China Red Cross Foundation was ranked 3rd on a list of top Chinese charities compiled by Forbes China, following Shanghai-based charity Cherished Dream and the China Social Entrepreneur Foundation, the Beijing News reported Tuesday.

Forbes China ranked the charities based on factors such as total fundraising, project implementation and transparency.

Zhou Jiangong, editor-in-chief of Forbes China, said the Red Cross's selection as a candidate reflects successful efforts to improve transparency after a scandal earlier this year that shocked donors and soiled its reputation.

Netizens were infuriated this summer when a 20-year-old woman named Guo Meimei, who claimed to be the general manager of a company called Red Cross Commerce, boasted online about her luxurious lifestyle, showing off pictures of her with Maserati and Lamborghini cars, expensive handbags and a palatial villa.

China's business press carried the story above on Tuesday.