According to the “Hurun Most Valuable Chinese Brands 2016” report, Taobao has become the country’s most recognized and valuable brand for online shopping. Taobao is owned by the online giant Alibaba Group.
The approximate value of Taobao is about 230 billion yuan which is equal to HK$266.91 billion. Taobao was previously tailed by Chaina Mobile, valued 227 billion yuan and internet search leader Baidu in the third place which worth 218 billion yuan. The annual ranking is done by the Hurun Research Institute.
Now Taobao is in its eleventh year and the rankings are based on company’s market value and as well as feedback from one thousand Chinese consumers out of which 65 percent people have at least 8,000 yuan monthly income.
In anisolated report by KPMG, Alibaba affiliate Ant Financial Services was entitled among the 50 leading financial technology companies now functioning in China.
Other companies in this clusterinvolvedWeLab, Tenpay.com and Baidu Finance.
KPMG head of China banking Arthur Wang said those listed “were distinguished by their innovative business practices as well as … solutions for some of the biggest issues facing the financial services sector”.
In the Hurun report, Tencent Holdings dropped from top to 5th position, with a 210 billion yuan worth, as its social-messaging service WeChat was counted distinctly for the first time, itself coming in at 7th position with a 132 billion yuan value.
Alibaba payment serviceAlipay was rated at 18th position, with Tmall at 10th.
Regardless of their foremost positions, the actual brand worth of Taobao, China Mobile and Baiducontractedby13 to 14 per cent from last year.
On the other hand the total worth of the 200 brands covered in the particular study, half of which are privately owned, scaled64 per cent over three years, and 7 per cent year on year, to thebest ever4.6 trillion yuan.
The total value of the technology sector outclassed its dukes, rising 59 per cent year on year.
NetEase, the online game developer, saw its brand worth jump most, up 298 per cent to 17.5 billion yuan. It was tailed in the positions by telecommunications equipment maker Huawei Technologies, whose value heaved 293 per cent year on year to 55 billion yuan.
The tech sector was charted by the movie and television industry, with collective brand values inflammation 33 per cent year on year, then home appliance makers, whose brand values glided 22 per cent.
Rupert Hoogewerf, the chairman and chief researcher of Hurun Report, said he believes the brand value of technology syndicates to keep growing, as China’s economic primacy continues to accentuate domestic consumption and as many more technological trademarks become part of everyday life for more Chinese customers.