ITG holding ranks 360th on the Fortune Global 500 in 2018. [Photo/itgholding.com.cn]

World Brand Lab released a report on China's 500 most valuable brands in 2019 in Beijing on June 26. 

Four State-owned enterprises based in Xiamen, Fujian province, were listed with a total brand value exceeding 150 billion yuan ($21.81 billion). They were Xiamen ITG Holding Group (134th), Xiamen C&D Corporation (139th), Xiamen Xiangyu Group (143rd) and Iport Group (208th). Several other well-known Xiamen brands, including Xiamen King Long United Automotive Industry Co and Xiamen Yinlu Food, were also on the list. 

Fujian province has 36 local brands on the list, including garment giants K-boxing and ANTA, accounting 7.2 percent of the national total and ranking closely behind Beijing, Guangdong, Shandong and Shanghai. 

State Grid topped the list with a brand value of 457.54 billion yuan, followed by the Industrial and Commercial Bank of China (415.68 billion yuan), Haier (407.59 billion yuan), Tencent (406.73 billion yuan) and China Life Insurance (353.99 billion yuan). 

This year's entrants all saw their brand value surpass 2.52 billion yuan, a year-on-year increase of 63.8 percent. The gross brand value of China's top 500 enterprises reached 21.87 trillion yuan, rising 18.57 percent over last year. The brands' average value was 43.74 billion yuan. 

The report on China's 500 most valuable brands has been released for 16 consecutive years and is based on a present earning value method which integrates the companies' financial performance, brand popularity and consumer behaviors.