Unpacking China’s Power Players:
The 2025 Fortune Most Powerful Businesswomen List Reveals Key Trends and Dynamic Shifts.
The landscape of
China’s most influential business leaders
is constantly evolving, and the 2025
Fortune (Chinese Edition)
list of
China’s Most Powerful Businesswomen (MPW)
offers a fresh snapshot. Released on July 2nd, this year’s rankings highlight significant movements, cementing certain figures’ dominance while seeing others, for the first time in over a decade, step out of the spotlight.
Hold onto your hats, because we’re diving deep into the data, the trends, and the stories behind these incredible women shaping the future.
Key Points
- Wang Laichun (Wang Laichun 王来春), Chairperson of Luxshare Precision (Lixun Jingmi 立讯精密), topped the list for the third consecutive year, with Luxshare’s operating revenue hitting ¥268.795 billion RMB ($37.03 billion USD) last year.
- The list highlights the dominance of female founders from “Apple supply chain” companies, including Zhou Qunfei (Zhou Qunfei 周群飞) of Lens Technology (Lansi Keji 蓝思科技) and Zeng Fangqin (Zeng Fangqin 曾芳qin) of Lingyi iTech (Lingyi Zhizao 领益 Zhizao).
- New entrants from AI and consumer tech sectors include Zhai Fang (Zhai Fang 翟芳), co-founder of Xiaohongshu (Xiaohongshu 小红书) (second spot), and Gao Zhun (Gao Zhun 高准), CFO of ByteDance (Zijie Tiaodong 字节跳动) (fifth spot).
- Pop Mart (Paopaomate 泡泡玛特) co-founder Yang Tao (Yang Tao 杨 Tao) made a notable entry, with Pop Mart’s revenue surpassing ¥10 billion RMB ($1.38 billion USD) last year, driven by the “Guzi Economy”.
- For the first time in 15 years, Dong Mingzhu (Dong Mingzhu 董明珠), Chairperson of Gree Electric Appliances, was absent from the list, signaling a significant shift in the ranking’s dynamics.
Wang Laichun Secures the Hat-Trick: A Glimpse into Sustained Power
For the
third consecutive year
,
Wang Laichun (Wang Laichun 王来春)
, the visionary Chairperson of
Luxshare Precision (Lixun Jingmi 立讯精密)
, has claimed the coveted top spot on the MPW list.
This isn’t just a win; it’s a testament to her sustained leadership and the incredible growth trajectory of Luxshare.
Wang Laichun’s journey is the stuff of
startup legends
. She started as a factory line worker, a humble beginning that underscores her deep understanding of manufacturing processes and operational excellence. Fast forward to today, she’s transformed a small contract manufacturer into a
Fortune Global 500 company
, solidifying its reputation as one of the
“Apple supply chain’s Big Three.”
Want to talk numbers?
-
As of market close on July 3rd,
Luxshare Precision (002475.SZ)
saw its share price climb by
5.1%
to
¥35.66 RMB ($4.91 USD)
. -
Its market capitalization reached a hefty
¥258.6 billion RMB ($35.61 billion USD)
. -
According to its latest annual report, Luxshare’s operating revenue last year hit an impressive
¥268.795 billion RMB ($37.03 billion USD)
, marking a
15.91% increase
year-on-year. -
Net profit attributable to shareholders of the listed company was
¥13.366 billion RMB ($1.84 billion USD)
, soaring
22.03%
year-on-year.
- Operating Revenue: ¥268.795 billion RMB ($37.03 billion USD)
- Year-over-Year Revenue Increase: 15.91%
- Net Profit: ¥13.366 billion RMB ($1.84 billion USD)
- Year-over-Year Net Profit Increase: 22.03%
- Market Capitalization (July 3rd): ¥258.6 billion RMB ($35.61 billion USD)
These figures aren’t just statistics; they’re echoes of strategic brilliance and relentless execution.
For investors, Luxshare Precision remains a fascinating case study in
sustainable growth
within the tech manufacturing sector.
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The Apple Supply Chain Dominance: A Network of Powerhouses
The 2025 MPW list underscores a critical trend: the prominent presence of female founders from
“Apple supply chain” companies
. This highlights the foundational role these companies play in the global tech ecosystem and the formidable women leading them.
Joining the ranks alongside Wang Laichun are other heavyweights:
-
Zhou Qunfei (Zhou Qunfei 周群飞)
, founder of
Lens Technology (Lansi Keji 蓝思科技)
, clinched the
third spot
. Lens Technology also holds its own as one of the “Apple supply chain’s Big Three,” specializing in high-precision glass and sapphire components. -
Zeng Fangqin (Zeng Fangqin 曾芳qin)
, Chairperson of
Lingyi iTech (Lingyi Zhizao 领益 Zhizao)
, landed at
eighth
.
Fortune
insightfully points out that these three women have not merely survived but
thrived
amidst complex global political and economic headwinds. How?
-
Strategically expanding global production capacities
: Think global footprint, mitigating risks. -
Fostering core technological innovation
: Staying ahead of the curve with R&D. -
Diversifying client base
: Not putting all their eggs in one basket. -
Actively entering new frontiers
: Diving into
new energy vehicles (NEVs)
and
artificial intelligence (AI) hardware
to hedge against uncertainties.
