Taobao, Alibaba´s ecommerce platform, has become the country´s most valuable brand, beating China Mobile and Baidu, says Hurun´s lastest report. Hurun´s chairman Rupert Hoogewerf tells the South China Morning Post, he expects the value of the brand to rise even more.
The South China Morning Post:
Taobao, the online shopping platform owned by Alibaba, has become the country’s most valuable brand for the first time, according to the “Hurun Most Valuable Chinese Brands 2016” report.
Valued now at 230 billion yuan, Taoboa is followed in second place by telecom operator China Mobile, worth 227 billion yuan, with China’s biggest search engine Baidu in third, with a value of 218 billion yuan, the annual ranking by the Shanghai-based Hurun Research Institute shows.
Now in its eleventh year, the rankings are based on companies’ market value and what it calls a “brand premium”, as well as feedback from 1,000 Chinese consumers , 65 per cent of whom have more than 8,000 yuan monthly income.
Tencent Holdings dropped from top to fifth, with a 210 billion yuan brand value, as its social-networking application WeChat is being counted separately for the first time, itself coming in at seventh with a 132 billion yuan value…
Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said he expects the brand value of technology firms to keep rising, as China’s economic priority continues to emphasis domestic consumption and as many more technological brands become parts of everyday life for more Chinese consumers.
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