Global brand agency WPP has published its latest ranking of Chinese companies. On a year-on-year comparison between the 2014 and 2013 China Top 50s, total brand value rallied 13% compared to a decline of -1.6% in the previous year. Market-driven brands are enjoying fast growth...a positive sign for successful business transformations.
Valued at 61.4 billion U.S. dollars, China Mobile tops the list for the fifth year, up 21 percent on 2013.
Among the top ten slots, the quickest risers are technology and Internet brands, such as TENCENT and BAIDU.
Market-driven brands in the Top 50 enjoyed brand value growth of 27% - three times that of state-owned enterprises.
The Chinese brands that get the highest proportion of their revenue from overseas markets are Lenovo, Air China, and China Eastern Airlines.
Global consumers are more likely to buy from Chinese brands only in the computer and technology categories.
Hundreds of European firms have joined this event. They are keen to have a better understanding of the Chinese market. Some of the biggest Chinese brands they probably have never heard of before. It’s important for the Chinese brands to improve their international recognitions.
Changing overseas consumers’ perception of “Made in China” is one of the fundamental challenges as Chinese brands expand globally.
It will take time to change the impression of Chinese products are just cheap.
It requires a long lasting investment in the production’s research and development.
It usually takes several years’ time to launch a new and high standard’s products in the market.
While the challenge may impact the speed with Chinese brands find acceptance abroad, it’s unlikely to reverse the long-term trade of gaining an international reputation.