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China, with a total brand value of over $10 trillion, ranked second in the annual report on the world’s most valuable nation brands by Brand Finance, a UK-based independent branded business valuation consultancy, People’s Daily reported Friday.

Chinese companies make up 50 of the global 500 most valuable brands, increasing from only eight in 2008.

From “made in China” to “created in China,” and from “Chinese speed” to “Chinese quality,” more and more the nation’s brands have entered the global market and made their names.

Chinese smartphone manufacturer Xiaomi became the number one cellphone brand in India in the third quarter of 2017, with 9.2 million shipments and a market share of 23.5%.

Chinese drone maker DJI took half of the North American market, and 80% of its drone revenue comes from markets outside of Chinese mainland.

Trains produced by China’s CRRC Corporation Limited are running in 102 countries and regions, taking over 30% of the global market share.

Apart from products, Chinese brands are also making contributions to the establishment of global standards.

This June ISO 19720-1, the terminology and commercial specification on plants for the preparation of concrete and mortar, was officially published. It’s the first international specification formulated and published by a Chinese enterprise for this industry.

Entering a new era of economic development, China is placing more importance on brand-building. “Currently, the approval time of brand registration has been shortened from nine months to eight. The country is also making more efforts to protect the exclusive rights of trademarks,” said Liu Junchen, deputy director of the State Administration for Industry and Commerce.

By Nov. 30, China had seen 5.11 million trademark applications. The number of valid registrations in the country accounts for over 40% of the world’s total, ranking first in the world for 16 consecutive years.