http://www.sino-manager.com/zt/2010mba/

The only comprehensive ranking of Chinese MBA programs can be found in the above link. The annual study carried out by a Chinese entity closely follows the development of relevant Chinese MBA programs as opposed to the FT rankings which does not include Tsinghua and Guanghua because, as of now, they have not yet consented to participate. Tsinghua has, for the most part, dominated the rankings for the past decade with Guanghua on their heels and CEIBS hovering around the 3rd, 4th or 5th spot. Bearing this information in mind, I will leave it to your imagination to place the two public institutions in the FT rankings -- should they participate.

A side note about CEIBS. As you are all surely familiar, they rank in the upper rungs of the FT list. This is due to their ability to place students in managerial positions at multinational companies aided by their strong Western-Eastern network, a benefit from the joint government program. The rank is also pushed by strong salary percentage increases as is normal for a maturing university. In summation, if you want exposure to the Chinese market at a managerial position with a MNC then CEIBS is the way to go. Entrepreneurs, Ibankers/PE/VC, NGO and other interests should look elsewhere, in my opinion.

Guanghua has strong dual degree partners, one of the most coveted being the NUS-Guanghua partnership. The broad and unique exposure from China to ASEAN draws strong interest to this program for many prospects. The drawback is you may only apply after you are admitted and there is no guaranteed admittance to this program leaving the prospect to analyze the costs and benefits in receiving only a Guanghua degree depending on his/her intl/local goals. Average GMAT score suspends between the 600 to 700 range. Application, interestingly, only requires one statement of intent and leaves the direction up to the applicant. It calls into question the thoroughness in assessing the candidates for such a prestigious school.

Tsinghua seems to be able to maintain it's number 1 ranking for a few reasons. One being the political clout Tsinghua has enjoyed lately with many alumnis in esteemed positions of the Chinese government. The effect can be seen in the advisory board where we see key figures from private equity firms, banks, MNCs and ofcourse the Chinese government among others. Another reason for Tsinghua's success is from the dynamism breathed into the program by the administration. 2010 saw a revamp in the curriculum to maintain relevance in the student's and faculty's perception. Student Ambassadors crawl the web with passion and perhaps pride. Furthermore, an opportunity to acquire an MBA at HEC or an MS MS at MIT is desirable, yet similar to Guanghua, one must apply after matriculation.

I hope I've done a thorough yet simplified job of explaining some of the MBA programs in China for your reference.