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Chinese family businesses are looking for leaders for sustainable development and international competitiveness now that the decades of economic boom that coincided with China's reform and opening-up have ended, according to a senior executive of global executive search and assessment firm Russell Reynolds Associates Inc.

Chinese candidates can grasp the universal knowledge system of finance through the CFA Program, Zhai said, but further work is needed to combine the knowledge with the latest developments in China's financial markets.

Chinese leading gaming outfit NetEase Inc continued to rank as seventh on the list, recording a staggering 53 percent year-on-year increase in revenues to hit .9 billion in the first half of 2017.

Chinese firms are working hard to put 5G into trial operation in 2018. A report by Beijing's China Academy of Information and Communication Technology predicted that the next-generation super-fast internet will drive 6.3 trillion yuan (6.8 billion) of economic output in the country by 2030.

Chinese e-commerce giant JD reported robust sales during the Spring Festival holiday due to the growing demand arising from consumption upgrade and the rise of middle and high-income shoppers.