Chinese brands gain clout, but lack overseas profile

Top Chinese brands are now better at making their names known when competing against foreign peers but are still weak when it comes to differentiating themselves, a study by research agency Millward Brown shows.

It released its annual BrandZ ranking of the 100 most valuable mainland brands yesterday, with the list topped by China Mobile, the world's largest telecommunications provider, with a brand value of US$61.4 billion. Industrial and Commercial Bank of China was second and internet company Tencent third.

"Over the past three to five years, Chinese companies' brand power has become stronger than ever," said Doreen Wang, the head of branding with Millward Brown. "They have made huge progress on how to use different channels to raise brand awareness and provide diverse and better products to consumers.

"However, the majority of mainland brands, compared to successful foreign companies like Apple or Coca-Cola, have not developed a sufficient sense of being different, which is key to influencing consumers' purchase decisions."

According to the ranking, the total value of the top 50 mainland brands has risen 13 per cent this year, to the equivalent of about 6 per cent of the mainland's gross domestic product.