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China has come closer to the long-standing leader -- the United States, which recorded a brand value growth of only 7 percent over the past year.

China has also undertaken market deepening initiatives that incentivize the private sector and stimulate its further development. Gupta said this also serves as "an automatic economic stabilization mechanism for the broader economy when the state sector is unable, due to budgetary tightening, to make the necessary public investments."

China has long called for a dual-suspension approach to ease tension on the peninsula, to pave the way for denuclearization. That is for the DPRK to halt its nuclear and missile tests, and the US and South Korea to cease their joint military drills.

China capable of handling challenges including possible market fluctuations

China had nearly 1.58 million registered seafarers at the end of last year, the largest number in the world, according to the bureau's report. The figure reflected a 6.2 percent year-on-year increase.