TAIPEI (Taiwan News) — The Best Taiwan Global Brands 2020 list was released on Tuesday (Nov. 17) and includes 25 of the country's biggest brands this year.

Now in its 18th year, the annual rankings assess local companies by their brand value, which is calculated by looking at finances, brand character, and brand strength. It was commissioned by the Industrial Development Bureau (IDB) and conducted by brand consulting company Interbrand, reported Anue.

The top 20 firms have a combined value of US$10.6 billion, up 5 percent from last year and the first time the figure has exceeded US$10 billion after a seven-year hiatus. This shows that many Taiwanese businesses have proven resilient as COVID-19 batters the global economy.

According to IDB chief secretary Chen Pei-li (陳佩利), Taiwanese companies have been driven by the U.S.-China trade war to diversify their production to ensure supply chain stability. The health crisis has also presented a profitable opportunity for Taiwan’s 5G, information security, sports gear, and other industries, wrote CNA.

The 25 Best Taiwan Global Brands 2020 are Trend Micro (趨勢科技), Asus (華碩), Want Want (旺旺), Advantech (研華), Giant Bicycles (巨大), CTBC Financial Holding (中信金), Cathay Financial Holdings (國泰金), Acer (宏碁), MediaTek (聯發科), Merida Bikes (美利達), Prime Scope Trading (美食), Chailease Finance (中租), Delta Electronics (台達電), Synnex Technology Intl (聯強國際), Cheng Shin (正新), Uni-President Enterprises Corporation (統一), Johnson Health Tech (喬山), Micro-Star International (微星), Chlitina (克麗緹娜), Transcend Information (創見), Taiwan Cement (台泥), CTCI (中鼎), ADATA Technology (威剛), HIWIN (上銀) and ZyXEL (合勤).