Top brands in China shine amidst the nation's economic recovery: Brand Finance China 500 2024 Report

• China's media sector in the spotlight with TikTok leading as the nation’s most valuable brand and WeChat as strongest brand in rankings
• Hot Pot of Gold: Haidilao leads China's restaurants as strongest restaurants brand while Luckin Coffee brews success with largest brand value growth
• BYD defends crown as China’s most valuable automobiles brand amidst rising interest in Electric Vehicles
• Tiktok/Douyin holds highest Sustainability Perceptions Value of USD9.2 billion among Chinese brands

China's media sector in the spotlight with TikTok leading as the nation’s most valuable brand and WeChat as strongest brand in rankings

Amidst the clash between TikTok and US regulators, TikTok/Douyin continues to grow in brand value, recording a 28% increase to USD84.2 billion and coming in as China’s most valuable brand among the top 500 brands ranked, overtaking ICBC (brand value up 3% to USD71.8 billion) now in 2^nd  place. TikTok/Douyin is also the world’s 7^th most valuable brand, according to Brand Finance’s Global 500 2024 report.

WeChat holds the title of world’s strongest brand among the most valuable brands ranked in Brand Finance’s Global 500 2024 report, with an impressive Brand Strength Index (BSI) score of 94.3 of 100 owed to perfect scores in brand research metrics including familiarity, consideration and recommendation.

Hot Pot of Gold: Haidilao leads China's restaurants as strongest restaurants brand while Luckin Coffee brews success with largest brand value growth

The largest segment of the Chinese restaurants sector is occupied by full-service restaurants thanks to consumer loyalty and the adoption of central kitchens, among other factors. However, the segments of limited-service restaurants and cafes/bars are also slowly growing owing to the rise in coffee culture, social media and demand for casual meeting areas.

Among the most valuable restaurants brands in the world according to Brand Finance’s Restaurants 25 2024 report, Haidilao is the strongest, holding a stellar brand strength rating of AAA+, followed by Luckin Coffee as second strongest.

BYD defends crown as China’s most valuable automobiles brand amidst rising interest in Electric Vehicles

BYD (brand value up 20% to USD12.1 billion) retains the privilege of being the only Chinese automobiles brand to be listed in our Global 500 2024 rankings, having also displaced Tesla (brand value down 12% to USD58.3 billion) in late-2023 as the world’s top seller of electric vehicles for that period. A key part of BYD’s expansion is the fierce domestic competition in China’s market which has led to massive improvements in technology and change in reputation for the quality of its products.

Tiktok/Douyin holds highest Sustainability Perceptions Value of USD9.2 billion among Chinese brands

Brand Finance also utilises its Global Brand Equity Monitor (GBEM) research to compile a Sustainability Perceptions Index. The study determines the role of sustainability in driving brand consideration across sectors and offers insight into which brands global consumers believe to be most committed to sustainability. For individual brands, the Index displays the proportion of brand value attributable to sustainability perceptions. This Sustainability Perceptions Value is the financial value contingent on a brand’s reputation for acting sustainably. From here, Brand Finance’s perceptual research is analysed alongside CSRHub’s ESG performance data to determine a brand’s ‘gap value’. This is the value at risk or to be gained, based on the difference between sustainability perceptions and actual performance.

The 2024 Sustainability Perceptions Index finds that among Chinese brands in the rankings, Tiktok/Douyin has the highest Sustainability Perceptions Value of USD9.2 billion.

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