Growth of tech brands boosting market-driven brands

Technology brands account for 27 percent of the total value of China's Top 100, up from 16 percent just two years ago, and their growth has boosted the strength of the market-driven brands, said a survey.

According to the 2015 BrandZ Top 100 Most Valuable Chinese Brands, released by global communications group WPP and global brand agency Millward Brown, in Beijing on Monday, three tech brands are among the top 10 most-valuable Chinese Brands 2016.

The list is led by Tencent, which saw its brand value in 2016 rise to $82,107 million, followed by Baidu, $26,849 million, and Huawei, $18,501 million.

Three tech brands also top the ranking of brands that generate the highest proportion of their revenue from overseas, including Lenovo with 68 percent, Huawei, 62 percent, and ZTE, 50 percent.

Market-driven brands have contributed more than half of the value of the China top 100, with these brands having taken full advantage of their freedom to innovate and generate value from technology, it said.

Two tech brands, content provider LeTV (32) and gaming platform NetEase (40), are the highest risers increasing in value by 81 percent and 73 percent respectively.

Both have profited from creating 'smart connected businesses', using their platforms to offer new products and services that integrate them more deeply into people's daily lives, said the survey.

"China is the most dynamic market in the world in terms of mobile use, and companies that intend to build their brands there should not underestimate the speed of the digitalization and mobilization wave," said Doreen Wang, Global Head of BrandZ, Millward Brown.

"Despite the slowdown in economic growth and extreme stock market fluctuations, consumers feel optimistic: they still hold on to the Chinese Dream of a better life for themselves and their families."

The most successful brands will become the consumer's partner in this pursuit, using digital and mobile to connect and communicate at the right time, in the most appropriate media, with a relevant and creatively compelling message, said Wang.