Tencent Tops List of China's Most Valuable Brands

(Beijing) – Technology giant Tencent Holdings Ltd. is China's most valuable brand, proof that private companies are becoming more competitive and their state-owned cousins less so, says a report by analysts at a leading global advertising and public relations company.

The report was published recently by Millward Brown, the brand analysis arm of WPP.

This is the first time that a private-sector company has topped the list. China Mobile, a state-owned enterprise, topped the annual list since the first one was published in 2010, but had to settle for No. 3.