Ren Zhengfei, founder and CEO of Huawei Technologies, is acknowledged 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 the fourth place.

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

Born in 1944 in southwest China's Guizhou Province, Ren founded Huawei in Shenzhen, south China's Guangdong Province, in 1987.

Huawei has become the world's second largest smartphone maker, following Apple. The company is also investing heavily in 5G technology.