The World Brand Summit and China's 500 Most Valuable Brands news release event in Beijing, June 19, 2024. [Photo courtesy of organizers]

China Duty Free Group (CDFG), a subsidiary of China Tourism Group Corporation Limited (CTG), has been named one of China's 500 Most Valuable Brands 2024 by the World Brand Lab at the recent 21st World Brand Summit in Beijing.

CDFG ranked 60th overall with a brand value of 129.347 billion yuan, maintaining its top position in the travel services industry.

World Brand Lab is an international brand value research institute owned by World Executive Group, the world's leading digital business and strategy consulting firm. Nobel Laureate Robert Mundell co-founded the lab and served as its first chairman. Many companies rely on World Brand Lab's research when valuing intangible assets during mergers and acquisitions.

This year's World Brand Summit focused on "Disruption and Reinvention: A roadmap for enhancing brand value through digital technology." Renowned management scholars from top universities worldwide, including Harvard, Yale, Oxford, and Peking University's Guanghua School of Management, attended the meeting and delivered keynote speeches. The event also included interactive discussions on artificial intelligence and its applications in brand marketing.

China's 500 Most Valuable Brands 2024 are collectively worth 38.57 trillion yuan, a 12.35% increase from last year. CDFG once again led the travel services industry ranking. This achievement highlights CTG's leading position in tourism and showcases CDFG's strong performance in both domestic and international duty-free markets.

Looking forward, AI is expected to play a crucial role in boosting brand value. CDFG is focusing on how to achieve breakthroughs and innovation. With strong backing from its parent company, CDFG aims to strengthen communication and collaboration with industry partners. The company is focused on continuously innovating its brand marketing strategies, enhancing customer engagement, leveraging emerging technological opportunities, and fostering deeper brand awareness and loyalty.