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China's Tencent brand valued at US$34 bil., nearing Wal-Mart

BEIJING--Internet services company Tencent Holdings Ltd. has grown so rapidly it's now China's most valuable listed technology brand, with a value even closing in on that of Wal-Mart Stores Inc, a report published on Tuesday shows.

The Tencent brand is worth about US$33.9 billion even though it's almost unknown outside its home turf, according to an annual ranking of China's listed companies compiled by advertising company WPP Plc and its research affiliate Millward Brown.

Global retailer Wal-Mart was valued at US$36 billion in this year's WPP-Millward Brown global ranking, published in May.

The annual rankings, based on analysis of a brand's revenue and consumer responses to it, make Tencent the first technology company to break into the top three of China's most valuable brands.

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