Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google-Alphabet (GOOGL)—popularly know as the FAANGs—have been on a tear this year. But some of the Chinese tech giants like Alibaba (BABA), Tencent (TCEHY), JD.com (JD) and Weibo (WB), have delivered even better returns.Of these, Tencent and Alibaba are among the world’s ten largest companies. China is home to 1.4 billion people. The middle class in the country is expanding and their incomes are rising fast. Due to restrictions imposed on foreign companies’ operations in the country, domestic tech companies flourish in this huge market.(Read: SEC Reviews Bitcoin ETF—the Skyrocketing Cryptocurrency Explained)Facebook, YouTube and Twitter are banned in China, Google and Uber left and Amazon has failed to make much headway, while their Chinese rivals’ market values and clout have been growing rapidly.Unlike many US tech giants, Chinese tech companies have diversified business models and are not overly reliant on advertising revenues, suggesting significant growth potential in the coming years.Tencent Holdings (TCEHY)Tencent is an investment holding company that provides internet value-added services and online advertising services in Mainland China, Hong Kong and internationally. The stock is listed in Hong Kong. (Read: Forget Big Tech; Bet on These Overlooked ETFs)Their social networking platforms--Weixin/WeChat and QQ--have massive user base. Their cloud computing and payment revenues have also been rising rapidly.Tencent is now the largest public company in Asia. The stock, currently ranked Zacks #3 (Hold), has risen almost 43% this year.Alibaba Group (BABA)Alibaba Group operates China’s largest e-commerce platforms Taobao and Tmall. They have also been growing their new businesses including cloud computing, digital media and entertainment.Alipay, their third-party online payment platform, has now become the dominant player in the Chinese online payment market. (Read: Time to Buy Global Low Volatility ETFs)Last week, the e-commerce giant announced that their fiscal 2018 revenue could grow by 45–49% as growing incomes in China are leading to a surge in online shopping.The stock, currently ranked Zacks #3 (Hold), is up almost 60% this year.JD.com (JD)The Chinese online retail giant is the second-largest e-commerce player after Alibaba. They have presence in Indonesia too and are planning to expand into other developing countries this year. Of late, they have been gaining on Alibaba in the world's second-biggest economy.JD.com, a Zacks Rank #1 (Strong Buy) stock is up more than 52% year-to-date.Guggenheim China Technology ETF (CQQQ)This ETF provides diversified exposure to the Chinese technology sector. Tencent, Alibaba and NetEase are the top three holdings. The product has an expense ratio of 70 basis points and invests in technology companies across the market cap spectrum.CQQQ currently has a Zacks Rank #2 (Buy) and has risen more than 30% this year.KraneShares CSI China Internet ETF (KWEB)This ETF holds Chinese Internet companies listed in both the US and Hong Kong. Tencent, Alibaba and JD.Com are its top holdings.KWEB currently has a Zacks Rank #3 (Hold) and is up almost 40% year-to-date.Zacks' 2017 IPO Watch List Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.One has driven from 0 to a billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >> "Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report JD.com, Inc. (JD): Free Stock Analysis Report Alibaba Group Holding Limited (BABA): Free Stock Analysis Report Weibo Corporation (WB): Free Stock Analysis Report Facebook, Inc. (FB): Free Stock Analysis Report Tencent Holding Ltd. (TCEHY): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report GUGG-CHINA TEC (CQQQ): ETF Research Reports KRANS-C CHN INT (KWEB): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report