With a value of $204.38 billion, tech giant Tencent takes the crown as the most valuable brand in China, according to the 2022 Kantar BrandZ Top 100 Most Valuable Chinese Brands ranking.

Alibaba, a tech giant based in Hangzhou, capital of East China’s Zhejiang province which was valued at $137.03 billion, came in second place, followed by alcohol brand Moutai ($108.49 billion) and short video app Douyin ($43.48 billion).

This year, the total value of the top 100 Chinese brands surpassed the monumental $1 trillion mark for a second successive year, reaching $1.24 trillion.

A total of 12 newcomers made it onto the Chinese brand rankings this year, led by lifestyle-focused social platform Xiaohongshu and intelligent speech and AI technology company iFLYTEK.