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Anta Group, the world's third-largest sportswear company by revenue, saw revenue increase 40 percent to 14.8 billion yuan (.07 billion) and profits increase 58 percent to 4.2 billion yuan in the first six months, according to its half-year financial report, which was released in late August.

Ant Financial is an affiliate of China's e-commerce giant Alibaba. Alipay is one of China's two biggest e-payment platforms, with more than 1 billion annual active users. It was valued at 0 billion after raising about billion its latest round of private fundraising activities in 2018.

Another case occurred just a few days ago. It revolved around a Chinese woman who found herself accosted on the street by a stranger who cursed at her and blamed her for bringing the coronavirus to the US.

Apart from being poor at branding and design, many Chinese toy companies also find themselves caught in price competition and lag behind in intellectual property protection awareness. For example, in late April, police busted the Shenzhen-based Longjun Toy Factory for counterfeiting Lego products in a scandal involving more than 200 million yuan ( million).

Another 16 have passed IPO reviews and are awaiting the CRSC registration, including Yihai Kerry Arawana Holdings Co Ltd, a food producer that plans to raise as much as 13.87 billion yuan from its ChiNext IPO.