Sluggish Economy Hurts Chinese Brands
Using its black-box methodology, which makes its conclusions impossible to understand or critique, Millward Brown released BrandZ Top 50 Most Valuable Chinese Brands 2013. The top five part of the list had no surprises: China Mobile Ltd. (NYSE: CHU) at $50.6 billion, ICBC at $40.4 billion, China Construction Bank at $24 billion, Baidu.com Inc. (NASDAQ: BIDU) at $22.7 billion and Tencent at $20.2 billion.
The value of China's brands has been damaged along with the nation's economic prospects. In the introduction to the study, the authors wrote:
Brand strength is key to sustained commercial success, as this year's survey demonstrates. For the first time since we first published this study in 2011, The China Top 50 declined in brand value. The decrease, a relatively minimal 1.6 percent, is attributed mostly to the slower growth rate of China's economy.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, China Tagged: BIDU, CHU