Two universities in the Chinese mainland, Tsinghua University and Peking University, have ranked among the world's top 20 for the first time, according to the latest QS World University Rankings released on Wednesday.

Tsinghua University is China's highest-ranked university, ranking 17th, slipping two places from last year. Peking University rose five places from last year to 18th, achieving its best ranking since the list was first published in 2004, according to the list released by London-based higher education analyst QS Quacquarelli Symonds.

Fudan University rose three places to 31st and Zhejiang University rose eight places to 45th. Both universities achieved their best-ever rankings.

A total of 1,300 higher institutions are included in this year's rankings, making it the largest QS World University Rankings ever published. It is compiled using a range of criteria, including academic and employer reputation.

Massachusetts Institute of Technology has been crowned as the best university in the world for the 10th consecutive year. The University of Oxford was second best, and the University of Cambridge and Stanford University tied for third place.