The leading financial magazine Forbes China released its Best Financial Analysts list on Monday, the second time that the magazine has published such a list.

Compiled in cooperation with Shanghai Suntime Information Technology Co Ltd in Shanghai, the list identifies the top financial analysts in the country, crowning Guo Haiyan of China International Capital Corporation Ltd as the nation's top analyst.

Based on the study of nearly 6,000 financial analysts, the survey included 633 analysts in a core sample pool. Of these, 579 have more than three years of experience in the industry. A total of 247,500 reports on 68 research institutions were studied for the list.

Analysts are graded based on various criteria, including the quality of the financial analysis, the forecast level, timing of investment, research attitude, and the actual value created.

The bio-pharmaceutical industry stood out as attracting the largest number of top analysts. Only three analysts were shortlisted from the financial services industry, however, and two from property industry.

Guo Haiyan, managing director of the research department at China International Capital Corporation Ltd, was placed at the top of this year's list. She said analysts should broaden their scope to include government policies. One of the secrets of her success is to study the profit-making mechanism of the industry before structuring a mathematical model.

Guo also advised against getting too close to listed companies and stressed the importance of grassroots research into store staff and even consumers.

In terms of making profits, she advised analysts to keep an eye on the good companies in a promising industry, leading companies in an insipid industry and the restructured companies in a sluggish industry.

Liao Bing, chairman of Suntime, said there are about 7,000 financial analysts in China at present. The number peaked this year, he said, and there is unlikely to be any growth or reduction in the number for the foreseeable future.

There are 200 financial research institutions in China specializing in producing reports. However, more than 96 percent of the reports circulated in the market are produced by the top 50 institutions, said Liao.

Zhou Jiangong, editor-in-chief of Forbes China, said that financial analysts enjoy quite a high social status in the United States, and he hopes they will achieve similar status in China.