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Anta Sports' rise came after a series of mergers and acquisitions of leading international sports brands. A consortium led by Anta Sports completed the purchase of Finnish sporting goods company Amer Sports on April 11.

Apart from the brands that fell off the list, 34 decreased in value, with GE experiencing the steepest decline, dropping 32 percent, while 57 hit higher valuations, including nine new entrants and Instagram, whose brand value soared by 95 percent.

Another approach to providing legal services of higher quality to foreign businesses and individuals is to promote joint ventures between local and foreign law firms, he said.

Apart from pushing ahead joint inspections, Yi also called for the establishment of a joint law enforcement alliance on the basis of mutual trust, to combat cross-border securities crimes, adding that China will provide law enforcement assistance in accordance with multilateral law enforcement cooperation arrangements.

Any external interference will only strengthen China's resolve to defend national sovereignty and security, any act of hegemony will further unite the Chinese people and any threat or sanction will end up backfiring, according to the office.