China has been ranked the third most powerful country in the world, according to the 2018 Best Countries report, a rankings and analysis project by U.S. News &World Report, Y&R's BAV Group and the Wharton School of the University of Pennsylvania.

A Long March-5 carrier rocket is displayed at the launch site in Wenchang, Hainan Province, October 28, 2016. [Photo: VCG]

The report is based on a survey that questioned more than 21,000 business leaders, informed elites, and general citizens from all over the world.

The United States and Russia are perceived to be the top two most powerful in the list.

Following the top three are Germany, UK, France, and Japan.

For a second year in a row, China ranked 20th in the overall Best Countries ranking.

Switzerland topped the world's best country for this year.

It's the second time the country has ranked first in the report.

Canada, Germany, the UK, and Japan are the four countries that round out the top five spots.