The great changes in the world today are accelerating. China’s development has entered a period in which strategic opportunities and risk challenges coexist and uncertainties and unpredictable factors increase. However, it is still an important engine for stimulating world economic growth. With the new round of scientific and technological revolution and industrial transformation advancing by leaps and bounds, the transformation of old and new kinetic energy is accelerated, and high-quality development enters the fast lane. Brand value has gradually become the core index to measure the soft power of enterprises.
On May 9th, the 2024 research report "Top 500 Most Valuable Brands in China" compiled exclusively by GYBrand Global Brand Research Institute was released. This is a list that comprehensively shows the high-quality development effect of China brands, and 500 well-known brands from 29 provinces and regions are selected. Among them, 349 brands from Yangtze River Delta, Beijing-Tianjin-Hebei and Guangdong-Hong Kong-Macao Greater Bay Area were selected, accounting for nearly 70%.
The following is the interpretation of the latest China Top 500 Brand Value Report released by GYBrand. Let’s see which brands are on the list.
Interpretation of report
Among the top 10 top 500 most valuable brands in China in 2024, there are 6 in Beijing, 2 in Guangdong, 1 in Hongkong and 1 in Guizhou. The total value of the top 10 brands reached 5.21 trillion RMB, accounting for 14.64% of the total value of the top 500 brands.
Huawei successfully broke through the blockade, made major innovations, and was reborn. The annual revenue returned to the 700 billion mark, and the brand value also increased to 712.6 billion RMB, ranking as the most valuable brand in China for three consecutive years.
As the most profitable bank in the world, ICBC not only ranks second in China’s 500 most valuable brands list, but also tops GYBrand’s top 100 global banks again.
State Grid continued to rank third, and in January this year, it also ranked among the top 10 of GYBrand’s top 500 world brands for the first time.
The "cash cow" game business has been greatly challenged in the past year. Fortunately, WeChat has contributed bright data to Tencent’s financial report, and the second growth curve shaped by video numbers and small programs has supported the growth of brand value.
ByteDance entered the TOP10 for the first time, ranking fifth. The rapid rise of TikTok in the global scope has not only become a bridge for China’s cultural output, but also broken the hegemony of western public opinion and brought a steady stream of advertising revenue.
2024 is the 70th anniversary of the founding of CCB. How to promote high-quality financial development and maintain brand value growth is worthy of attention.
PetroChina ranked among the TOP10 for three consecutive years.
The growth rate of brand value of Agricultural Bank of China continues to slow down, and the position of the top ten is not solid.
China Resources was selected as a group this year, which greatly enhanced the influence of the "China Resources" brand and reached a new high.
Kweichow Moutai entered the TOP10 for four consecutive years and won the most valuable liquor brand.
In terms of regional distribution, as the main gathering place of GYBrand’s top 500 most valuable brands in China, 349 enterprises from Yangtze River Delta, Beijing-Tianjin-Hebei and Guangdong-Hong Kong-Macao Greater Bay Area were selected, accounting for 69.8%.
There are 133 enterprises in the Yangtze River Delta, of which 15 are among the top 100. The coordinated development of regional integration has achieved remarkable results, and a number of world-class industrial clusters such as integrated circuits, biomedicine, artificial intelligence and new energy vehicles have been accelerated here.
There are 114 enterprises in the Beijing-Tianjin-Hebei region, of which 49 are among the top 100. Build world-class industrial clusters such as integrated circuits, network security, biomedicine, power equipment and safety emergency equipment, and help the coordinated development of Beijing-Tianjin-Hebei to a new level.
There are 102 enterprises in Guangdong-Hong Kong-Macao Greater Bay Area, of which 16 are among the top 100. A new generation of strategic industries such as information technology, intelligent manufacturing, biomedicine, new energy and new materials lead and drive the vigorous development of the private economy.
Judging from the number of provinces on the list, there are 100 brands in Beijing, with a large number of central enterprises and state-owned enterprises, of which 47 are among the top 100 most valuable brands in China in 2024, with a total value of 13.01 trillion yuan. Guangdong, which has the reputation of "world factory", has 89 selected brands, among which 16 brands have entered the TOP100, with a total value of 6.09 trillion yuan.
In addition, the high-quality development of brands in Shandong, Fujian, Sichuan and other provinces has made great progress, and the number of top 500 brands in GYBrand China has reached a new high.
