Domestic brands see major rise in value

BEIJING - The combined brand value of Chinese companies will rise to $911.5 billion in 2018, nearly ninefold that of 10 years ago, Brand Finance said in a report.

China's share of the global brand value rose to 15 percent this year from 3 percent in 2008, ranking second after the United States, according to the consultancy firm's annual report on the world's most valuable brands.

Twenty-two Chinese brands were listed in the top 100, with Industrial and Commercial Bank of China holding its 2017 rank as the 10th most valuable brand in the world.