Tencent is now China’s first US$100 billion brand
Alibaba overtook China Mobile for second place
Advertising agency WPP and Kantar Millward Brown has ranked tech giant Tencent as China’s most valued brand, at US$106.2 billion, reports CNBC. Tencent’s climb up the latter, up US$24 billion in 2016 alone, marks the first time a Chinese brand has broken the US$100 billion mark. Tencent leads Alibaba (US$58 billion), which overtook China Mobile for the number two spot.