Interbrand has announced the 2011 Best China Brands ranking during the World Economic Forum’s Summer Davos in Dalian, China. The leading brand consultancy has unveiled that the brand value of the best Chinese enterprises is on the rise as China’s economy continues to grow. 

Pic. The report’s cover image

China Mobile, China Life, China Construction Bank (CCB), Industrial and Commercial Bank of China (ICBC), Bank of China (BOC) and Ping An Insurance (Group) Company of China remained in the top six, compared with 2010. Tencent, whose brand value has increased 76% in the past twelve months, leaped to the seventh place. In addition, China Taiping, China Everbright Bank, Belle International, Great Wall Motor Company and Bank of Beijing appeared on the list for the first time.

Interbrand has been researching brands worldwide since 1984 and its methodology has long been recognized  and appreciated by the business world. In July, Interbrand released its study of the ‘Best Global Green Brands.’ The 2011 Best China Brands is the fourth annual ranking by Interbrand in the Chinese market. The valuation is a transparent approach based on financial data independently audited by a third party, industry-specific studies and market data. The brand value calculated by Interbrand indicates the Net Present Value (NPV) of brand earnings of the selected brands at the end of 2010 and onwards.

In terms of brand value, Baidu, Haier and Lining have been the fastest-growing brands during the past four years. The total brand value of the top 25 2011 Best China Brands reached 896.17 billion Yuan in 2011, a 13.5% increase from 2010.

Nineteen of the 50 best brands are from the financial services industry, including 12 banks, 4 insurance companies and 3 securities companies. Among the 19 financial service enterprises, 7 rank among the top 10.

The financial sector is followed by the IT services industry with its 68% increase from 2010 and leading brands such as Tencent, Baidu, Alibaba and Ctrip.

New Oriental Education, the only brand on the list in the education service sector, has leaped from the 40th spot last year to 32 with a 64% growth in its brand value.

The apparel sector continues to grow showing significant changes over the past year. Belle (43rd) and Bosideng (47th) are the leading brands in this segment.

The food and beverage industry suffered a decline in brand value of 25% because of food safety issues. Three food enterprises, Yurun, Mengniu and Shuanghui, which were on the 2010 list dropped its rank.

In general, Chinese brands demonstrate a rapid evolution from best-in-class to world-class.

Jez Frampton, CEO of Interbrand Global, said: «Chinese brands are accumulating strength at home to actively prepare for future development overseas. We are already experiencing Chinese Brands around the world, and will likely see one of the 2011 Best China Brands among the top 100 Best Global Brands in the near future».