Amazon, Apple world's most valuable brands but China's rising: Survey

Amazon and Apple are the world's most valuable brands but Chinese brands are rising up the leaders list and are more valuable than Europe's top brands, according to a global ranking by Kantar's BrandZ.

Amazon, founded in 1994 by Jeff Bezos, remained the world's most valuable brand with an estimated value of $684 billion, followed by Apple, founded in 1976, at $612 billion and Google at $458 billion, Kantar said.

Tencent, China's biggest social media and video games company, was the People's Republic's top brand, in fifth place, while Alibaba was in seventh place.

"Chinese brands are steadily and slowly progressing, and have made significant headway as more companies leverage their own technological developments and demonstrate their abilities to align with the major trends shaping China and the global market," said Graham Staplehurst, global strategy director at Kantar BrandZ.

Five brands more than doubled their value, led by Chinese e-commerce giants Pinduoduo and Meituan, China's top liquor maker Moutai, China's TikTok and America's Tesla.