The 2020 Brand Evaluation news conference is held in Beijing May 10. The evaluation is expected to help Chinese companies better build up their brand images and stimulate consumer spending. [Photo/Official WeChat account: zjgcitynews]

Eight Zhangjiagang-based enterprises were included on a national brand evaluation list, according to news released at the 2020 Brand Evaluation news conference in Beijing May 10, the fourth China Brand Day.

Jiangsu Shagang Group, a World Top 500 enterprise, which is headquartered in Zhangjiagang and is the largest private metallurgical enterprise in China, enjoys brand value of 17.88 billion yuan ($2.52 billion), the second highest in the country's steel industry.

Statistics show that the eight Zhangjiagang firms on the national brand evaluation list have a combined brand value of 40.14 billion yuan.

Hosted by the China Council for Brand Development and the China Appraisal Society, the activity determined the value of 830 brands in different sectors and published the rankings of 564 brands with total brand value of 7.36 trillion yuan ($1.04 trillion), an increase of 5.1 percent year-on-year.

Among the 564 brands, there are 15 enterprises with brand value exceeding 100 billion yuan, including Chinese tech giant Huawei and the Industrial and Commercial Bank of China.