Qingdao Port of Shandong Province Port Group was on the list of this year's top 500 Asian brands. Compiled by the New York-based consultancy World Brand Lab, the list was unveiled on Aug 27 at the 2019 Asia Brand Summit in Hong Kong.

Qingdao Port is the only Asian port enterprise on the list.

Li Fengli, general manager of Shandong Province Port Group, was presented the certificate and delivered a speech to detail Qingdao Port's brand and service advantages, which was well received by the attendees at the summit.

The World Brand Lab, established in New York in 2003, is the leading independent consultancy of brand valuation and marketing strategy in the world.

The top 500 Asian brands were evaluated on several indicators such as market share, brand loyalty, and Asian leadership.

Its selection on the list will help raise Qingdao Port's international profile and promote development of Shandong Province Port Group.

As an intangible asset, a brand is an important strategic resource for the survival and development of an enterprise. The Shandong provincial government has put forward policies to accelerate brand construction.

The province is set to foster a number of influential and competitive world-renowned brands and a number of domestic first-class enterprises by 2020, with five on the list of the world's 500 most valuable brands and 60 among China's 500 most valuable brands.

Shandong Province Port Group, newly established in August, has integrated the major ports in Shandong province, including Qingdao Port, Yantai Port, Rizhao Port, and the Bohai Bay Port Group in an effort to maximize port resources and eliminate regional competition.

Li Fengli (middle), general manager of Shandong Province Port Group, receives the certificate for Qingdao Port's inclusion among the top 500 Asian brands on Aug 27 at the 2019 Asia Brand Summit in Hong Kong. [Photo/iqilu.com]

Containers carrying goods for export are seen in Qingdao Port, East China's Shandong province on Oct 19, 2018. [Photo/VCG]