China's leading brands 'are mostly banks'

The majority of China's leading brands are banks, it has been noted.

Beijing-based Forbes journalist Stan Abrams said much has been made recently about China's economic potential.

He noted this was especially the case following the publication of the recent Brandz Top 100 Most Valuable Global Brands 2010 survey, a list which included seven Chinese companies.

Mr Abrams pointed out that the companies on the list included four banks, with Bank of China, China Construction Bank and China Merchants' Bank among them.

While this may be good news for those headhunting banking executives in the country, Mr Abrams stated the figures do not confirm that China is on its way to global brand dominance.

"Try a consumer product, restaurant chain or an Internet company, and then we can reassess," he said.

According to a recent article in the Financial Times, many western banks are planning to recruit more staff in Asia.

It named Barclays, Deutsche Bank and Standard Chartered among those seeking to take on more employees in the region.