Chinese Brands Grow in Value Despite Slowing Economy: Report
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Newly released information on China's top 100 brands showed that the total value of these companies have risen 13 percent, despite economic downturn in 2015.

The annual report was released by British advertising giant WPP and its market research unit Millward Brown.

Internet giant Tencent is still crowned as China's most valuable company according to the report. Its value grew to 82 billion U.S. dollars, equivalent to Norway's annual GDP.

The infographic shows the development roadmap of Tencent since 1999. [Photo:Tencent.com]

China Mobile and Alibaba bring up second and third on the chart.

Telecoms brand Huawei and online retailer JD.com were some of the new faces to break into the higher standings.

"These faster-growing brands predominately are market-driven," said David Roth, CEO of The Store, WPP. "In other words, as China rebalances to a consumption-driven economy, the faster growing brands are those that depend less on government and more on effectively meeting consumer needs in ways that are Different and Meaningful," he added.

For the first time, brands owned by private companies have contributed to more than half the value of the top 100.

This shows China's continuing transition to a market economy.

Author： 　　　Source：CRI　　　 Editor：Yang Fan