Top 10 Chinese Brands in Asia

Asia Brand Association released its ranking of top 500 brands in Asia on Sept 9, 2014.

The ranking is based on Asia Brand Assess System (ABAS), which assesses scores from four perspectives, market performance, growth potential, product quality and business effectiveness. The four perspectives are then divided into 10 indicators, making the total score 10,000.

Samsung Group from Korea topped this year's list with a score of 9,961. Two Chinese firms, ICBC and Evergrande, were among the top 10.

Let's take a look at the top 10 Chinese brands that score the highest on the list.

No 10 China Development Bank

Rank on the list: 20

ABAS Score: 9,172

China Development Bank is a Chinese financial institution. It was founded in 1994 and is primarily responsible for raising funds for large infrastructure projects in China.

No 9 State Grid

Rank on the list: 19

ABAS Score: 9,197

State Grid Corporation of China is the largest State-owned electric utility company in the world. It was founded in 2002 and is responsible for transmitting and distributing power around China. It is also the seventh-largest in the world, according to the 2011 Fortune Global 500 ranking.

No 8 Sinopec

Rank on the list: 16

ABAS Score: 9,337

China Petrochemical Corporation, also known as Sinopec Group, is China's largest oil refining and petrochemical enterprise and was founded in 1998. Sinopec ranked third on Fortune Global 500 list in 2014. The revenue of the firm is 2,945.07 billion yuan($480.68 billion) in 2014.

No 7 Alibaba

Rank on the list: 15

ABAS Score: 9,339

Alibaba Group Holding Limited is a Chinese Internet-based e-commerce company, dealing in business-to-business online web portals, online retail and payment services, a shopping search engine and data-centric cloud computing services.

The group was founded in 1999 and made its IPO at New York Stock Exchange on Sept 19, 2014. Alibaba's IPO reached $25 billion, making it the largest IPO in history.

No 6 CNPC

Rank on the list: 14

ABAS Score: 9,341

China National Petroleum Corporation is a Chinese State-owned oil and gas corporation and the largest integrated energy company in China.

CNPC is also the parent of PetroChina, the fourth-largest company in the world, in terms of market capitalization as of July 2014.

No 5 China Mobile

Rank on the list: 13

ABAS Score: 9,348

China Mobile Communications Corporation was founded in 2000 and is a State-owned telecommunication company that provides mobile voice and multimedia services through its nationwide mobile telecommunications network.

No 4 Wuliangye

Rank on the list: 12

ABAS Score: 9,387

Wuliangye Group Co Ltd is a Chinese alcoholic beverage company. It specializes in manufacturing baijiu and the company was founded in 1997.

Headquartered in Yibin, Sichuan province, the company distributes its products all over the domestic market, and exports to overseas markets.

No 3 Haier

Rank on the list: 11

ABAS Score: 9,390

Haier Group is a Chinese multinational consumer electronics and home appliances company.

It was founded in 1984 and designs, develops, manufactures and sells products including air conditioners, mobile phones, computers, microwave ovens, washing machines, refrigerators, and televisions.

No 2 Evergrande

Rank on the list: 9

ABAS Score: 9,404

Founded in 1997, Evergrande Group is an integrated corporation specialized in residential building, cultural tourism, FMCG, agriculture, dairy, livestock farming and sport industry.

No 1 ICBC

Rank on the list: 3

ABAS Score: 9,734

Industrial and Commercial Bank of China Ltd is the largest bank in the world by total assets and market capitalization.

It was founded in 1984. In 2013, the bank ranked number one on Forbes Global 2000 list of world's biggest public companies.

(Source: China Daily)