For founders and investors, this is a clear playbook for resilience and long-term success in a volatile global market.
AI and Consumer Trends: New Entrants Reshaping the Game
Beyond manufacturing, the MPW list also spotlights leaders at the vanguard of emergent sectors like AI and consumer tech.
This signals a shift in where the true incremental growth and innovation are happening in China.
-
Zhai Fang (Zhai Fang 翟芳)
, the brilliant co-founder of
Xiaohongshu (Xiaohongshu 小红书)
, secured the
second spot
. Xiaohongshu, often described as China’s Instagram meets Pinterest, has become a powerhouse for lifestyle sharing and e-commerce. -
Gao Zhun (Gao Zhun 高准)
, Chief Financial Officer of
ByteDance (Zijie Tiaodong 字节跳动)
, ranked
fifth
. With ByteDance’s valuation reportedly exceeding
$300 billion USD
, Gao Zhun’s role in steering the financial ship of such a monolith is undeniably impactful.
The AI Factor: ByteDance’s Doubao Leading the Charge
ByteDance is not just about TikTok and Douyin anymore. The company is
accelerating its efforts in the AI domain
. Its
Doubao (Doubao 豆包) large language model
has emerged as one of the few AI applications in China to experience
sustained user growth
since the launch of DeepSeek.
For those tracking the global AI arms race, Doubao’s performance is a critical indicator of
China’s advancing capabilities in generative AI
and LLMs.
An interesting observation by
Fortune
: despite TikTok facing geopolitical headwinds, “refugees” from the platform have found a new “sanctuary” in Xiaohongshu. This highlights the
interconnectedness of China’s digital ecosystem
and the ability of platforms to adapt and capture new user bases.
Pop Mart and the “Guzi Economy” Phenomenon
Yang Tao (Yang Tao 杨涛)
, co-founder of
Pop Mart (Paopaomate 泡泡玛特)
, also made a notable entry onto this year’s list.
Pop Mart has been a cultural phenomenon, especially among Gen Z, known for its
“blind box” marketing
of collectible toys.
-
Last year, Pop Mart’s revenue surpassed
¥10 billion RMB ($1.38 billion USD)
for the first time. -
Four of its key IPs generated over
¥1 billion RMB ($138 million USD)
in annual revenue each. -
The company’s stock price has shown
consistent growth
this year. -
Its
Labubu IP
— a trendy toy character — has become the most popular in the first half of the year.
Fortune
praises Yang Tao for her crucial role in Pop Mart’s
IP operations and product development
, positioning the company as a major victor in the
“Guzi Economy” (Guzi Jingji 谷子经济)
trend.
The “Guzi Economy” refers to the booming market driven by emotional consumption and the pursuit of niche hobbies, often characterized by collectible items and fan culture. It’s a goldmine for those who understand consumer psychology and IP monetization.
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Pioneers and Absences: The Ever-Changing Guard
The list also welcomed other powerful figures making waves across various industries:
-
Meng Wanzhou (Meng Wanzhou 孟晚舟)
, Vice Chairperson of
Huawei (Huawei 华为)
, reflecting the continued influence of tech giants. -
Wang Fengying (Wang Fengying 王凤英)
, President of
XPeng (Xiaopeng Qiche 小鹏汽车)
, indicating the rise of women in the competitive new energy vehicle sector. -
Zong Fuli (Zong Fuli 宗馥莉)
, President of
Hongsheng Beverages Group (Hongsheng Yinliao Jintuan 宏胜饮料集团)
, a titan in the traditional consumer goods industry. -
Gu Pinpin (Gu Pinpin 顾聘聘)
, Chief Operating Officer of
Pinduoduo (Pinduoduo 拼多多)
, representing the dynamic e-commerce landscape.
However, one absence sent ripples through the business community:
Dong Mingzhu (Dong Mingzhu 董明珠)
. A perennial presence on the list since its inception 15 years ago, the Chairperson of Gree Electric Appliances did not appear this year.
This removal, after such a long tenure, signals a significant shift and opens up discussions around the evolving criteria for inclusion and the dynamic nature of leadership in Chinese business.
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Key Takeaways for Innovators and Investors
The 2025 MPW list offers more than just names; it offers insights into the core drivers of China’s economy:
-
Manufacturing Rises
: The dominance of “Apple supply chain” leaders proves that deep tech manufacturing remains a bedrock of the Chinese economy, even as the country shifts towards higher-value activities. -
AI is the Future
: The emergence of AI leaders like Gao Zhun underlines the strategic imperative for businesses to integrate and innovate in AI. -
Consumer Trends are King
: The success of Xiaohongshu and Pop Mart highlights the power of understanding evolving consumer behavior and leveraging IP. -
Resilience is Key
: The strategies of diversification, global expansion, and technological innovation employed by these women offer a blueprint for navigating geopolitical uncertainties.
The 2025 Fortune China’s Most Powerful Businesswomen list is a testament to the
resilience
,
innovation
, and sheer
determination
of female leaders shaping China’s economic future, keeping it fresh, informative, and engaging for everyone.
