Brand value of Chinese firms, especially those from the technology, education and logistics sectors, have seen a sharp surge in the latest ranking released last Monday.
The brand value of the top 100 Chinese brands this year achieved a record growth of 23% from $557.1 billion a year ago to $683.9 billion in 2018, representing the greatest annual growth since WPP and Kantar Millward Brown's Top 100 Most Valuable Chinese Brands ranking was first released in 2014.
Logistics brands entered the BrandZ China rankings for the first time as a category, with the largest SF Express coming in at No 11, reflecting the rise of e-commerce and the increase in package delivery volumes in the country.
The BrandZ China Top 100 has grown by 80% over the past five years, outpacing the BrandZ Global Top 100's 27% growth.
Technology giant Tencent has retained the coveted title of China's most valuable brand for the fourth consecutive year, achieving a brand value of $132.2 billion, a 25% year-on-year increase.
"Tencent has benefitted greatly from the rapid development and massive opportunities of China's digitalization," said Seng Yee Lau, chairman of Tencent Advertising.
"Technology has become an integral part of our everyday lives. Now the final piece of the jigsaw is ready to be put into place and a completely digital China will emerge," Lau said.