Established in 2017, China Brand Day is commemorated on May 10 each year. Promoting Chinese brands to global consumers, this year's China Brand Day events are held at the Shanghai World Expo Exhibition and Convention Center from May 10 to 14. 

With the theme of "China Brand, Global Sharing", the 2023 China Brand Day sees roughly 1,000 Chinese enterprises showcasing their products at the Shanghai exhibition.

Top Chinese brands secured 79 spots in 'Global 500'

Over the years, Chinese brands have become more recognized and valuable in the global market. In the Global 500 2023 Report published by Brand Finance, a world leading independent brand valuation consultancy, Chinese brands secured 79 places on the list of the world's 500 most valuable brands. 

China has the second highest combined value of brands in the "Global 500" list, just behind the United States. The aggregate value of China's 79 brands reached $1.4 trillion, accounting for 18 percent of the top 500 brands' total value.

Chinese brands shine in various sectors

The Industrial and Commercial Bank of China (ICBC) and Internet company ByteDance's TikTok/Douyin were the highest ranked Chinese brands, respectively at 7th and 10th place on the list.

ICBC's brand value was $69.5 billion in 2023, the highest among Chinese brands, meanwhile the brand value of TikTok/Douyin reached $65.7 billion.

As one of the "big winners" in brand value highlighted by the report, Chinese electric car manufacturer BYD's brand value surged 57 percent to $10.1 billion this year. This was due to a growing demand for new energy vehicles (NEVs) in China, as part of the country's "broader transition to a low carbon economy," said Brand Finance.

Utility company State Grid Corporation of China, renowned Chinese liquor brand Kweichow Moutai and leading provider of information and communications technology infrastructure Huawei also topped the rankings.