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Apart from Hong Kong and Shenzhen, another seven Chinese cities, all on the mainland, were also included in the top 50. New York took the top spot as the most competitive city in the world, followed by Tokyo and London.

Apartment buildings and mountains peek through the fog in Xishui county, Guizhou province, on Sunday. [Photo by Luo Jin/for chinadaily.com.cn]

Anta said in a statement to the stock exchange on Friday morning that allegations were "inaccurate and misleading," and that the company may take legal action against Blue Orca.

Another judge, Zhao Changxin, said being honest is a must for each part in the litigation and said litigants should not attempt to evade liability by refusing to attend hearings or by playing for time with respect to trials.

Another executive at a British-Dutch transnational consumer conglomerate agreed.