Most valuable tobacco brands in China 2023

As of 2023, Chunghwa was China’s most valuable tobacco brand, with a market value of 215 billion yuan. Second place went to Furongwang, which has a market value of approximately 80 billion yuan. 

Cigarette producers in China

In response to the urgent demand for tobacco control, in 2015, China raised the VAT for cigarette products from five percent to 11 percent. Consequently, many Chinese tobacco manufacturers recorded zero profits or losses. A number of small-sized tobacco producers in Chine exited the market due to the high competition. Nevertheless, China’s main tobacco manufacturers still maintained a massive revenue each year.

Chunghwa cigarettes

Modern cigarettes were brought to China by western colonists in the late 19th century. In 1902, the American Tobacco Company established the first cigarette factory in Beijing. Many foreign tobacco businesses entered China in the next decades and dominated the market. After the establishment of the republic in 1949, China was devoted to building up its own premium cigarette brand. In 1951, Chunghwa was introduced to the public by the Shanghai Tobacco Group and has become one of the most popular cigarette brands among Chinese smokers since then.