New data from Brand Finance reveals top 500 Chinese brands have reached $2 trillion in brand value this year
BEIJING, 9 May 2025 –China’s top 500 brands boast a combined brand value of almost USD2 trillion in 2025, with TikTok/Douyin retaining the top spot for the second consecutive year, according to the latest China 500 2025 report by Brand Finance, the world’s leading brand valuation consultancy.
TikTok/Douyin (brand value up 26% to USD105.8 billion) also ranks as the second most valuable media brand globally, reflecting its robust financial performance. Brand Finance attributes this growth to the brand’s innovative content strategy, e-commerce integration through TikTok Mall, and hyper-personalised user experiences that continue to boost engagement and monetisation potential across its advertising, retail, and content verticals.
State Grid Corporation of China (brand value up 20% to USD85.6 billion), climbs to second place, surpassing ICBC, as the nation’s second most valuable brand. The brand also cemented its leadership by ranking first among Chinese utility brands. Its growth is largely driven by increased infrastructure investments, expansions into high-demand regions, and a focus on clean energy deployment. Brand Finance’s market research data shows that the brand has performed quite well in terms of reliability and popularity within its domestic service market.
ICBC (brand value up 10% to USD79.1 billion), drops to third this year but continues to lead as both China’s and the world’s most valuable banking brand for the ninth consecutive year. Its resilience is backed by the "Cloud ICBC" digital ecosystem which integrates blockchain and AI, cross-border blockchain platforms which support its Belt and Road project, green financing solutions for SMEs, and fintech driven rural development initiatives.
Happy Valley (brand value up 48% to USD1.5 billion) emerges as China’s strongest brand this year, with a notable Brand Strength Index (BSI) score of 97.0/100 and a AAA+ brand strength rating. According to Brand Finance’s research data, the brand’s strength is largely fuelled by high customer consideration and preference in its home market, supported by a diverse portfolio of attractions and a growing presence across major Chinese cities.
Little Swan (brand value up 210% to USD1.8 billion) is China’s fastest-growing brand in 2025. Supported by Midea Group, the brand’s growth is largely driven by the strong sales of its washing machines and air conditioners. Little Swan’s “Caring for Loved Ones” campaign further elevated the brand’s appeal, resonating strongly with young newlyweds through social media, KOL collaborations, and offline activations.
Scott Chen, Managing Director, Brand Finance China, commented:
“China’s top brands have continued to demonstrate remarkable resilience in 2025, with TikTok/Douyin maintaining its dominance as the most valuable Chinese brand and a global leader in the media sector. The rise of brands like ICBC, State Grid Corporation of China, Happy Valley and Little Swan reflects a broader trend towards innovation, sustainability, and customer-centric strategies. Brands are increasingly leveraging digital platforms and e-commerce integration, while also embracing green initiatives to align with shifting consumer values and regulatory pressures. The continued success of these brands underscores the strength of China's dynamic economic and technological landscape”.
Other Chinese tyre brands featured in the global rankings are:
Sector highlights from the Brand Finance China 500 2025 report:
Sustainability
Brand Finance also assesses the brands consumers consider most committed to sustainability. The 2025 Sustainability Perceptions Index will be released later this year, revealing which brands are perceived to have the strongest commitment to sustainability globally, the changing role of sustainability in driving demand, and the large amounts of value at risk, being missed, and being secured by the world’s biggest brands.
State Grid Corporation of China tops the list in China for its environmental sustainability perceptions, while CNNC leads in social and governance sustainability. Both brands are also highly regarded by Chinese respondents in these categories.
Brand Guardianship Index
The Brand Guardianship Index (BGI) evaluates the efficacy of chief executives in managing and elevating their companies' brands while fostering long-term value creation.
The Top Brand Guardians in China are:
Jun Lei, Xiaomi, CEO
Jun Lei, the CEO of Xiaomi, ranks as the highest ranked brand guardian among Chinese brands, maintaining a strong position at 8th in the global ranking.
Zhengfei Ren, Huawei, CEO
Zhengfei Ren, CEO of Huawei, made a strong debut this year, ranking 22nd in the global rankings and is among the top three Chinese brand guardians.
Gang Pan, Yili, CEO
Gang Pan, Chairman and CEO of Yili Group, ranks 21st among Chinese brand guardians.
Important note: Research conducted for the BGI is as of 1st January 2025
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 evaluating marketing investment, stakeholder equity, and business performance, 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.
