A senior Chinese official has called on tech giant Apple to strengthen its presence and invest in innovation in the world’s second-largest economy, as supply chains and companies move production and operations out of China.
Foreign investment in China shrank to its lowest level in 30 years in 2023 as geopolitical tensions between the United States and China intensify and technology competition between Beijing and Western countries intensifies, according to government statistics.
The United States has banned the export of advanced technology to China, and Beijing’s crackdown on spying, citing national security concerns, has spooked investors.
On Wednesday, Chinese Minister of Industry and Information Technology Jin Zhuanglong expressed his hope to Apple CEO Tim Cook, saying, “Apple would like to continue to deepen its presence in the Chinese market.” , urged Cook to “increase investment in innovation and grow with Chinese companies.” , and share in the dividends of high-quality investments,” the ministry statement said.
The statement said Jin also discussed “Apple’s expansion in China, network data security management, (and) cloud services” during the meeting.
China has the world’s largest smartphone market, and Apple is a strong competitor. However, the iPhone maker is increasingly losing market share in the country due to the increase in local rivals in the smartphone field.
According to analysis firm Canalys and AFP news agency in the second quarter of this year, Apple ranked 6th among Chinese smartphone vendors, holding a 16% market share, compared to the ranking in the same period last year. It is said that it has lowered by three places.
Jin also reiterated frequent promises by Beijing officials that China will strive to provide a “better environment” for global investors and “continue to expand high-level opening-up.”
This was Cook’s second visit to China this year. His posts on Chinese social media platform Weibo, such as It is shown that he toured the ancient district with the artist.
Cook added that he met with students from China Agricultural University and Zhejiang University to get feedback on how iPhones and iPads can help farmers adopt more sustainable practices.
Some information in this report was provided by Reuters and AFP.
