Four companies in Shenzhen, namely Huawei, Tencent, Ping An Insurance and China Merchants Bank, were included in a 2017 Brand Finance Global list of the world’s most valuable brands, the Shenzhen Special Zone Daily reported.

The four companies were ranked at 40th, 47th, 79th and 91st place on the list, respectively. All of them moved up in the ranking compared with last year.

Among all of the 500 companies listed, 55 are from China, 16 of which made it into the top 100.

Most of the top 10 companies on the list were technology corporations. The top three places were taken by Google, Apple and Amazon, followed by Microsoft, Samsung and Facebook.

Brand Finance is a globally well-known strategic consulting and brand value company. Each year, the company releases its global list of the top 500 most valuable brands.