The mobile phone carrier, which Millward Brown also calculated to be among the top 100 most valuable brands globally at more than US$56 billion, was followed in the domestic rankings by four financial institutions: the Industrial Commercial Bank of China, the Bank of China, China Construction Bank and the Agricultural Bank of China.
The strong showing by state-owned companies is unsurprising. However, consumer-oriented technology brands also performed well, with Tencent and Baidu ranking eighth and ninth respectively. Additionally, carmaker BYD, Lenovo and white goods manufacturer Haier enjoyed relatively high positions, while Changyu, Tsingtao, Yili and Great Wall ranked highly for the packaged goods sector.
In a statement, Adrian Gonzalez, head of Millward Brown Greater China, noted that a number of Chinese companies had succeeded in building engagement and loyalty among domestic consumers. Gonzalez added that these consumers were becoming increasingly sophisticated in their understanding of brands and branding.
“This research can help Chinese companies understand that good brand building is a powerful way to develop and maintain a competitive edge in a market evolving as quickly as China’s,” Gonzalez said in the statement.
The research drew on input from more than 35,000 Chinese consumers and financial and market information from Bloomberg and Data Monitor.