Chinese technology companies Baidu Inc and Huawei Technologies Co Ltd were listed as two of the world's top 10 smartest companies on Tuesday by US tech magazine the MIT Technology Review.

The Review announced its rankings for the "50 Smartest Companies 2016", which identified 50 firms that are believed by the news outlet's editors to be "smart" in the way that best combines innovative technology with effective business models.

Besides Baidu and Huawei, Chinese tech giants Tencent Holdings, Didi Chuxing and Alibaba Group Holding are also on the list.

Here's a list of the world's top 10 smartest companies compiled by the MIT Technology Review.

10. Huawei

Visitors walk past a Huawei stand during PT/EXPO COMM China in Beijing, Sept 27, 2014. [Photo/IC]