Hongqi E-QM5 is officially put into operation on Nov 11 in Changchun, Jilin province. [Photo/Changchun Daily]

China FAW Group, based in Changchun, Northeast China's Jilin province, recently ranked 40th among the Top 500 Chinese Brands with a brand value of 52.27 billion yuan ($8.18 billion).

The company ranked 11th among central government-owned enterprises and first among auto manufacturers.

The list, released by Brand Alliance, is a comprehensive evaluation from a financial perspective, consumer perspective, and market perspective.

A brand strength coefficient was also introduced into the brand value calculation to reflect the brand's ability to discount future cash flows. The final list was evaluated through an expert review meeting.