The top 11 young women will go on to form the new girl group Rocket Girls.
Competitor's rankings were based on audience voting through six online platforms.
The top winner Meng received more than 185 million votes, surpassing Wu's 181 million.
"Although the show is over, my passion for the stage has not come to an end. I hope that I can reach the top of the pyramid with your support," Meng told fans after the contest.
Wu, the second-place finalist, expressed that she suffered from stage fright and a lack of confidence when she first appeared on the show, but was able to overcome her fear with the support of fans.
"The dream is not too far as long as you do not run away from it. It is always there waiting for you," she said.
Third-place finalist Yang, whose dancing and singing performances were often criticized by netizens, said that she was happy to finally pass all barriers and reach her destination.
Before the final contest, there was heated debate online as to whether Meng or Xu was more deserving of the top spot. Each competitor had reached the top spot in the rankings on three separate occasions during the week before the final, further adding to the excitement surrounding the final episode.
Produce 101 is a reality show that follows 101 young women as they train and compete with each other under the guidance of real Chinese stars to become a pop idol.
During the show, competitors had to complete missions within certain time limits and improve their ability to perform, while using their charisma to bring in audience votes.
Source: Global Times