As China’s innovation-driven development continues to drive growth and global strategy for many local brand leaders, Brandz exposes how “created in China” goods and services now represent innovation, quality, and value. The brands of the 12 product categories are classified according to their Brand Power Scores in seven developed markets, including France, Germany, Spain, the United Kingdom, the USA, Australia, and Japan. On this occasion, the 5 leading brands in 2018 include; Lenovo, Huawei, Alibaba, Xiaomi and Air China.
What BrandZ ™ report says about China’s industry outlook?
In 2017, the top consisted of only 30 brands, but due to the rapid pace of global expansion of Chinese companies, this figure has now been taken to 50 brands in the ranking. Many of the Chinese companies defend President Xi Jinping’s 2013 initiative, ‘Silk Road Economic Belt’, responding to China’s call for attention to a new era of globalization in what has been called the highest development momentum in history.
Lenovo, Huawei, Xiaomi, and Anker dominate in the Consumer Electronics category, which remains the highest rated category in this top. In 2018, there are ten Consumer Electronics brands that contribute with 34% of Brand Power’s total score. Collectively, consumer electronics, mobile gaming, and e-commerce (including fast online fashion) represent 61% of the brand’s total power in the Top 50. The remaining 39% of Brand Power added comes from another seven categories.
The report has analyzed in depth the Chinese brands that are having an impact with consumers in international markets and provides a lot of inspiring ideas about how Chinese companies can successfully build their brands on a global scale.
As can be seen, Chinese brands are at the forefront of innovation and their global brand builders are helping to establish China as an innovative, cutting-edge and pioneering industry. This fact is driven by China’s insatiable appetite for new technologies, which has caused the growth of many categories of brands and boosting innovation at an incredible pace.