ICBC named China's most valuable brand

A total of 598 domestic companies valued at over 7.4 trillion yuan ($1.1 trillion) combined comprise China's most valuable brands, according to a list published Thursday in Shanghai.

The list was published by the China Council for the Promotion of International Trade, China Council for Brand Development, China Appraisal Society and Xinhua News Agency.

It is the sixth consecutive year of the list's publication, with 1,293 brands surveyed.

The Industrial and Commercial Bank of China (ICBC), the largest Chinese commercial bank in terms of market value, topped the rankings, with its brand value standing at over 293 billion yuan.

Tan Jiong, ICBC vice-president, said that they have stressed for the bank's strategic plans to seek sustained growth, which lays a solid foundation for brand value.

The bank's extensive global network and dedication to serve the real economy also help to build brand image, he said.

Chinese baijiu brand Kweichow Moutai is China's most valuable regional brand, with its value reaching 288.6 billion yuan, while domestic car manufacturer Geely Auto won top place among all product makers with its brand value reaching 31.4 billion yuan.

Fujian-based Dali Foods Group stood out among technology innovation brands, with its brand value coming in at 20.2 billion yuan.

Century-old brewing company Tsingtao Brewery led all legacy brands, with its brand value reaching 43.4 billion yuan.