China's private companies are becoming increasingly successful in making their brand better known, particularly overseas, according to a study released on Tuesday.
The third annual BrandZ Top 50 Most Valuable Chinese Brands study - jointly produced by WPP Plc, the world's largest marketing communications company, and Millward Brown, the global market research company - shows that the share of privately owned enterprises in the top 50 rose to 27 percent, up from 22 percent in 2011.
The privately owned high-tech companies Baidu Inc and Tencent Inc were ranked fourth and fifth, respectively.
On the list of companies making their brands better known internationally, meanwhile, four of the top 10 are run by private entrepreneurs: Lenovo Group Ltd, the apparel company Youngor Group, the home appliance producer Midea Holding Co and Gree Electric Appliance Inc.
The brand ranking considers financial and market data, consumer research, and covers both corporate and consumer brands.
The calculation of brand value also takes into account a brand's growth potential.
Doreen Wang, head of branding at Millward Brown China, said that in contrast to State-owned companies, the country's leading private businesses are more market-driven, having been set up in response to market needs.
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