Six new Chinese names debut on '2023 World's 500 Most Influential Brands' list

(ECNS) -- World Brand Lab released the World’s 500 Most Influential Brands 2023 on Wednesday. China secured the third position with 48 local names, among which POLY, TikTok, China Huadian, TONGWEI, CNAF, and Bosideng are all new.

The 2023 list includes brands from 32 countries, in which the United States takes the dominant place with 193, followed by France, China, Japan and the United Kingdom. Chinese brands like State Grid, Tencent, Haier and Huawei have maintained their level of competitiveness.

The list covers 47 industries, with food and beverage on the run, followed by the automobile and retail industries. Among them, 225 brands including four Chinese names, are over 100 years old, accounting for 40 percent of the total.

According to Steve Woolgar, chairman of the World Brand Lab Academic Committee and Emeritus Professor of Marketing at the University of Oxford, economic fragility and geopolitical tensions pose challenges for most multinational brands.

Jing Xu, professor of Marketing at Peking University, suggests that brands can only achieve sustainable development by benefiting humanity and the world as a whole.

Founded by Professor Robert Mundell, the Nobel Prize-winning economist, the World Brand Lab is an internationally recognized brand consulting, research, and evaluation organization.