Apple CEO Tim Cook: Will continue to increase investment in China

According to the financial news app Zhitong Finance, Apple (AAPL.US) CEO Cook stated during a meeting with the Minister of Industry and Information Technology of China on Wednesday that Apple will continue to increase its investment in China to support the high-quality development of the industry chain and supply chain. This highlights the important role of the Chinese market in Apple's global business. As the world's largest smartphone market, China remains one of the most important markets for Apple outside the United States. According to Counterpoint Research, the sales of Apple's latest iPhone 16 series smartphones in the first three weeks after their launch in China increased by 20% compared to the sales of the iPhone 15 series smartphones in the first three weeks after their launch last year. This dispelled some analysts' concerns about weak demand for the latest iPhone. It was reported that on October 23, Minister of Industry and Information Technology Jin Zhuanglong met with Apple CEO Cook in Beijing to exchange views on Apple's development in China, network data security management, cloud services, and other topics. Jin Zhuanglong stated that in recent years, China has orderly expanded the opening up of the telecommunications sector to the outside world, creating new opportunities for enterprises from various countries to invest and operate in China. We will continue to expand high-level opening up, vigorously promote digital industrialization and industrial digitization, and provide more opportunities and a better environment for investors from various countries. We hope that Apple will continue to deepen its presence in the Chinese market, increase innovation investment, grow together with Chinese enterprises, and share the dividends of high-quality development. Cook expressed that Apple is willing to actively seize the opportunities of China's opening up to the outside world, continue to increase its investment in China, and support the high-quality development of the industry chain and supply chain. Furthermore, Cook also told the media that Apple is working hard to provide artificial intelligence services to Chinese users as soon as possible, but first needs to complete a comprehensive regulatory process. According to media reports, Apple may seek potential artificial intelligence partnerships with Alibaba and Baidu in China