Four brands from Ningbo, East China's Zhejiang province made the 2022 list of Hurun Most Valuable China Brands released on April 3.

Of the four brands from Ningbo, civil electrical brand Bull, which has a brand value of 19.5 billion yuan ($2.83 billion), was ranked 70th on the list, which contains 307 companies. It was followed by the Bank of Ningbo, kitchenware brand Fotile and fashion brand Youngor.

Bank of Ningbo took the 125th spot with a value of 10.5 billion yuan, while Fotile and Youngor, both newcomers on the list, were ranked 251st and 269th respectively.

The total value of the top 307 brands in China shrank 14 percent year-on-year to 7 trillion yuan in 2022.

Leading Chinese baijiu brand Kweichow Moutai, whose value edged up 2 percent year-on-year to about 1.04 trillion yuan last year, topped the list for the fifth consecutive year.

Douyin, the Chinese version of TikTok, moved up one slot to share fourth place with social media platform WeChat despite its brand value dropping 33 percent year-on-year to 160 billion yuan.

Similarly, though JD.com, a domestic online retail platform, saw its value decline 25 percent year-on-year to reach 120 billion yuan, its ranking jumped two spots to seventh.