2019 China Brand Development Summit, the first activity of the "May 10 China Brand Day", was held in east China's Shanghai on Thursday. "May 10 China Brand Day" was hosted by Xinhua News Agency, Economic Daily, China Council for the Promotion of International Trade, CCBD, and China Appraisal Society, and co-hosted by China Economic Information Service and other institutions. At the summit, the China brand value evaluation list was released, with the Chinese bank ICBC ranking first for its brand value of about 293 billion yuan. The list has been released for six years in a row. It is reported that 1,293 brand candidates participated in the brand evaluation this year with 589 brands making it on this list. Their combined brand value totals about 7.4 trillion yuan. According to the evaluation results, ICBC ranks first in the enterprise brand value list, with a brand value of about 293 billion yuan. Kweichow Moutai wins the top spot in the geographical indication regional brand value list, with its brand value of about 288 billion yuan. Geely Auto Group occupies the highest position in the product brand value list, with a brand value of about 31.4 billion yuan. Dali Foods has the highest value among the technological innovation brands, with a brand value of about 20 billion yuan. Tsingtao Brewery with a brand value of about 43 billion yuan is far ahead among the China time-honored brands. At present, 20% of the world's well-known brands have boasted an 80-percent market share, and the developed countries have entered the era of brand economy. It has become a top priority to accelerate "going global" of Chinese brands and promote high-quality economic development, said Liu Pingjun, chairman of the China Council for Brand Development. Experts at the summit also pointed out that it is necessary to take multiple measures to help cultivate world-class brands. Xu Kunlin, deputy mayor of Shanghai, pointed out that Shanghai is building a new model for brand evaluation featuring third-party voluntary certification, taking actions to revitalize the local time-honored brands, and actively promoting the brand cultivation demonstration project. In addition, the media has also played an important role in enhancing the brand value. In June 2017, Xinhua launched the "National Brands Project" to help promote Chinese enterprise brand development. SOURCE:China Economic Information Service