The Chinese version of Fortune magazine has published a list of 40 young business elites in China below the age of 40.

Most candidates are to be found in the internet industry and seven are less than 30.

The youngest is 26-year-old Wang Naichen, founder of a hardware startup accelerator base in Zhongguancun, or "China's Silicon Valley".

Heading the list are Liu Qing and Cheng Wei, co-founders of Didi Kuaidi, China's biggest taxi-hailing application.

Yao Jinbo, chairman and chief executive officer of 58.com, and group-buying site Meituan's CEO Wang Xing were ranked second and third respectively.

Age and company potential are the major selection criteria for candidates, according to the magazine.

The list of young entrepreneurs is in its fifth year.

No. 10 Dai Kebin, CEO of online recruitment website Lietou.com

Dai Kebin, CEO of online recruitment website Lietou.com, speaks on Nov 18, 2012 at a panel discussion during the 6th Chinese CEO summit held in Beijing. [Photo/IC]