Technology giant Tencent Holdings Ltd has become the most valuable Chinese brand, followed by Alibaba Group Holdings Ltd and China Mobile. The three companies were listed in the top 20 of the 100 most valuable global brands in 2017 released by BrandZ this month.

With the increasing popularity of WeChat, an instant messaging tool developed by Tencent, the share price of Tencent, China's largest internet portal, surged about 60 percent in the past 12 months.

Among the total, technology brands dominate the list. US brands rose 12 percent in value year-on-year, and other brands declined 1 percent, except Chinese brands, which grew 1 percent. Thirteen of the global top 100 brands are based in China, up from only one brand, China Mobile, 12 years ago.