BEIJING: China Mobile, the biggest wireless network provider in the world, has been named as the most valuable brand in China by a new report.

According to figures from Interbrand, the consultancy which is part of Omnicom Group, the China Mobile brand is worth 202.8bn yuan ($29.9bn; €23.9bn; £19.7bn).

The telecoms company had 549 million customers as of May 2010, and has added an extra 27 million subscribers to its user base since the start of 2010.

China Life Insurance took second spot in the rankings on 99.5bn yuan, with the financial sector as a whole dominating the top ten.

The China Construction Bank, Industrial and Commercial Bank of China, Bank of China, Ping An Insurance, China Merchants Bank and China Pacific Insurance all featured in this group.

The only organisations to break this near-monopoly were Tencent, which operates a range of web portals, and Kweichow Moutai, the liquor specialist.

Looking more broadly, the consumer electronics category performed strongly, with Midea, Suning, Haier, Gree, Gome and Hisense all representing this industry.

Lenovo, the IT giant and one of China's best-known corporations internationally following its purchase of IBM's computing arm in 2005, also made the list.

Baidu, the owner a variety of internet services including the pre-eminent search engine in China, was another well-regarded brand.

Elsewhere, Interbrand name-checked Sohu and Netease, which like Baidu run a suite of online platforms, Alibaba, the B2B e-commerce property, and Ctrip, the travel site.

Wuliangye, Tsingtao and Changyu Pioneer were two of leading players in the alcoholic drinks segment, with Mengniu and Yurun assuming this position among food and beverage manufacturers.

BYD Auto, Dongfeng Motor and Geely Holdings staked a claim for the rapidly-emerging Chinese automotive sector.

Bosideng International and Shanghai Metersbonwe Fashion were argued to be the most valuable fashion brands, a role adopted by Anta, 361 Degrees, Peak and Li-Ning for sportswear.

Despite the substantial growth being enjoyed by many Chinese firms, Serge Dumont, chairman of Omnicom's Asian unit, suggested further progress was still required.

"We have yet to see the creation of a truly global Chinese global brand … on [a] par with Sony or Nike, but it's just a matter of time," he said.

A major obstacle at present is product safety, following on from high-profile complaints linked to everything from Chinese baby milk to car tyres in the last few years.

"Country-of-origin issues are probably the single biggest brand-management issue facing China today," Dumont continued.

More positively, he reported that Gree has now expanded into 70 countries, while carmaker Chery has a network extending into 50 markets.

Data sourced from Forbes; additional content by Warc staff