The values of 100 leading Chinese brands topped 1 trillion U.S. dollars for the third straight year this year, according to a report on the 2023 BrandZ Top 100 Most Valuable Chinese Brands released by the international market research firm Kantar on Friday.

The total value of the top 100 Chinese brands stood at 1.01 trillion dollars this year, said the report. Tencent was crowned top with a brand value of about 144.11 billion dollars.

The internet giant Alibaba, and liquor producer Kweichow Moutai ranked second and third, registering brand values of 90.19 billion dollars and 88.43 billion dollars, respectively.

Alcohol, apparel and automobile sector brands, with total values of 175.89 billion dollars contributed the most to the total value of the 100 Chinese brands. The apparel sector saw a skyrocketing 327 percent year-on-year growth rate in brand values in the past year, according to the report.

In terms of calculations, the brand value is the multiplication of financial value by brand contribution of each company featuring in the top 100 of the rankings.