New analysis from market observation firms Kantar Millward Brown and Wire & Plastic Products Group now lists Tencent as China's most valuable brand.
The analysis is part of the group's "2018 BrandZ Top 100 Most Valuable Chinese Brands" ranking and report.
The report says the total value of the Top 100 Chinese brands has come in at $683.9 billion to start this year. This would represent 23% growth compared with the start of last year.
With a brand value of $132.2 billion, Tencent tops the list for the 4th year in a row.
E-commerce giant Alibaba now has an estimated brand value of $88.6 billion, a 53% year-on-year rise.
Other noteworthy sectors performing well are education, logistics and technology.
"Chinese customers pay increasing attention to brands, and top brands affect purchasing to a great extent," said Wang Xing with Kantar Millward Brown.
The 2018 BrandZ China Top 100 is based on interviews with over 400,000 Chinese customers, as well as analysis of financial data, market evaluation and risk prediction.
