Most valuable Asian brands 2023
Across Asia, multinational conglomerate Tencent was ranked as the most valuable brand with a brand value of approximately 141 billion U.S. dollars. Thus, it surpassed its competitor Alibaba in that year.
The digital economy in China
Alibaba Group Holding Limited specializes in e-commerce, retail, internet and technology. Its businesses include core commerce, cloud computing, digital media and entertainment as well as innovation initiatives. The Chinese e-commerce giant was the second-most valuable retail brand after Amazon. Among its subsidiaries are AliExpress, Taobao and Ant Financial. Recently, the conglomerate acquired Lazada, the largest e-commerce operator in Southeast Asia.
In 2017, Alibaba’s competitor Tencent Holdings Limited made it into the $500 Billion Club by year-end. Its portfolio includes Tencent Games, Tencent Pictures and WeChat, the leading social media network in China. The conglomerate also has numerous strategic business partnerships with leading international companies such as Spotify, Warner Music Group and Sony.
Considering this, it shows that the digital market is highly evolved and successful in China. By 2019, China is predicted to overtake the United States in terms of digital B2C market revenue.
