brand)Standard CharteredHSBC76%69%Postal Savings BankAgricultural Bank Of ChinaChina Construction BankPing An BankChina Merchants BankICBCBank of CommunicationsChina Guangfa BankShanghai Pudong Development BankBank of ChinaChina Minsheng BankChina CITIC BankHua Xia BankIndustrial BankChina

75、Everbright Bank100%100%100%97%94%94%93%90%89%87%87%85%81%80%77%Current User/(Definitely consider+Preferred brand)Brand Finance China Banking Marketing Research 17Market Results:Drivers of consideration Brand Finance Plc 2023Top 3 Drivers Brand Finance Plc 2023Conveniently located ATMs and BranchesEx

76、cellent website&apps Trustworthy Great value for moneyOffers fair rates and feesKeeps customers data completely secureEasy to deal with Widely available Great customer service This brand supports causes that I care aboutPuts their customers firstOpen and honest Genuinely offer something different Go

77、od range of products to choose from Innovative Avoids/reduces negative effects of its operations Modern#1 Conveniently located ATMsand Branches#3 Trustworthy#2 Excellent website&appsHow important is strong consideration,and what associations help to drive it?Brand Finance China Banking Marketing Res

78、earch 18Are brands creating a distinctive position within the market?Market Results:Brand Perception Correspondence Analysis Brand Finance Plc 2023Brand Finance employs correspondence analysis to gain insights into the associations that specific brands are most strongly connected to in comparison to

79、 their competitors.In the B2C market,the findings indicate that state-owned banks excel in convenient access to ATMs and branches and widely available,underscoring their widespread branch networks and availability.Customer perceptions also highlight that commercial banks are more likely to be linked

80、 with attributes such as genuinely offer something different,good range of product,and this brand supports causes that I care about.China CITIC Bank and Shanghai Pudong Development Bank are also closely linked with the innovation indicator and puts their customer first.Brand Finance China Banking Ma

81、rketing Research 19ESG Environment,Social and Governance ESG Environment,Social and Governance Brand Finance Plc 2023Major financial institutions,in their role as banks,acknowledge the significance of contributing to environmental sustainability,tackling climate change,and effectively communicating

82、their ESG initiatives to stakeholders.All major banks within China are now looking to increase their ESG credentials.For example,China Construction Bank(CCB)strategically allocates resources and targets crucial areas in the national economy.In Q1 2022,CCB increased loans for affordable rental housin

83、g and related projects by over 21 billion CNY,totaling over 88 billion CNY.CCB also facilitated over 11 million payments,exceeding 110 billion CNY,benefiting more than 125,500 unit users,particularly migrant workers.China CITIC Bank issued its“Low-Carbon Wealth Card”and created the first personal ca

84、rbon account CITIC Carbon Account in the industry.It was selected for multiple honors,including the Ecological Brand Development Report(2022),the International Financial Forum(IFF)Global Green Finance Award for Innovation,and the 18th China Public Relations Industry Best Case Awards(CIPRA Awards)for

85、 Environmental Protection and Green Communication.BrandEnvironmentSocialGovernanceStandard Chartered73%66%70%Postal Savings Bank71%71%70%Bank of China71%72%69%China Construction Bank71%72%67%ICBC69%69%70%Agricultural Bank Of China69%74%73%China Minsheng Bank69%59%67%China CITIC Bank68%64%63%Industri

86、al Bank67%69%63%China Guangfa Bank65%59%58%Ping An Bank64%64%60%China Merchants Bank63%65%64%Shanghai Pudong Development Bank63%59%60%Hua Xia Bank62%64%59%Bank of Communications60%58%60%HSBC59%59%58%China Everbright Bank57%59%66%Market Research Insights:B2B.Brand Finance China Banking Marketing Rese

87、arch 21Market Results:Familiarity Brand Finance Plc 2023 Awareness FamiliarityWhich banking brands are effectively building saliency and converting to usage?Bank of ChinaChina Construction BankICBCAgricultural Bank Of ChinaBank of CommunicationsPostal Savings BankChina Merchants BankChina Minsheng B

88、ankShanghai Pudong Development BankPing An BankIndustrial BankChina Guangfa BankChina Everbright BankChina CITIC BankHua Xia BankHSBCHang Seng BankCitibankStandard CharteredBank of East AsiaUBSDeutsche BankJ.P.MorganMorgan StanleyBarclays Bank100%100%100%99%99%98%95%92%90%90%89%88%88%81%79%65%62%58%

