China leading the world: TikTok is fastest-growing brand as Chinese brands look to future

• TikTok/Douyin achieves explosive growth, leading the nation and world in brand value growth
• ICBC is China’s most valuable brand at over US$75 billion
• Increased investment is correlated with increased State Grid brand value growing past US$60 billion
• BYD brand value doubles in value as electric vehicle market expands
• Wuliangye achieves 12% brand value growth
• Yili jumps 7 places as dairy brand value continues to grow
• Huawei overcomes geo-political challenges to increase brand value by 29%
• Li Ning brand value is jumping high as sales increase
• Pinduoduo brand value surges as brand saturates market
• Fast brand value growth for Guangzhou Pharmaceutical with new strategy
• CPIC achieves marginal brand value growth in tough time for insurance
• Newly ranked JD Logistics innovates in supply chain sector
• CNBM achieves fast brand value growth as global demand for materials increases
• Beijing region is leading region for Chinese brand value
• Guangdong, Hong Kong and Macau regions form greater brand area with 125 top brands
• Zhejiang is third-most valuable region for top brands
• Chinese nation ranks third in 2022 Global Soft Power Index

View the full Brand Finance China 500 report here

TikTok/Douyin achieves viral growth, while other big Chinese brands have more moderate growth

More than tripling in brand value over the past year, TikTok/Douyin (brand value up 215% to US$59.0 billion) is the world’s fastest-growing brand, according to a new report from leading brand valuation consultancy, Brand Finance. With an astounding 215% growth, the entertainment app’s brand value has increased from US$18.7 billion in 2021 to US$59.0 billion this year. Now the 7^th most valuable Chinese brand, TikTok/Douyin has become a household name globally.

Every year, Brand Finance puts 5,000 of the world’s biggest brands to the test, and publishes around 100 reports, ranking brands across all sectors and countries. China’s top 500 most valuable and strongest brands are included in the annual Brand Finance China 500 ranking.

TikTok/Douyin has been particularly successful in growing a valuable brand in a world affected by COVID-19 restrictions across the world, with the brand focused on entertaining users on their mobile devices. With different national policies on mitigating the risk of COVID-19 being timed differently in different jurisdictions, TikTok/Douyin has grown in popularity this year for entertainment as well as monetising user content with brand partnerships. A wide variety of consumer brands are including TikTok in their marketing spend, creating a new medium of advertising and selling via influencer marketing.

While traditional media companies produce or license content for distribution, modern social media outlets are benefitting from huge volumes of user-generated content. In recent years, social media channels such as Instagram have revised their product to encourage more content creation – and in doing so, building very strong brand attachments amongst users who are increasingly self-identifying as part of the social media brands.

ICBC is China’s most valuable brand at over US$75 billion

Chinese bank brands have remained strong through the COVID-19 pandemic period, and a significant factor to this success was not only the nation’s timely response to the virus, but also the early and continued investment into digital development, allowing Chinese banks to continue engaging with their customers with relatively little disruption. Over the past year, China’s economy has continued to recover steadily despite a complex and ever-changing domestic and international environment.

This year, ICBC (brand value up 3% to US$75.1 billion) was the most valuable brand in China, and the most valuable banking brand globally. ICBC now has hundreds of subsidiaries in several dozens countries and regions, serving well over half a billion personal customers and several million corporate clients worldwide. ICBC continues to outshine its competitors, holding a healthy brand value lead ahead of China Construction Bank (up 10% to US$65.5 billion)and Agricultural Bank of China (up 17% to US$62.0 billion), which are the 3^rd and 5^th most valuable Chinese brands.

ICBC is China’s most valuable brand at over US$75 billion

Chinese bank brands have remained strong through the COVID-19 pandemic period, and a significant factor to this success was not only the nation’s timely response to the virus, but also the early and continued investment into digital development, allowing Chinese banks to continue engaging with their customers with relatively little disruption. Over the past year, China’s economy has continued to recover steadily despite a complex and ever-changing domestic and international environment.

This year, ICBC (brand value up 3% to US$75.1 billion) was the most valuable brand in China, and the most valuable banking brand globally. ICBC now has hundreds of subsidiaries in several dozens countries and regions, serving well over half a billion personal customers and several million corporate clients worldwide. ICBC continues to outshine its competitors, holding a healthy brand value lead ahead of China Construction Bank (up 10% to US$65.5 billion)and Agricultural Bank of China (up 17% to US$62.0 billion), which are the 3^rd and 5^th most valuable Chinese brands.

View the full Brand Finance China 500 report here

ENDS

Note to Editors

Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across all sectors and countries. China’s top 500 most valuable and strongest brands are included in the Brand Finance China 500 ranking.

Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. The full ranking, additional insights, charts, more information about the methodology, and definitions of key terms are available in the Brand Finance China 500 report.

About Brand Finance          

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes nearly 100 reports which rank brands across all sectors and countries.

Brand Finance is a regulated accountancy firm, leading the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671, and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Disclaimer

Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based 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 that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance’s proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.