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Apple is stepping up efforts to boost revenue from services, after a continuing decline in its smartphone sales in the country. China gained the top spot for iOS App Store sales in 2016 and the country's iOS revenue hit more than billion in the fourth quarter of last year.

As China and the EU are partners instead of rivals, Wang said bilateral exchanges should be mutually beneficial, rather than a zero-sum game where one's gain is another's loss.

As China has become a world leader in infrastructure development such as for railways and ports, the infrastructure projects being built with Chinese support will have advanced technological standards, Biswas noted.

Around 59 percent of economists said the current US economic expansion was most likely to end in 2020, while 22 percent predicted the next recession would arrive in 2021, the survey showed.

As China's top legislature prepares to meet for its annual session beginning Tuesday, nearly 3,000 deputies, or lawmakers, will note with interest that consumption upgrade, which they had endorsed last year as key to economic growth in the new era, has borne fruit in the form of Chinese consumers' growing demand for high-quality goods, including luxury products.