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Sorry Apple and Ikea, Chinese Shoppers Don't Love You Anymore

  • BMW, Estee Lauder, Ikea lose favor with Chinese shoppers
  • Alipay is No. 1 in annual brands ranking by consultancy firm
Bloomberg business news
Jesus Statues, Santa Hats and Rhinestone Camels: If It's Made in China, You Can Buy It in Yiwu
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Move over Apple and Nike. Chinese phone maker Huawei and food delivery giant Meituan Dianping have replaced you as some of China’s favorite brands.

The once-coveted brands of multinationals are losing ground to local companies in the world’s most populous country, according to a new report on the country’s 50 most relevant brands.