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Technology-related brands rise rapidly, passing slower SOEs

Technology-related

brands rise rapidly,

passing slower SOEs

The change in the composition of the BrandZ China Top 10 illustrates the dynamics that radically altered the Chinese brand landscape over the past decade, when the economy rebalanced from production to consumption, with State-Owned Enterprises outpaced by consumer brands in value growth.

Between 2011 and 2020, five brands dropped from the Top 10: two banks, an insurance brand and an energy brand, and a technology brand. They were replaced by two retail brands, an alcohol brand, a technology brand, and a lifestyle platform, a category that did not exist in the ranking until 2019.

The five brands added to the China Top 10 are Alibaba, JD, Moutai, Huawei, and Meituan. Alibaba, the No. 1 most valuable Chinese brand in 2020, was not in the BrandZ China ranking in 2011, when China Mobile ranked No. 1, and SOEs dominated the Top 10.

Along with telecom provider China Mobile, the 2011 BrandZ China Top 10 included six other SOEs—four banks, an insurance brand, and an energy brand. The number of SOEs in the Top 10 has declined from seven in 2011 to four in 2020.

The change in the Top 10 Risers—brands that increased most in value—also illustrates the dramatic change of the Chinese market over the past 10 years. Only three brands—Moutai, Haier, and Midea—appear in both the 2011-to-2020 and the 2014-to-2020 Top 10 Riser rankings. Moutai is a brand of baijiu white alcohol. Both Haier and Midea make home appliances, although Haier has evolved into an Internet of Things Ecosystem.

The growing importance of technology and services are evident in the 2014-to-2020 Top Riser ranking with the presence of internet brand NetEase along with Ctrip, the online travel agency, and two education brands—Xueersi and New Oriental.