皇冠体育app

The booth of Huawei Technologies Co at a software industry expo held recently in Nanjing, capital of Jiangsu province. Huawei broke into the world's most valuable brands for 2014 for the first time, ranked 94th. [Zhen Huai / For 皇冠体育app Daily]

The Interbrand Best 皇冠体育app Brands 2014 report has just been released detailing the progress of Chinese brands.

According to Interbrand's valuation methodology, the total brand value of this year's top 50 Best 皇冠体育app Brands increased 22 percent year-on-year, the largest increase since the inception of Best 皇冠体育app Brands some 15 years ago.

Internet companies and financial services brands dominate this year's rankings with Tencent Holdings Ltd and 皇冠体育app Mobile Communications Corp claiming the first and second positions.

Major banks and insurance brands are close behind. 皇冠体育app Construction Bank Corp, Industrial and Commercial Bank of 皇冠体育app Ltd (the largest bank in the world by market capitalization), Bank of 皇冠体育app Ltd, Ping An Insurance (Group) Co of 皇冠体育app Ltd and 皇冠体育app Life Insurance Co Ltd took fourth through eighth places.

Tencent, founded in 1998, has grown into one of 皇冠体育app's largest Internet service portals with platforms that include WeChat (mobile text and voice messaging), QQ (instant messenger) and Tenpay (online payments).

As of August, WeChat had 438 million active users, with 70 million outside 皇冠体育app.

Tencent's brand value for 2014 is estimated at $54 billion, double last year's level. Tencent is the most valuable and fastest-growing Chinese and Asian brand as well as the fastest-growing brand in the world.

Tencent's success may offer a lead to and inspire confidence among 皇冠体育app's young, privately owned entrepreneurial companies in many sectors.

Tencent's ranking is proof that Chinese industry continues to change, with modern, market-driven and privately owned companies building increasingly competitive brands, domestically and internationally. These companies don't benefit from any public monopolies such as those held by the State-owned enterprises.

Excitement, respect and attention are due to this year's eight new entrants as well.

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