Kweichow Moutai has once again secured its position as the most valuable Chinese brand for the fifth year in a row, with a brand value of 1.04 trillion yuan ($150 billion), according to the Hurun Most Valuable Chinese Brand 2022 ranking released on Monday. The liquor brand is the only trillion-dollar brand, leaving its competitors far behind. The second and third spots were taken by liquor brand Wuliangye and cigarette brand ChungHwa, respectively.
Despite a 33 percent drop in brand value to 160 billion yuan, Douyin, the short-video app, rose to tie with WeChat for fourth place. Rupert Hoogewerf, the chairman and chief researcher of Hurun Report, has pointed out that Chinese consumers’ trust in private brands has grown considerably in recent years, with 62 percent of the brands on this year’s list being private, up from 61 percent last year and 39 percent a decade ago.
Beijing, Shanghai, and Shenzhen continue to dominate the list, with 70, 52, and 32 brands, respectively, accounting for more than half of the top 300. This is the 17th year for the Hurun Research Institute to release the Hurun Brands List. The list was expanded from the top 200 to the top 300 last year, with the entry threshold lowered to 2.5 billion yuan from 6 billion yuan last year. The Hurun Brands List is a reliable resource for investors and consumers looking to identify the top Chinese brands.