New Brand Finance data shows China’s top 500 brands grew 8% year on year despite economic and geopolitical headwinds
BEIJING, 9 May 2026 – China’s top 500 brands have grown 8% year-on-year to reach a combined value of USD2.13 trillion in 2026, as the financial services, media, and electronic sectors continue to anchor the national brand landscape amid a complex global environment shaped by trade tensions, geopolitical uncertainty, and accelerating technological disruption, according to the China 500 2026 report by Brand Finance, the world’s leading brand valuation consultancy.
Banking remains the largest contributor to the nation’s overall brand value, supported by the continued strength of major banking institutions, resilient balance sheets, and sustained domestic scale advantages. Media is the fastest-growing sector, driven by rapid digital transformation, platform consolidation, and the increasing integration of artificial intelligence into content creation, distribution, and monetisation. Electronics continues to play a central role in reinforcing China’s position in global supply chains, underpinned by sustained investment in advanced manufacturing and semiconductor capabilities.
TikTok/Douyin retains its position as China’s most valuable brand for the third consecutive year, with its brand value surging 45% to USD153.5 billion. As a global leader in short-form video and social media, the platform continues to demonstrate strong commercial momentum and sustained cultural influence. Growth has been driven by rising revenue expectations supported by expanding e-commerce ecosystems, increased monetisation through in-app transactions, AI-enabled improvements in conversion efficiency, and rapid growth in search-based commerce across the platform.
State Grid Corporation of China ranks second, with brand value rising 20% year-on-year to USD102.4 billion, crossing the USD100 billion threshold for the first time. Growth has been supported by continued investment in grid infrastructure and accelerated development of ultra-high voltage and pumped storage projects.
Industrial and Commercial Bank of China (ICBC) retains third position as China’s most valuable banking brand, with its brand value increasing 15% to USD90.9 billion. The bank’s performance is underpinned by resilient fundamentals and continued scale expansion, with total assets surpassing USD7.54 trillion for the first time in 2025. ICBC continues to advance its digital transformation agenda to enhance customer experience, while strengthening its global footprint through initiatives such as ICBC Global Treasury.
Scott Chen, Managing Director, Brand Finance China commented:
“China’s top 500 brands surpassing the USD2 trillion threshold signals more than just scale. It reflects a structural shift in how value is created. Growth is increasingly concentrated among brands such as TikTok/Douyin, State Grid Corporation of China, and BYD, which combine domestic resilience with global relevance while embedding AI, ecosystem thinking, and advanced manufacturing into their core strategies. In this environment, competitive advantage is increasingly defined by how effectively brands translate technology, sustainability, and platform-based models into sustained commercial momentum and long-term value creation.”
Tsingtao (brand value up 30% to USD4.7 billion) emerges as China’s strongest brand this year, with a Brand Strength Index (BSI) score of 95.7/100 and an AAA+ brand strength rating, reflecting exceptional overall performance. The brand shows particularly strong results in familiarity, selection, and consumer trust, supported by high credibility and appeal across domestic markets.
WeChat (brand value up 46% to USD 48.1 billion) ranks second with a BSI score of 95.1/100 and an AAA+ brand strength rating, underpinned by its ecosystem scale and deep integration into daily digital life. With over 1.4 billion monthly active users, its strength is driven by high engagement across messaging, payments, Channels, and Mini Programmes.
Wuliangye (brand value down 2% to USD 27.3 billion) ranks third with a BSI score of 93.6/100 and an AAA+ brand strength rating, rising 15 places year-on-year in brand strength. Its performance is supported by strong results across reputation, engagement, familiarity, and consideration, reflecting deep consumer resonance.
Meanwhile, Fuyao Glass Industry is the fastest-growing brand in this year’s ranking, with its brand value surging 139% to USD1.2 billion. Growth is driven by strong global demand for high value-added automotive glass, supported by an increasingly integrated supply chain and expansion across key automotive manufacturing hubs
Sector highlights from the Brand Finance China 500 2026 report:
Sustainability
The 2026 Sustainability Perceptions Index reveals which brands are perceived to have the strongest commitment to sustainability globally, the evolving role of sustainability in driving demand, and the substantial value tied to sustainability for the world’s biggest brands.
Among Chinese respondents, BYD, State Grid Corporation of China, Bank of Qingdao, China National Nuclear Corporation, Huawei, and Alibaba Group are perceived to demonstrate strong sustainability performance across environmental, social, and governance pillars.
In China, sustainability perceptions reflect large-scale industrial transformation, digital infrastructure development, and structured ESG governance. BYD Company drives environmental sustainability through electrification, zero-emission mobility, and battery recycling. The brand’s rise and successful challenge of dominant players in Tesla and European auto reflects BYD’s innovation and accessibility on the global stage. Utilities giant State Grid Corporation of China is also strongly perceived, thanks to its large-scale infrastructure investments into renewable energy that advances clean energy integration and grid modernisation.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
