Internet firms surge in rank as banks hold fast

The Chinese Internet industry has been growing by leaps and bounds this year, with leading service providers seeing the value of their brands soar, Interbrand, the world's largest brand consulting firm, said on Wednesday.

It's the sixth time Interbrand has released its Best China Brands List.

The rankings are compiled using companies' sales revenue, independent consumers and market research.

Shenzhen-based information technology service provider Tencent Holdings Ltd became the fastest-growing brand in China, with its brand value up by 84 percent to more than 90 billion yuan ($14.78 billion).

An advertisement for Tencent Holdings Ltd's WeChat app in Beijing. The company became the fastest-growing brand in China, with its brand value up more than 90 billion yuan ($14.78 billion). [Photo / Provided to China Daily]

Tencent's stupendous growth dwarfed 2012's fastest-growing Chinese liquor brand Kweichow Moutai Co's 30 percent and saw it leapfrog from eighth place to No 4 in 2013.

Most agree its rapid growth can be largely attributed to the success of its instant messaging tool WeChat. The number of WeChat users increased by four times to reach 400 million.

"Tencent has devoted much effort to build its brand by providing first-rate service to its customers, which is the core value of the company," said Thomas Chen, managing director of Interbrand China.

Tencent's ascendancy is in line with a trend seen in this year's Forbes' China Rich List, said Russell Flannery, Shanghai bureau chief of Forbes China, as Internet businesses are bringing in the most wealth in 2013.

Pony Ma, co-founder and chairman of Tencent, is ranked fifth on Forbes' 2013 list, with a personal wealth of 62.2 billion yuan, up from 39 billion yuan last year.

Search-engine service provider Baidu Inc saw its brand value surge by 57 percent to put the company at No 11 on this year's list. Its growth rate is the fourth-fastest among the top 50 brands. Baidu's rapid growth also has brought wealth to Chief Executive Officer Li Yanhong, who is ranked third on this year's Forbes China Rich List, with a personal net worth of 67.7 billion yuan.

Chinese Internet portal Netease Inc also saw its ranking rise, from 32nd place last year to 29th.