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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 foreign trade is expected to show a stable recovery in the second half of the year on the back of a notable improvement in the industrial, supply and service chains as well as from major trade events like the upcoming Canton Fair and the third China International Import Expo, industry experts said on Wednesday.

China's major stock indexes ended higher in the morning session Tuesday, with the benchmark Shanghai Composite Index ending 0.21 percent higher at 2,752.44 points. The Shenzhen Component Index gained 1.74 percent to end at 9,949.95 at midday.

China's forex market is easily influenced by irrational expectations and spurred by inertia, due to a certain level of "pro-cyclicality," which distorts market demand and supply, and magnifies the risk of exchange rate overcorrection, the CFETS said in a statement.

China's defense sector is taking bold steps to be more competitive and innovative, as it prepares to mark the 90th anniversary of the founding of the Chinese People's Liberation Army on Aug 1.