The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province on July 20, 2018. [Photo/Agencies]

China's 100 most valuable brands have seen their total value rise 12 percent year-on-year to $996.4 billion this year, according to the 2020 BrandZ Top 100 Most Valuable Chinese Brands list released by global communication services provider WPP and Kantar in October.

Internet giant Alibaba Group Holding Ltd took the top spot, growing by 9 percent to $153.29 billion, followed by Tencent with $150.98 billion.