The ranking counts Alibaba on its own, excluding its affiliate Ant Financial, which operates the electronic payments platform that for Alibaba`s online shopping.
The combined worth of the 100 most valuable Chinese brands expanded to hit a new high in 2017, boosted by rapid growth in the technology, travel and education sectors, according to a report published on Monday.
Alibaba Group, owner of the South China Morning Post and operator of the world`s largest online shopping platforms, takes second place with a brand value of US$58 billion, up 22 per cent from a year earlier.
As a whole, the brands grew 6 per cent to a total value of US$$557.1 billion despite the mainland`s economic slowdown, said the report compiled by Kantar Millward Brown, a consumer insights research agency under the world`s largest advertising firm WPP.
More from the South China Morning Post:Chinese retailers drop Lotte amid Beijing`s ire over THAADNon-state-backed China brands make global markChina still banking on `irreplaceable` central bank chiefTechnology giant Tencent Holdings remained China`s most valuable brand, growing by 29 per cent to US$106 billion thanks to the popularity of social media platform WeChat, according to the 2017 BrandZ Top 100 Most Valuable Chinese Brands.
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