The number of brands selected by "Beishangguangshenhang" totaled 229, accounting for 45.8% of the list of China 500 most valuable brands in 2024, with a total value of 22.29 trillion yuan, accounting for 62.7% of the total list.
There are 100 brands on the list in Beijing, with an average value of 130 billion yuan, and both data are in an absolute lead; There are 51 brands in Shanghai, but the average value is only 57.8 billion yuan, which is a big gap between Beijing and Shenzhen. There are 33 brands on the list in Shenzhen. With the blessing of Huawei, the average value reached 105.1 billion yuan, second only to Beijing. The number of top 500 Chinese brands in Hangzhou (23) surpassed that in Guangzhou (22) for the first time, forming a new pattern of "going north to Shenzhen, Hangzhou and Guangzhou".
The selected number of Hong Kong (13) decreased significantly compared with last year, mainly because China Resources was selected as a group this year, and the values of its brands were merged into the group; Although the number of candidates from Foshan (11), Ningbo (11), Chengdu (10) and Suzhou (10) has increased, there is a big gap in number compared with those from Guangzhou, Guangzhou, Shenzhen and Hangzhou.
A large number of cities have been selected as the top 500 brands of GYBrand China, including Jinan (9), Qingdao (8), Wuxi (8), Dongguan (8), Xiamen (7), Nanjing (7), Changsha (7) and Quanzhou (7). The high-quality development of these cities has its own advantages and characteristics, and the number of brands selected is expected to impact the strength of the top ten.
Felix, chief analyst of GYBrand, said, "China brands are accelerating their global distribution, and world-class brands are emerging in many fields. Beijing has a large number of central enterprises and state-owned enterprises. Among the 35 enterprises selected as the top 500 GYBrand World Brands, 28 are central enterprises and state-owned enterprises. Shenzhen has accelerated its March to a global scientific and technological innovation highland, and its overseas brands have great potential. Private enterprises have played an important role. Among the eight enterprises selected as the top 500 brands in the world, all of them come from private enterprises. Combined with the ranking of GYBrand’s Top 100 Cities in China in 2024, Hangzhou has become a strong competitor of the fifth city after Beishangguangshen. "
The list of the top 500 brands in China in 2024 covers 28 different industries, with the food and beverage industry being the most selected.
From the perspective of the distribution of industries, there are 10 industries with more than 20 selected. According to the selected number, the order is: food and beverage (51), computer & electronics (41), retail (36), bank (35), transportation (31), automobile (29), new energy (25), household appliances (25), medicine (24) and home building materials (23). These industries add up to 320, accounting for 64% of the total list.
Judging from the average value of the industry, seven industries have reached the level of 100 billion. Eight companies in the communication industry led by Huawei and the three major operators were selected, with an average value of 213.8 billion, ranking first; Eleven petroleum and petrochemical industries led by three barrels of oil were selected, with an average value of 144.1 billion, ranking second. The other five industries are: media (15, with an average value of 140.9 billion), insurance (12, with an average value of 136.3 billion), banking (35, with an average value of 126.6 billion), public utilities (15, with an average value of 125.3 billion) and engineering construction (12, with an average value of 118.5 billion).
Felix, chief analyst of GYBrand, said: "The number of candidates in the real estate industry has plummeted from 41 in 2021 to 12 today. The development of strategic emerging industries is at an important juncture to seize the commanding heights and leap to a higher level, representing the direction of a new round of scientific and technological revolution and industrial transformation, a new generation of information technology, artificial intelligence, biotechnology, new energy, new materials, high-end equipment, and green environmental protection. The development potential is huge, and more leading enterprises may appear on the list of top 500 Chinese brands in GYBrand in the future. "
In the list of the top 500 most valuable brands in China in 2024, the brand value of 73 enterprises reached 100 billion. Among them, Huawei, ICBC, State Grid, Tencent, ByteDance and other five brands have a value of more than 500 billion; The value of 13 brands such as PetroChina, China Resources, Maotai, China Mobile, Sinopec and Alibaba is in the range of 300-500 billion; BYD, Contemporary Amperex Technology Co., Limited, China Construction, CITIC, COFCO, Wuliangye, Pinduoduo, Midea, China Telecom, Sinochem, China Railway, Haier and other 55 brands are in the range of 100-300 billion.
