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Another innovation force for Zhejiang private enterprises comes from their long-standing awareness of cooperating with universities and scientific research institutions for development and upgrade, Guo said.

Apart from investment projects, the influx of high-quality international brands has also hastened the consumption upgrade in the Chinese market. L'Oreal Group, which has taken part in the CIIE since its inaugural edition, will introduce five new brands to China at the third CIIE in Shanghai.

Announcing the measures, Chief Executive Carrie Lam Cheng Yuet-ngor said those from the Chinese mainland, Macao and Taiwan, would be denied entry if they have been overseas in the past 14 days. Other measures include suspending the transit service at the city's airport and requiring arrivals from Macao and Taiwan to a 14-day mandatory quarantine. 

Apart from China, the firm's cycles can be found in London, Manchester, Florence, Milan, Singapore and Bangkok.

Another factor that reportedly drove down Brilliance's stock prices is BMW inking a deal last week to establish a 50-50 joint venture with Great Wall Motor.