Alibaba’s Zhang Yong tops Forbes China Best CEOs list

August 13 23:40 2020

Zhang Yong, chairman and chief executive officer of China’s internet heavyweight Alibaba Group, has taken the first spot of the top 50 CEOs published by Forbes China on Tuesday. Tencent’s Ma Huateng and Ping An’s Ma Mingzhe rounded out the top three.

According to Forbes China, the list is based on a company’s stock price performance, market value, revenue, net profit, profit growth, return on assets and return on equity for domestically listed, as well as Hong Kong and US-traded shares from 2017 to 2020. CEOs that made the cut also are required to hold the position for three consecutive years after stepping in.

The average age of 50 CEOs is 54 years old, and the market value of companies they manage hits 365.4 billion yuan ($52.54 billion) on average. Four female leaders were nominated, including Chen Lin from Wuliangye at sixth, Dong Mingzhu from Gree Electric at 11th place, Wang Laichun of Luxshare Precision at 17th and Fan Hongwei of Hengli Group at 35th.

It is worth noting that 10 companies that top 50 CEOs manage are in Shenzhen, surpassing those in Beijing, Shanghai and Hangzhou. Tech and internet giant Tencent and insurance leader Ping An, plus Mindray, the biggest breathing machine manufacturer and Luxshare Precision, smartphone producer Apple’s supplier, have experienced great performance since 2017.

Here is a brief introduction of Alibaba Group

Alibaba Group operates in multiple Internet-based businesses that cover business-to-business online marketplaces, retail and payment platforms, shopping search engines and data-centric cloud computing services. In July 2012, Alibaba Group divided its core businesses into seven divisions: Alibaba International, Alibaba.com, Taobao Marketplace, Tmall, eTao, Alibaba Cloud Computing and Taobao Juhuasuan (Deal-of-the-Day).

Alibaba Group was founded in 1999 China Hangzhou by Chinese Internet pioneer Jack Ma. Ma believed that the internet could become a popular and stable tool to serve the public. The privately-held company now serves over 240 countries and areas. It has more than 24,000 staff members in over 70 cities in Greater China, India, Japan, South Korea, the UK and the US.

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