Chinese tech giant Tencent has been ranked inside the top 10 most valuable brands in the world for the first time.

The company's ranking rose from the 11th place in 2016 to 8th spot this year, with its brand value increasing 27 percent to $108.3 billion, according to the 2017 BrandZ Top 100 Most Valuable Global Brands ranking.

The rankings were released on June 6 by world-leading advertising and public relations agency WPP and global market research company Kantar Millward Brown.

Here's the full list of the top 10 most valuable global brands.

No 10 McDonald's

Brand value: $97.7 billion

McDonald's stock price reached new high on April 25, 2017 in Miami, Florida. [Photo/VCG]