In July, Forbes released its 2025 list of the “best CEOs” in China. The 50 names are selected based on criteria such as market value, stock price trends, net profit and growth, as well as financial indices including return on equity (RoE). Lei Jun of Xiaomi once again tops the list.
There are 19 CEOs who have appeared on the list consecutively, 25 first timers and 6 returnees. Among the select few at the top are familiar names such as Ma Huateng, Lei Jun of Xiaomi and Wang Chuanfu of BYD. This is also the fifth time Wang Chuanfu has been named one of the “best CEOs” in China by Forbes. BYD earned 170.36 billion RMB (23.77 billion USD) in Q1 2025, up 36% year-on-year (YoY) with a record-breaking net profit of 9.16 billion RMB (1.28 billion USD). Xiaomi also reported “history-making” positive results in the same quarter. This year’s ranking marks Ma Huateng’s return to the “best CEOs” list after 4 years.
The CEOs of several “new consumption” companies were also on the list, including Wang Ning of POP MART, Zhang Hongfu of Mixue and Xu Gaoming of Laopu. This means the “big three” new consumption listed companies on the HKEX were all represented among the “best CEOs”. CHAGEE and GoodMe’s CEOs were also featured, following extraordinary IPOs by both companies.
The list encapsulates the best of the top executives from China’s listed companies. It also reflects shifts in the tech, automotive and pharma industries. Three women made it to the top, though this marks a decline from last year. The ranking highlights how Chinese companies performed over the past year and how they’re likely to evolve next year. However, it seems the list is more about the companies than the executives themselves.