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China's environmental protection and excessive production capacity reduction moves, which have cut production in some sectors and pushed up their profits, may continue next year, which will boost corporate profits, the note said.

China's domestic market has huge growth potential and the development of the country's manufacturing industry will bring the world greater investment opportunities and broader investment prospects under the new economic development pattern of "dual circulation," said Vice Commerce Minister Wang Shouwen at the opening ceremony of the convention's Jianghuai Online Economic Forum.

China's consul-general to Victoria and Tasmania, Zhou Long, said: "China very much appreciates the compassion, support and sympathy of the Australian people toward the Chinese people in our fight against the virus, and vice-versa. We are also doing everything possible to help Australia.

China's e-commerce giant Alibaba took sixth on the list with 2.53 billion in brand valuation, up 16 percent year-on-year, while JD.com saw a 24 percent surge to .49 billion, according to the report. Chinese internet heavyweight Tencent came in seventh with a brand value of 0.98 billion.

China's consumer price index, a main gauge of inflation, grew 2.7 percent year-on-year in July, up from 2.5 percent from the previous month, the National Bureau of Statistics said on Monday.