Yantai companies among China's 500 most valuable brands
Updated : 2020-08-10
(chinadaily.com.cn)
Five Yantai companies were included on the list of China's 500 most valuable brands announced at the 14th World Brand Summit in Beijing on Aug 5.
The five companies are Zhaojin Group, Linglong Tire Company, Luhua Group, Changyu Group, and Weilong Grape Wine Company.
The total combined brand value of the five companies was 172.17 billion yuan ($24.71 billion), up 14 percent from last year.
The World Brand Summit was hosted by the World Brand Lab, which is recognized as an authoritative international brand value research institute.
Brand plays an important role in promoting regional development, as it drives the growth of the regional economy, which in turn promotes the growth of more local brands.
In recent years, Yantai has been focusing heavily on the development of local high-quality brands. The city government plans to continue improving its regional branding and expanding its market in order to stimulate local industrial development.