89、51%49%30%28%24%24%21%95%91%94%85%66%84%65%55%42%37%36%34%44%33%27%16%4%12%4%14%4%9%4%10%2%When looking at the Chinese B2B banking market,one noteworthy strategy embraced by leading banks to build saliency and convert this to usage is active involvement in high-profile events and promotional activiti

90、es.For instance,ICBCs sponsorship of the 31st World University Summer Games in 2023 served as a prime example of associating the brand with a global stage.Agricultural Bank of China,on the other hand,embarked on a 2022 digital Everywhere campaign,linking accessibility claims to major calendar events

91、 on popular social media channels.This multifaceted approach effectively solidified its brands presence and accessibility,two critical factors in converting brand recognition into usage.Brand Finance China Banking Marketing Research 22Market Results:Brand Communication&Promotion Awareness Brand Fina

92、nce Plc 2023ICBCBank of ChinaChina Construction BankAgricultural Bank Of ChinaChina Merchants BankPostal Savings BankBank of CommunicationsChina Everbright BankIndustrial BankPing An BankShanghai Pudong Development BankChina Minsheng BankChina CITIC BankChina Guangfa BankHua Xia BankHSBCCitibankMorg

93、an StanleyBarclays BankBank of East AsiaStandard CharteredHang Seng BankDeutsche BankJ.P.MorganUBS53%52%44%38%33%32%29%27%22%21%19%18%18%18%15%14%13%13%13%11%11%9%8%8%5%Which banking brands are effectively building saliency and converting to usage?The success of big four banks in this field is highl

94、ighted through their high levels of awareness for their brand communication and promotion activities within the B2B market.All rank in the top four for this metric with ICBC(53%)and Bank of China(52%)coming out on top.HSBC stands out as the top-performing non-Chinese bank in the Chinese market in te

95、rms of familiarity and brand communication&promotion awareness.However,it still trails behind all Mainland-Chinese banks in both metrics.Several other major non-Chinese banks also follow HSBC,underscoring the prevailing dominance and preference for domestic banking brands in the B2B market in China.

96、HSBCs higher levels of familiarity and brand communication&promotion awareness can be linked to its active support for the Greater Bay Areas cross-border e-commerce industry.Its e-HSBC service simplifies cross-border collections for mainland Chinese businesses engaged in overseas e-commerce trade,pr

97、oviding efficient and transparent fund transfers,and boosting HSBCs market reputation.Brand Finance China Banking Marketing Research 23Which banking brands are effectively building saliency and converting to usage?The research found ICBC,Bank of China,and China Construction Bank,boast a substantial

98、and loyal customer base and are the only banks with a positive net usage score when considering the number of current customers minus lapsed customers.This demonstrates their ability to minimise customer churn and meet the evolving needs of their clientele.Market Results:Usage Brand Finance Plc 2023

99、26%20%0%-5%-6%-15%-11%5%-12%-8%-11%-15%-18%-16%3%3%-7%-21%-15%-12%-3%29%26%19%28%19%30%21%36%29%38%29%35%36%42%32%36%40%17%61%34%44%30%48%31%48%35%46%37%44%34%48%12%73%12%74%20%67%34%53%28%59%24%64%13%78%55%54%50%36%33%29%26%24%22%22%22%21%19%19%18%15%15%13%13%13%12%9%Net Score ICBCBank of ChinaChin

100、a Construction BankAgricultural Bank Of ChinaChina Merchants BankBank of CommunicationsPostal Savings BankBank of East AsiaChina Guangfa BankPing An BankIndustrial BankShanghai Pudong Development BankChina CITIC BankChina Everbright BankChina Minsheng BankUBSCitibankStandard CharteredHua Xia BankHSB

101、CHang Seng BankJ.P.Morgan Lapsed users Never used Current usersBrand Finance China Banking Marketing Research 24Which banking brands are effectively building saliency and converting to usage?Bank of ChinaICBCChina Construction BankCitibankAgricultural Bank Of ChinaBank of CommunicationsChina Merchan

102、ts BankJ.P.MorganShanghai Pudong Development BankStandard CharteredPing An BankPostal Savings BankHSBCChina CITIC BankChina Minsheng BankChina Guangfa BankBank of East AsiaHang Seng BankHua Xia BankIndustrial BankBarclays BankChina Everbright BankDeutsche BankUBSMorgan Stanley3.83.73.73.53.43.43.43.

