Alibaba comes top of valuable brands list

Alibaba came top of a list of the 100 most valuable Chinese brands for the first time following its initial public offering in the United States in September, according to a new report.

Between 2011 and this year, the combined value of the top 50 BrandZ Chinese brands list rose 59 percent, reaching US$464.2 billion this year, WPP Group's research agency Millward Brown said in a research report Tuesday.

The BrandZ Top 100 Most Valuable Chinese Brands 2015 report said technology brands accounted for around 23 percent of the total value in the top 100 list, with banks making up 20.7 percent.

The ranking included 50 Chinese companies between 2011 and 2013 and was expanded to 100 in 2014.

Tencent and Alibaba both overtook China Mobile this year, which had been in the top spot since 2011.

Retail, automobiles and technology were the three fastest growing industries among the top 100 brands.

Millward Brown's fifth annual report combines companies' financial performances from Bloomberg and Kantar Worldpanel as well as the views of 23,000 domestic consumers.

China's slower growth in the past year brought down the performance of industries such as liquor, clothing and finance.

Retail was the fastest growing sector in terms of brand value growth with a rise of nearly four times, driven by Alibaba, which appeared in the list for the first time.

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