A ranking on brand value of China Time-honored Brands was released for the first time at the 2016 China Brand Evaluation Press Conference held in Beijing earlier this month, according to a report by China Economic Net.

Tsingtao Brewery Co Ltd, famous for its beer, ranks first among the China Time-honored Brands, with brand value of 35.79 billion yuan ($5.1 billion).

The conference, held by the China Council for Brand Development, China Council for the Promotion of International Trade and China Appraisal Society, has released evaluations on Chinese brands for four consecutive years since 2013.

Hundreds of qualified brands in the primary, secondary and tertiary industries were divided into different sectors to be evaluated and ranked.

Let's take a look at the top 10 most valuable China Time-honored Brands from 2016.

No 10 Shanghai Lao Miao Jewelry Co Ltd

Brand value: 5.27 billion yuan

A swarm of customers shop at an outlet of Shanghai Lao Miao Jewelry Co Ltd in Shanghai, on Apr 21, 2013. [Photo/VCG]