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(Yicai) June 21 -- China's 50 biggest brands, including ByteDance, Shein, and Xiaomi, increased their influence abroad by 17 percent last year, more than double the historical average, despite slowing global economic growth, according to a report by Google and Kantar.
A quarter of the top 50 are consumer electronics companies, according to the report released by the American search engine giant during the Google Marketing Live conference held today. The segment of smart devices grew its brand power the most at 61 percent.
The group of 50 includes major manufacturers such as Huawei Technologies and Lenovo Group, as well as gaming enterprises Tencent Holdings, NetEase, MiHoYo, and 37 Interactive Entertainment Network Technology Group. Moreover, eight automotive brands, including Chery Automobile, BYD, and Great Wall Motor, made the list.
Both traditional retail and domestic gaming companies enhanced their influence abroad, Deng Hui, channel sales director at Google China, said to Yicai. Moreover, financial services are performing well in Southeast Asia, and various favorable policies have also contributed to the recovery of the tourism market this year, Deng added.
The momentum of overseas expansion was prominent last year in two niche industries: short dramas and artificial intelligence tools, said Zhang Jun, vice president of marketing insights and solutions at Google China.
Retail and gaming are leading the way in the application of generative AI as both industries require more flexible advertising content. "This is because they constantly need to launch new products and games, leading to a greater use of AI," Deng explained.
Editor: Emmi Laine