A total of 38 Chinese brands have been ranked on the newly released 2018 edition of the World’s 500 Most Influential Brands list from brand consulting and research firm World Brand Lab on Dec 19. Brands from 28 countries are included in the list, with Amazon, Google and Apple grabbing the top three spots.

State Grid, Tencent and Haier are the three Chinese companies with the highest rankings, landing at the 30th, 39th, and 41st spots respectively on the full list.

The list, published annually since 2004, tracks three key indicators: market share, brand loyalty and global leadership, according to worldbrandlab.com.

Some 223 entries, nearly half of the total, are from the United States, 10 less than last year. France and the UK each have 43 and 42 entries this year, finishing in second and third, respectively, with both gaining three spots in 2018.

China ranks fifth on a sub-list, Top 10 Countries with the Most Brands Selected, with 38 entries in 2018, up one from last year and two from 2016. Representative brands include State Grid, Tencent, Haier, ICBC and Wuliangye.

The 30-year-old Chinese insurance company Ping An is the second-fastest rising star this year, jumping 52 spots from 231st last year to 179th this year.

The Chinese companies ranked on this year’s list are from multiple industries, with energy, food and beverage, bank, internet, computer and communication, telecom, and media the biggest winners, said the report.