In what is sure to be a slap in the face to U.S. President Donald Trump, global consulting company A.T. Kearny and business magazine Forbes China, have named telecommunications firm Huawei, as China's most influential company of 2018.
A total of 72,834 Chinese business managers participated in the online survey in which they were asked to evaluate 359 companies that are either from either the China’s top 500 list of companies, or from the Fortune Global 500 list of companies. Each respondent was required to consider if the company possesses an innovative culture and strategy; the field of innovation; and the influence of innovation.
Even though Huawei has faced critical reports in many international media and increased scrutiny in western countries over its alleged links to Chinese intelligence services and the controversial arrest of its CFO, Meng Wanzhou, Chinese managers still gave the firm first place ranking.
The Alibaba Group placed second on the list of influential companies, while consumer electronics enterprise Xiaomi Corporation placed third. Fourth is household appliances company Gree Electric, the world's largest residential air-conditioner manufacturer; followed by Haier, also a home appliance firm in fifth place.
Other companies that placed in the top 10 include Sany, SF Express, CRRC Corporation Limited, Tencent, China Baowu Steel Group and Kweichow Moutai.
This is the second year that AT Kearney and Forbes China have carried out this evaluation of influential and innovative companies. This year's rankings for Huawei and Alibaba Group were the same as the first edition, with the only change in the top three being Xioami, which was replacing Gree Electric.