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ICBC Tops China’s Brand Value List

Recently, the results of 2019 Chinese brand value evaluation was officially released in Shanghai. Industrial and Commercial Bank of China (“ICBC”) tops China’s Brand Value List for the fourth consecutive year since 2014, with a brand value of RMB293.129 billion.

It is introduced that the 2019 Chinese brand value evaluation covers corporate brands, product brands, regional brands, technical innovation brands, and China’s time-honored brands. The corporate brands and product brands relates to Chinese industries with industrial advantages, much contribution to gross national product (GNP), sound foundation of brand building and mature brand evaluation conditions. Brand strength coefficient (including quality, service, technical innovation, and intangible assets) and brand value are obtained by evaluating and scoring each enterprises separately on the basis of the national brand evaluation standards for 13 industries. ICBC stands out in both brand strength and brand value with its stable and sound business results and market performance.

Since its establishment, ICBC has been accumulating brand assets and enhancing brand value with its excellent services and business performance, which has developed from a well-known local bank into a renowned one all over the world. In addition, ICBC ranks top in a number of international authoritative lists. As of the end of 2018, ICBC had ranked first among Top 1000 World Banks by the British magazine The Banker, the Forbes Global 2000 and the sub-list of commercial banks of Fortune Global 500 for six consecutive years. It had topped the Top 500 Banking Brands of the Brand Finance for three consecutive years. All this demonstrates ICBC’s strong overall strength and brand influence.

The Chinese brand value evaluation event was initiated by General Administration of Quality Supervision, Inspection and Quarantine of the People’s Republic of China for Chinese self-owned brands. This year, nearly 1,300 enterprises were evaluated, and 600 new brands were released with the total brand value of over RMB7.4 trillion. The evaluation event bears strong witness to the upgrading and improvement of Chinese brand.