103、33.23.23.23.23.23.23.13.13.13.13.03.03.02.92.92.72.7For the big 4 banks,the competitive advantage of having a higher score in usage metrics is reinforced by their higher scores in perceived product and service quality.These positive evaluations extend to advantageous associations,as customers view t

104、op banks as the best-equipped to fulfil their needs,admire them for their services,and hold them in high regard with an excellent reputation.In a world marked by uncertainty,the stability and seeming permanency of these long-standing institutions resonate with customers,especially as many maintain a

105、 cautious approach during the post-pandemic recovery period.However,its worth noting that among the other banks,there is not a significant differentiation in these key metrics related to quality and assurance.This presents an opportunity for established brands looking to challenge the status quo and

106、 distinguish themselves from the rest of the pack.Significant efforts are underway in areas such as digital transformation,and product innovation.For example,China CITIC Bank prioritized strengthening its financial network security,earning prestigious titles like Financial Network Security Laborator

107、y Establishment Unit and Pioneer Institution for the Evaluation of Financial Network Security Capability Level in April 2023.Initiatives such as this signify an exciting push for differentiation and innovation in the sector,potentially paving the way for new leaders to emerge.Market Results:Quality-

108、Average score out of 5 Brand Finance Plc 2023Brand Finance China Banking Marketing Research 25In the realm of reputation,affinity,and relevance,the dominance of the big four banks persists as a prevailing theme within the B2B market.These prominent institutions continue to lead the way,consistently

109、achieving high scores,among those who are familiar with their brands,in all three metrics.While the big four banks maintain their strong positions,there are noteworthy high-scoring performers among other banks as well.Postal Saving Bank,with a notable score of 7.3 for meets my needs,and Citibank,ear

110、ning a commendable 7.1 for Excellent reputation,also exhibit robust performances.Postal Savings Bank was the highest bank across the three metrics outside of the big 4.The Banks ESG initiatives such as the China Rural Development Foundation for the You Ai Public Welfare Fund,has likely contributed t

111、o these high scores.By March 2023,the fund had raised over CNY50 million.This money has funded You Ai Self-Improvement Classes in 44 high schools,benefiting 8,500+students.This showcases the banks dedication to social responsibility,enhances its ESG performance,and promotes social and environmental

112、sustainability,while boosting its reputation.Citibank and Standard Chartered emerge as top performers among non-Chinese banks,excelling in the category of excellent reputation,even outperforming several domestic banks.In 2018,Standard Chartered made a significant impact by introducing the Standard C

113、hartered Shanghai 10K,marking the debut of the Standard Chartered races in mainland China.This renowned running event has a global legacy dating back to 1982 and has been hosted in numerous countries and regions across four continents.This successful initiative within China by a non-Chinese bank ser

114、ves as a testament to the Banks commitment to the market,thereby boosting its reputation in China.While not reaching the same scale as some of the major banking giants,China CITIC Bank maintains a solid reputation compared to some of its key competitors,which include PingAn,Minsheng,and Industrial B

115、ank.Several factors contribute to this positive reputation,such as its commitment to trustworthiness,a strong focus on nurturing robust business relationships,a specialisation in corporate banking,and a dedicated pursuit of modernisation.In terms of modernity,China CITIC Bank has launched a number o

116、f product innovations that have likely contributed to bolstering its reputation as a modern bank.These include the Gathering Entrepreneurs Club,launched in October 2021.This serves as a financial and non-financial service program of individual+family+enterprise that provides comprehensive,personalis

117、ed,and scarce services for entrepreneurs.In recognition of this,CITIC received the Bankers Banker Financial Innovation Excellence Institution award for the second time in 2023.Such accolades serve as a testament to CITICs commitment to modernity and contribute to enhancing the banks reputation withi

118、n the competitive market.In terms of price premium,non-Chinese banks take the lead in the ranking.Nevertheless,China CITIC Bank stands out among its commercial bank counterparts for this metric.China CITICs strong performance for price premium showcases the strong levels of perceived value and trust

119、 that the bank has established in the minds of its customers.This reflects the perceived quality of CITICs services and loyalty of its customers.Which brands are building desired key associations around reputation,affinity,relevance and price premium?Brand Finance China Banking Marketing Research 26

120、Which brands are building desired key associations around reputation,affinity,relevance and price premium?Market Results:Reputation,Affinity,Relevance Brand Finance Plc 2023BrandExcellent ReputationBrand I admire Meets my needsPrice PremiumBank of China7.98.07.927%ICBC7.87.87.820%China Construction

