TWO local companies are on the World’s 500 Most Influential Brands list for 2018. A total of 38 Chinese companies are featured on the list, Chinese-language media reported Thursday.

Shenzhen Internet giant Tencent ranks No. 39 and telecom manufacturer Huawei ranks No. 58 on the  brand list released by World Brand Lab, which tracks key indicators including market share, brand loyalty and global leadership.

Amazon, last year’s runner-up, beat out Google and Apple for the top spot this year.

World Brand Lab launched the list after refining its methodology against data covering more than 20,000 brands worldwide.

Amazon took first place for its significant progress in artificial intelligence (AI) and big-data technology. Google took second place and Apple fell to third place from second in 2017.

U.S.-based brands accounted for 223 entries, while France and the United Kingdom took second and third place with 43 brands and 42 brands, respectively. China, the world’s second-largest economy by GDP, is represented by 38 brands, enough for fifth place behind Japan.

The other Chinese brands include State Power Grid, Haier,  Qingdao Beer, Sinochem, Wu-liangye, Air China and Bank of China.

The brands on the list cover 57 industries, including 36 automobile and spare part brands and 35 brands from the media industry. The food and beverage industry slid to third, while in contrast, the Internet sector kept up its momentum with 25 brands, securing fourth place by surpassing the energy sector.

World Brand Lab has tracked more than 20,000 major brands in 50 countries since 2003 and maintains a comprehensive global brand database. Its annual list of the world’s 500 most influential brands is formally introduced at the annual World Executive Conference. (Han Ximin)