The 74-year-old Ren Zhengfei, founder and CEO of Huawei Technologies, is the most influential business leader in China, according to the latest ranking released by business magazine Fortune's Chinese edition.

Pony Ma Huateng, founder and CEO of tech giant Tencent, came in second followed by Chen Dongsheng, founder, chairman and CEO of Taikang Insurance Group. Alibaba chairman Jack Ma grabbed fourth place this year.

These business leaders' values were not only reflected in the successful moments of their companies, but also, most importantly, in their willingness to face challenges as well as help their company through a crisis, find new direction and stride for the next success, Fortune China said.

The 40-year-old Wang Xing, chairman and CEO of Meituan Dianping, China's leading on-demand online service provider, is the youngest among China's 10 most powerful businesspeople, according to the list.

Dong Mingzhu, chairwoman of Gree Electric Appliances, a major home appliances maker based in Zhuhai, Guangdong province, is the only woman entrepreneur on the top 10 ranking, placing seventh.

Xu Jiayin (Hui Ka Yan), chairman of China's property developer Evergrande Group, and Lei Jun, founder of smartphone maker Xiaomi Group, also made the top 10.