121、Bank7.67.87.718%Agricultural Bank Of China7.47.37.56%Postal Savings Bank7.27.17.36%Citibank7.16.66.867%Shanghai Pudong Development Bank7.06.97.112%China Merchants Bank6.97.07.010%Standard Chartered6.96.56.864%Bank of Communications6.87.07.116%HSBC6.76.56.650%China Guangfa Bank6.76.77.011%China CITIC

122、 Bank6.66.56.714%Hang Seng Bank6.56.26.435%Ping An Bank6.46.77.04%China Everbright Bank6.46.46.63%Hua Xia Bank6.46.46.613%China Minsheng Bank6.46.46.68%Industrial Bank6.26.36.614%Brand Finance China Banking Marketing Research 27How important is strong consideration,and what associations help to driv

123、e it?When evaluating a brands transition from consideration to actual usage in the B2B market,brands naturally categorize themselves into three well-established tiers,even at the most comprehensive level of consideration,including faint inclinations like might consider.However,as the focus is shifte

124、d towards a more robust level of consideration,particularly concerning preferred brand or would definitely consider,a more delicate balance in the conversion potential becomes apparent.This prompts a critical question:what underlying service perceptions drive this heightened level of consideration?M

125、arket Results:Consideration Conversion to Usage Brand Finance Plc 2023ICBCBank of ChinaChina Construction BankAgricultural Bank Of ChinaChina Merchants BankChina Guangfa BankBank of CommunicationsChina Everbright BankIndustrial BankPing An BankPostal Savings BankChina CITIC BankShanghai Pudong Devel

126、opment BankChina Minsheng BankHua Xia BankCitibankHSBCStandard CharteredHang Seng Bank60%57%55%43%38%35%35%34%33%33%32%31%31%27%26%23%23%22%20%Usage/(Might consider+Definitely consider+Preferred brand)China Everbright BankChina Guangfa BankICBCChina Merchants BankChina Construction BankHSBCBank of C

127、hinaIndustrial BankPing An BankHua Xia BankChina CITIC BankShanghai Pudong Development BankChina Minsheng BankAgricultural Bank Of ChinaBank of CommunicationsPostal Savings BankHang Seng BankCitibankStandard Chartered97%95%83%83%80%79%77%74%74%71%71%71%70%68%68%65%60%56%37%Usage/(Definitely consider

128、+Preferred brand)Employing derived importance correlation analysis,Brand Finance has been able to pinpoint the key factors influencing strong consideration.In the realm of B2B banking,it found that effectively communicating the significance and value attributed to the clients business is of paramoun

129、t importance.Equally critical is the establishment and delivery on perceptions of ease in dealing with the brand.Furthermore,emphasising the importance placed on data security emerges as a pivotal factor,underscoring the essential role trust and reliability play in the banking sector.Brand Finance C

130、hina Banking Marketing Research 28Market Results:Drivers of consideration Brand Finance Plc 2023How important is strong consideration,and what associations help to drive it?Values the relationship with my businessEasy to deal with Keeps customers data completely secureConveniently located ATMs and B

131、ranchesWidely available This brand supports causes that I care aboutTrustworthy Specialises in corporate bankingPuts their customers firstGreat value for moneyOffers fair rates and feesHas the best business banking solutions Great customer service Good range of products to choose from Genuinely offe

132、rs something different Innovative Open and honest Modern Excellent website&apps Top 3 Drivers Brand Finance Plc 2023#1 Values the relationship with my business#3 Keeps customers data completely secure#2 Easy to deal withBrand Finance China Banking Marketing Research 29Are brands creating a distincti

133、ve position within the market?Market Results:Brand Perception Correspondence Analysis Brand Finance Plc 2023ICBCChina Guangfa BankBank of ChinaIndustrial BankAgricultural Bank Of ChinaChina Construction BankChina Merchants BankPostal Savings BankBank of CommunicationsChina CITIC BankPing An BankShan

134、ghai Pudong Development BankChina Everbright BankChina Minsheng BankHua Xia BankEasy to deal with Genuinely offers something different Innovative Excellent website&apps Great customer service This brand supports causes that I care aboutPuts their customers firstGreat value for moneyOpen and honest G

135、ood range of products to choose from Widely available Modern Trustworthy Conveniently located ATMs and BranchesKeeps customers data completely secureOffers fair rates and feesSpecialises in corporate bankingBest business banking solutions Values the relationship with my businessWhen examining the ov

