A driverless vehicle developed by the internet giant Baidu on display at an exposition in Wuzhen, Zhejiang Province. [Photo/Xinhua]

Chinese technology companies Baidu Inc and Huawei Technologies Co Ltd were listed as two of the world's 50 smartest companies on Tuesday by a US tech magazine.

MIT Technology Review announced its annual ranking of the "50 Smartest Companies 2016", which identified 50 enterprises that are believed by the news outlet's editors to be "smart" in the way that best combines innovative technology with effective business models to create new opportunities.

Apart from Baidu and Huawei, Chinese tech giants Tencent Holdings Ltd and Alibaba Group Holding Ltd are also on in the list. Didi Chuxing, a four-year-old ride-hailing app that's beating Uber in the domestic market, has also joined the group among the other world's tech behemoths and ambitious startups.

Being one of China's major internet search engines, Baidu is developing autonomous cars, backed by a big research and engineering team in Silicon Valley and the company plans to employ more than 100 autonomous-car researchers and engineers in California by year's end, said the magazine.

Another Chinese telecommunications giant Huawei "is now the world's third-largest smartphone vendor thanks to strong sales in both premium and entry-level devices," said the magazine.

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