Tan Su Shan, CEO of Southeast Asia’s largest bank, is Fortune’s most powerful woman in Asia for 2025

Asia’s most powerful woman in business this year is DBS CEO Tan Su Shan, who assumed the top role at Southeast Asia’s largest bank in March. Since taking the helm, she’s had to steer the bank through a revived trade war and the return of alternative financial products like cryptocurrencies. 

“I’ve told colleagues, ‘This is going to be a volatile year, so you better buckle up,’” Tan says in the most recent issue of Fortune magazine.

Second place goes to Grace Wang, founder of Chinese tech manufacturer and Apple supplier, Luxshare. Despite intensifying U.S.-China tensions, Luxshare is continuing to win new clients including, according to media reports, OpenAI, as the ChatGPT developer explores making its own devices and diversifies beyond existing customers.

She’s followed by Huawei CFO Meng Wanzhou, who just began a six-month term as the tech giant’s rotating chair. Meng will now oversee Huawei’s push to help make China self-sufficient in advanced technology, particularly as the company ramps up its production of locally-made AI chips. 

Bonnie Chan, CEO of Hong Kong Exchanges and Clearing (HKEX) takes fourth place, as the Chinese city’s stock exchange regains momentum after a years-long slump. Hong Kong has hosted the world’s largest and second-largest IPOs this year: May’s listing of battery-maker CATL, and September’s debut of Chinese miner Zijin gold. 

Kathy Yang, who took the rotating CEO role at Foxconn in May, rounds out the top five. Yang has over three decades of experience in logistics, putting her in a prime position to oversee the global manufacturer’s supply chains. Foxconn is now generating more revenue from assembling servers for companies like Nvidia, compared to making iPhones for longtime customer Apple. 

Together, mainland China, Hong Kong, and Macau, with 34 executives, take up the largest share of the MPW Asia ranking. Singapore follows with 15 executives, while India and Thailand each contributed eight. Roughly 40 leaders are newcomers this year, including Sony CFO Lin Tao, Ping An CFO Fu Xin, Prudential regional CEO Angel Ng, and Vingroup vice chairwoman Le Thi Thu Thuy.

Beyond business: Introducing Fortune’s Most Influential Women Asia

Yet power extends beyond the C-suite, particularly in a diverse and fast-growing region like Asia. This year, Fortune’s Asia team highlights several women leaders from outside of business, recognizing success and influence in fields like professional sports, pop culture, and policymaking.

Take pop culture, now helping to drive Asia’s growing global profile. Asian movies, television, music and video games are winning over global audiences—and nowhere is that more clear than South Korea, home of K-pop. Blackpink, the record-shattering girl group, is now continuing its path to global dominance as they embark on another world tour. And its individual members—Lisa, Jennie, Jisoo and Rose—are also trying to blaze their own path in an industry that’s mostly been dominated by large talent agencies.

Then there’s politics and policymaking. Asia only has a handful of female heads of government. Among them, Singapore’s Josephine Teo is promoting the city-state’s ambition to become an “AI nation,” while Tokyo governor Yuriko Koike is positioning Japan’s capital as a hub for global finance and innovation at a moment when the mantle of “Asia’s financial center” is still up for grabs.

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Professional sports is another area where Asian women are expanding their influence. Some of Asia’s most prominent, influential—and marketable—athletes are a reminder that identity and heritage can often go beyond borders. Naomi Osaka and Eileen Gu both grew up outside of Asia, but have embraced their Japanese and Chinese heritage respectively, and won new fans in their adopted countries. 

Here’s who makes it onto Fortune’s inaugural Most Influential Women Asia list (and read our takes on each woman here):

Arts and Culture

• Blackpink (Lisa, Jennie, Rose and Jisoo—Global, fashion-forward K-pop powerhouse 
• Michelle Yeoh—Oscar-winning, trailblazing Malaysian screen legend
• Xin Zhilei—2025 Venice Film Festival Best Actress winner for The Sun Rises on Us All

Public Leadership and Policy

• Yuriko Koike—Tokyo’s three-term governor and reform-minded power broker
• Josephine Teo—Singapore’s Minister for Digital Development & Information; Cybersecurity & Smart Nation lead

Sports

• Alexandra “Alex” Eala—Filipina tennis trailblazer, the first from the Philippines to win a Grand Slam main-draw singles match (U.S. Open 2025)
• Eileen Feng Gu—Two-time Olympic champion freestyle skier representing China, and fashion–sport crossover icon
• Naomi Osaka—Four-time Grand Slam tennis champion, activist, and motherhood icon
• Zheng Qinwen—Top five Chinese tennis star, 2024 Australian Open finalist, and Paris 2024 Olympic singles gold medalist