Top Chinese brands increase in value

Tencent Holdings Ltd, a major Internet services company in China, has overtaken Facebook Inc in terms of brand value, boosted by its rising revenue and large number of loyal users, according to a survey on the value of the global top brands.

The Shenzhen-based company has seen a 52 percent rise in brand value compared with last year. It continued to draw more users to its instant messaging service and other offerings, and has 800 million active and loyal users, according to the BrandZ Top 100 Most Valuable Global Brands study, commissioned by WPP and conducted by Millward Brown Optimor.

The ranking is compiled using the views of the potential and current buyers of a brand, alongside financial data.