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Antonio Campinos, president of the European Patent Office, said: "Our study shows that Chinese innovation in the field of fourth industrial revolution technologies has increased greatly. China has displayed, by far, the fastest growth of all major innovation centers around the world. Its universities, businesses, and regional hubs are becoming increasingly important players in the global 4IR innovation landscape."

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 nine subway lines currently under construction will also be equipped with 5G networks, the operator said. More than 6,700 5G base stations have been installed in the city so far.

Another notice released around the same time said that residents in a residential block nearby should abide by home-based isolation requirements as of 6 pm that day.

Another example is the Shanghai-London Stock Connect program which opened for trading last month. It is a new step for China's financial market to further open up to the world.