(Yicai Global) Jan. 21 -- Kweichow Moutai, the leading maker of China’s popular fiery baijiu liquor, is the country’s most valuable brand for a third year in a row, according to an annual ranking compiled by Hurun Report.
Kweichow Moutai’s brand value jumped 63 percent to CNY1.04 trillion (USD161 billion) last year, the Hurun Most Valuable China Brands 2020 showed today.
Tmall, the e-retailing platform under e-commerce titan Alibaba Group Holding, came in second at CNY490 billion (USD75.8 billion), a 53 percent increase, ahead of premium cigarette brand Chunghwa, which slipped one place to third at CNY335 billion.
The top 10 among the list of 200 most valuable brands also included Alibaba’s e-commerce platform Taobao, liquor maker Wuliangye Yibin, internet titan Tencent Holdings and its instant messaging app WeChat, Ping An Insurance, and Alibaba’s main competitors JD.Com and Pinduoduo.
The 200 brands were worth a total of CNY9.2 trillion (USD1.4 trillion), a 20 percent gain on 2019. The healthcare sector grew the fastest, increasing by an average 74 percent. It was followed by the liquor and e-commerce sectors, with average increases of 66 percent and 47 percent, respectively.
Private consumer brands have made significant progress in recent years, accounting for 60 percent of those on the list, up from 50 percent five years ago, Hurun Report Chairman Rupert Hoogewert said. Eight of the top 10 are private, up from just three five years ago and none a decade ago, he added.
This is the 15th year Hurun Report has published its brand value rankings. It assesses brands based on relevant economic data and consumer survey results.
Editor: Peter Thomas