Fifty Chinese brands figure in the 2024 “World’s 500 Most Influential Brands” ranking, according to the World Brand Lab on Dec 12.
The top three Chinese brands on the list are State Grid, Tencent and Haier, followed by Industrial and Commercial Bank of China and Huawei.
This marked the 21st time that the World Brand Lab had evaluated the brand influence of global brands, with a total of 500 brands from 32 countries and regions making the list.
The evaluation criteria for the ranking are based on the brands’ global impact, which includes the brands’ ability to expand and dominate markets, as well as the profitability. The three key indicators influencing brands influence are market share, brand loyalty, and global leadership.
Chinese companies have increasingly been accelerating their pace of international expansion and actively exploring new opportunities in overseas markets to drive sustained business growth.
By continuously upgrading to intelligent and green practices, Chinese brands are enhancing their influence on the world stage.
Factors such as trustworthiness, ability to meet consumer needs, and trendiness are becoming crucial for overseas consumers when choosing Chinese products.
Chinese brands have also made significant progress in product quality, technological innovation, and industrial chain exports.
More Chinese brands are expected to join the ranking of world-class brands as overseas Chinese companies focus on deep integration of brands with local cultures, understanding consumers’ insights and constantly enhancing brand strength and innovation capabilities.