The brand value growth of non-State-owned enterprises in China is three times larger than that of SOEs, indicating an increasingly consumer-driven market amid government efforts to emphasize the rebalancing of the domestic economy, a study shows.
Market-driven brands — mostly those of private companies — in the top 50 of the rankings enjoyed value growth of 27 percent, compared with 9 percent for State-owned enterprises, according to the study, 2014 WPP BrandZ? Top 100 Most Valuable Chinese Brands, conducted by WPP and Millward Brown. The study's findings were released on Tuesday.
Despite the bonds between Chinese consumers and local brands on the basis of price and "fame", foreign brands are stronger in terms of difference — a key ingredient in a strong brand, which stimulates consumer loyalty and value growth, the study shows.
The trend of Chinese brands going global continues. The research also found that global consumers are more likely to purchase Chinese brands in the computer, technology or home appliance categories.
Chinese brands that get the highest proportion of their revenue from overseas markets are Lenovo, Air China and China Eastern Airlines.
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