132 brands such as Chery, Hisense, Sany, Hikvision, BOE, SHEIN, DJI, Anta, Weichai, Wahaha and LI are in the range of 50-100 billion; 126 brands, including Voice Holding, Haitian, Feihe, Huazhu, Wuling, Jinluo, Weilai, Tucki, Bosideng, Oriental Yuhong, Iflytek, Yadea and Shanghai Airport, have a value of 30-50 billion. 158 brands including Dashenlin, Huaibei Mining, Chenguang, Renfu Medicine, Libai, Cobos, Anjing Food, Sanshu, Jinshan Office, Laoganma, Zhouming and Chaowei are in the range of 10-30 billion; The value of 11 brands such as Chaohongji and Fiyta is below 10 billion.
From the time of its establishment, the average age of GYBrand’s top 500 Chinese brands this year is 41.25 years old, which is 2 years lower than the previous year, showing a trend of youthfulness. Among them, Luckin Coffee became the youngest brand at the age of 7, while LU ZHOU LAO JIAO CO.,LTD became the oldest brand at the age of 451.
Among the 500 brands on the list, there are only 22 brands with a history of 100 years, accounting for only 4.4%. The average age of food and beverage industry is the oldest. Besides LU ZHOU LAO JIAO CO.,LTD, there are nine centuries-old brands such as Kweichow Moutai, Daoxiang Village, Changyu, Tsingtao Brewery, Langjiu, Wuliangye, Bright Dairy and Fenjiu.
There are only 11 brands established after 2014, accounting for only 2.2%, and the new forces of making cars have contributed 3; There are 69 brands established after 2004, and the proportion has risen to 13.8%. It is not difficult to see that it will take at least ten years or even longer to become a leading enterprise in the industry and reach a certain scale (revenue ≥ 3 billion) if you want to enter the list of GYBrand’s top 500 most valuable brands in China.
Looking around the world, China accounts for more than one third of the youngest 100 world-class brands, most of which are global brands. Among the youngest 10 brands, China occupies 7. To this end, Felix, chief analyst of GYBrand, said, "Although brand cultivation in China started late, there are only seven world-class brands with a history of 100 years. However, with the high-quality development of the brand entering the "fast lane" and accelerating the pace of building a world-class enterprise, the influence of China brand in the world is increasing day by day, and the brand value growth potential is great. "
With the high-quality development of China brands, more and more China brands regard overseas markets as important growth opportunities, speed up overseas distribution, actively enter the world stage, take the initiative to strive for new challenges, and have been widely concerned and recognized in overseas markets.
China’s brand going abroad has become an effective means to enhance the country’s soft power and competitiveness, which not only promotes the benign and vigorous development of the industry, but also helps to enhance the country’s international image and reputation through successful operation and positive reputation in overseas markets. The core spirit of China culture has influenced more foreign friends, and through the internal drive of products, China brand’s international popularity and influence have been continuously enhanced.
Although "China Brand" has emerged in the international competition, it still lacks "soft power" and is still in the stage of "big but not strong". Some experts who study global brands believe that China’s brand going abroad is not only the output of products or services, but also the spread of China culture. The road to globalization of China brand will not only form its unique image in overseas markets, but also participate in the construction of the overall image of China brand, which will have an important impact on other China brands going abroad.
To this end, starting from the second half of this year, GYBrand will strengthen cooperation with relevant departments to jointly empower China brands to go abroad, and strive to transfer China’s core values and cultural concepts to overseas markets to help China brands shine in the spotlight of the world stage.
Complete list
It should be emphasized that the evaluation of the top 500 brand values of GYBrand China in 2024 is mainly based on brand value, and it is not simply ranked according to the market value or revenue scale of enterprises, but comprehensively analyzed from four dimensions, including financial performance, brand strength, brand contribution and sustainability.
Write it at the end
Brand is an important symbol of high-quality development, an internal support for the construction of a quality power, and the most precious intangible asset of an enterprise. A prestigious brand will surely win a broader development space. To this end, more and more leading enterprises in the industry re-examine the effectiveness of brand building, actively promote the high-quality development of brands, and include the continuous improvement of brand value and the acceleration of building world-class brands as important indicators in their annual implementation plans. Empowering by GYBrand brand value evaluation will help enterprises gain insight into their own brands and the development of their industries, understand the contribution of brands to the overall value of enterprises, provide important information support for the decision-making level of the company, promote the sustainable growth of their own brand value, and continuously enhance brand awareness and influence.
Editor: rwzh4