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Apple captured first place with 19 percent global market share, nudging Samsung into second position. Woody Oh, a director at Strategy Analytics, said China's Huawei Technologies Co maintained its third position with a 10 percent global smartphone market share, holding steady from the same level a year ago.

As Italy's Economy Minister Giovanni Tria expressed it in December at an Asia forum in Rome: "Italy must be actively involved in the process of (BRI) integration, not only to realize all possible advantages of participating in major infrastructural projects, but also in the longer term to maintain a strategic position in the trade routes of the BRI.

Around the world, there were almost 98,000 cases and more than 3,300 deaths, the vast majority in China, where the virus first broke out.

As China is transforming its economy from traditional manufacturing sector to service and consumption oriented sector, its structural transformation and the rebalancing of its economy should lower the growth rate and put growth on a firmer basis over time, the chief economist said.

Apple still relies on China to produce many of its products, so it will be watching the trade negotiations between China and the US closely.