136、erall landscape of banking brands in the B2B sector,most are clustered around the middle.This points to the challenging environment banks face in their pursuit of distinctive positioning.However,there are notable exceptions in the B2B market.For instance,China Merchants Bank has carved out a distinc

137、t identity,being particularly associated with specialises in corporate banking and best business banking solutions.Meanwhile,China Everbright Bank and China CITIC Bank are gradually aligning themselves with fair rates and fees,underscoring their dedication to providing cost-effective and customer-ce

138、ntric banking solutions.Brand Finance China Banking Marketing Research 30ESG Environment,Social and Governance While larger banks dominate the ESG scale in the B2B market,its important to note that lower-ranked commercial banks are actively enhancing their green financial service capabilities and pl

139、aying a role in industrial restructuring and pollution control efforts.In August 2022,SPDB served as the exclusive lead underwriter for the Year-2022 Wan-Energy SCP004(Carbon Assets),setting four national firsts.It was the first carbon asset labeled bond,the first bond product with a carbon quota-li

140、nked revenue design concept,the first environmental equity floating-rate bond linked to both the national carbon market and the bond market,and the first bond incentivizing investors through carbon quota-linked trading.Several banks are also expanding further into the B2B ESG sector.Ping An Bank int

141、roduced the Green Finance+product line,focusing on crucial ecological scenarios to provide comprehensive financial solutions,enhance service capabilities,and establish a green real economy ecosystem.Similarly,Industrial Bank prioritized ESG by developing a comprehensive green financial product and s

142、ervice system for corporate clients.In 2022,it established the Industrial Bank Carbon Finance Research Institute,building upon its existing Green Finance Research Team.China CITIC Bank also boosted its green credit balance by 50%to CNY300 billion in 2022.It also pioneered the first national ESG Perf

143、ormance-Linked Loan cross-border syndicated project,integrating corporate ESG into customer credit assessments and the credit process.Brand Finance China Banking Marketing Research 31ESG Environment,Social and Governance Brand Finance Plc 2023ESG-Environment,Social and GovernanceBrandEnvironmentSoci

144、alGovernanceBank of China68%83%77%ICBC64%80%70%China Construction Bank63%72%68%Deutsche Bank55%27%18%Agricultural Bank Of China52%67%57%Postal Savings Bank51%67%60%Hang Seng Bank45%48%25%Bank of Communications43%53%46%Barclays Bank40%40%20%China Merchants Bank40%50%45%Standard Chartered39%55%42%HSBC

145、37%43%26%UBS36%21%21%Shanghai Pudong Development Bank35%45%44%Ping An Bank33%44%33%Industrial Bank32%39%35%China Guangfa Bank32%42%39%China Everbright Bank31%32%30%China CITIC Bank30%34%29%China Minsheng Bank28%41%33%Hua Xia Bank25%27%30%Bank of East Asia24%45%48%Our Services.Brand Finance China Ban

146、king Marketing Research 33Consulting Services.Brand ValuationMake your brands business case Brand valuations are used for a variety of purposes,including tax,finance,and marketing.Being the interpreter between the language of marketers and finance teams they provide structure for both to work togeth

147、er to maximise returns.Brand StrategyMake branding decisions with your eyes wide open Once you understand the value of your brand,you can use it as tool to understand the business impacts of strategic branding decisions in terms of real financial returns.Make branding decisions using hard dataBrand

148、ResearchWhat gets measured Brand evaluations are essential for understanding the strength of your brand against your competitors.Brand Strength is a key indicator of future brand value growth whether identifying the drivers of value or avoiding the areas of weakness,measuring your brand is the only

149、way to manage it effectively.+Brand Audits+Primary Research+Syndicated Studies+Brand Scorecards+Brand Drivers&Conjoint Analysis+Soft Power+Brand Impact Analysis+Tax&Transfer Pricing+Litigation Support+M&A Due Diligence+Fair Value Exercises+Investor Reporting+Brand Positioning +Brand Architecture+Fra

150、nchising&Licensing +Brand Transition+Marketing Mix Modelling +Sponsorship Strategy+Are we building our brands strength effectively?+How do I track and develop my brand equity?+How strong are my competitors brands?+Are there any holes in my existing brand tracker?+What do different stakeholders think

