Chinese brands gaining ground abroad
March 29, 2016 Category Retail, Weekly
Chinese brands, especially those from the technology sector, continue to earn an increasing proportion of their revenue from overseas, according to the newly released 2016 BrandZ Top 100 Most Valuable Chinese Brands list. The top three brands with the greatest proportion of revenue from overseas business include Lenovo Group, with 68% of its revenue from international business, followed by Huawei Technologies, a newcomer to the ranking with 62%, and ZTE Corp with half of its revenue from business overseas. The expansion of international business is especially important as the growth of the domestic economy slows and Chinese companies attempt to raise awareness of Chinese brands. They are increasingly gaining more revenue and market share not only in emerging markets but also from developed markets. According to the survey, 15 of the top 20 Chinese brands in terms of overseas revenue come mainly from three categories, including six from home appliances, five from airlines and four from technology. Half of the top 20 brands are market-driven and half are state-owned enterprises (SOEs), mostly in the oil, gas and banking sectors, the China Daily reports.
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