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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 domain that Lam set her eyes on for closer Hong Kong-Shenzhen cooperation is higher education, which would pave the way for deeper collaboration in innovation and technology and the transfer of research and development findings.

Apart from competitive markets, which can help entrepreneurs choose industries and technologies when giving full play to their comparative advantages, a company's competitive edge also requires suitable infrastructure and sound institutional environment, Lin said. That means governments should coordinate or provide relevant resources to make markets more effective.

Ap - Xinhua

Another CaoTai band Upside Down was featured on SXSW website. "They are great and now people are excited about it. They are invited to play in another showcase," Minor said.