151、 of my brand?+How much is my brand worth?+How much should I invest in marketing?+How much damage does brand misuse cause?+Am I tax compliant with the latest transfer pricing?+How do I unlock value in a brand acquisition?+Which brand positioning do customers value most?+What are our best brand extens

152、ion opportunities in other categories and markets?+Am I licensing my brand effectively?+Have I fully optimised my brand portfolio?+Am I carrying dead weight?+Should I transfer my brand immediately?+Is a Masterbrand strategy the right choice for my business?Brand Finance China Banking Marketing Resea

153、rch 34Brand Evaluation Services.How are brands perceived in my category?Brand Finance tracks brand fame and perceptions across over 38 markets in 31 consumer categories.Clear,insightful signals of brand performance,with data mining options for those who want to dig deeper all at an accessible price.

154、What if I need more depth or coverage of a more specialised sector?Our bespoke brand scorecards help with market planning and can be designed to track multiple brands over time,against competitors,between market segments and against budgets.Our 30-country database of brand KPIs enables us to benchma

155、rk performance appropriately.Do I have the right brand architecture or strategy in place?Research is conducted in addition to strategic analysis to provide a robust understanding of the current positioning.The effectiveness of alternative architectures is tested through drivers analysis,to determine

156、 which option(s)will stimulate the most favourable customer behaviour and financial results.How can I improve return on marketing investment?Using sophisticated analytics,we have a proven track record of developing comprehensive brand scorecard and brand investment frameworks to improve return on ma

157、rketing investment.What about the social dimension?Does my brand get talked about?Social interactions have a proven commercial impact on brands.We measure actual brand conversation and advocacy,both real-world word of mouth and online buzz and sentiment,by combining traditional survey measures with

158、best-in-class social listening.With strategic planning and creative thinking,we develop communications plans to create dialogue with stakeholders that drives brand value.Our approach is integrated,employing tailored solutions for our clients across PR and marketing activations,to deliver strategic c

159、ampaigns,helping us to establish and sustain strong client relationships.We also have a specific focus on geographic branding,including supporting nation brands and brands with a geographical indication(GI).Brand Dialogue Limited is a member of the Brand Finance Plc GroupResearch,Strategy&Measuremen

160、t Brand&Communications StrategyCampaign PlanningMarket Research&InsightsMedia AnalysisPublic Relations&CommunicationsMedia RelationsPress Trips&EventsStrategic Partnerships&Influencer OutreachSocial Media ManagementMarketing&EventsPromotional EventsConference ManagementNative AdvertisingRetail Marke

161、tingContent CreationBespoke Publications,Blogs&NewslettersPress ReleasesMarketing Collateral DesignSocial Media ContentStrategic Communications Crisis CommunicationsBrand Positioning&ReputationGeographic BrandingCorporate Social Responsibility(CSR)Brand Finance China Banking Marketing Research 36Bra

162、nd Finance Network.For further information on our services and valuation experience,please contact your local representative:Market ContactEmailAfricaJeremy Sampsonj.sampsonbrandfi Asia Pacifi cAlex Haigha.haighbrandfi AustraliaMark Crowem.crowebrandfi BrazilEduardo Chavese.chavesbrandfi CanadaLaure

163、nce Newelll.newellbrandfi China Scott Chens.chenbrandfi East Africa Walter Seremw.serembrandfi FranceBertrand Chovetb.chovetbrandfi Germany/Austria/SwitzerlandUlf-Brun Drechselu.drechselbrandfi IndiaAjimon Francisa.francisbrandfi IrelandDeclan Ahernd.ahernbrandfi ItalyMassimo Pizzom.pizzobrandfi Mex

164、icoLaurence Newelll.newellbrandfi Middle EastAndrew Campbella.campbellbrandfi NigeriaTunde Odumerut.odumerubrandfi PolandKonrad Jagodzinskik.jagodzinskibrandfi PortugalPilar Alonso Ulloap.alonsobrandfi RomaniaMihai Bogdanm.bogdanbrandfi South AmericaPilar Alonso Ulloap.alonsobrandfi SpainPilar Alons

165、o Ulloap.alonsobrandfi Sri LankaAliakber Alihussaina.hussainbrandfi SwedenAnna Brolina.brolinbrandfi TurkeyMuhterem Ilgnerm.ilgunerbrandfi United KingdomAnnie Browna.brownbrandfi USALaurence Newelll.newellbrandfi VietnamQuyen Luongq.luongbrandfi Contact us.The Worlds Leading Brand Valuation ConsultancyT:+44(0)20 7389 9400E: