This photo shows vehicles of Chinese electric car manufacturer NIO displayed at the 2023 World New Energy Vehicle Congress in Haikou, south China's Hainan Province, Dec. 7, 2023. (Photo/Xinhua)

Beijing - The overall brand strength of Chinese companies has increased by 17 percent from 18,035 to 21,150 year-on-year from 2023 to the first half of this year, reaching a new high in history, according to the Kantar BrandZ 2024 Chinese Global Brand Builders report.

Jointly compiled by the international market research firm Kantar and Google, the report, released on Thursday, surveyed global consumers from 11 international markets on their opinions about Chinese global brands. The brand strength scores were calculated, taking into account three major factors: meaningful, difference, and salient.

Grades of "meaningful" and "difference" for each brand are calculated based on the feedback of surveyed consumers. The "salient" is calculated by combining consumer behavior data, including traffic to a brand's official website, the number of active users of a brand's App, and the brand's search index on Google and YouTube.

The significant increase in the overall brand strength of Chinese companies highlighted the vitality of Chinese brands in the global market, said Doreen Wang, CEO of Kantar Greater China and global chair of Kantar BrandZ.

Wang also noted that the combination of China's industrial chain ecosystem and innovative technology has become a new competitive strength for Chinese global brands.