Tech giants brand value on the up

Chinese technology giants' brand value gained momentum and financial service companies are in pole position in the global brand league table, according to a report.

Fifty-five Chinese companies made to the list of the world's 500 most valuable brands this year, with the technology sector soaring in value.

Three tech powerhouses - Alibaba Group Holding Ltd, Huawei Technologies Co Ltd and Tencent Holdings Ltd - were in the top 50 and realized double-digit growth in their brand value, according to a study conducted by United Kingdom-based consulting firm Brand Finance.