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Anta Sports' rise came after a series of mergers and acquisitions of leading international sports brands. A consortium led by Anta Sports completed the purchase of Finnish sporting goods company Amer Sports on April 11.

Another key to the success of high-growth insurgent brands is their decision to have narrow product ranges, according to Derek Deng, a Bain partner who also focuses on consumer products.

Another measure to redress the situation is that more women are being encouraged to take up thangka painting.

Another push for foreign investors to buy into STAR's opportunities should be international equity indices' incorporation of STAR-listed firms after the market matures, said Wang Haoyu, managing director and head of capital markets of Beijing-based CreditEase Wealth Management.

Apart from contract factories, the rest of Apple's suppliers that sell it chips, glass, aluminum casings, cables, circuit boards and much more, also became more concentrated in China, the report said. Among all supplier locations, 44.9 percent were in China in 2015, while the figure rose to 47.6 percent by 2019, the data showed.