Apple bets on China: Tim Cook promises increased investments

Apple CEO Tim Cook reaffirmed during a meeting with China's top technology official the company's commitment to continue investing heavily in China. This pledge underscores the crucial role that China plays in Apple's global operations. Cook's visit, his second this year, aimed to further deepen collaboration and promote the growth of the high-quality supply chain, according to a statement from China's Ministry of Industry and Information Technology. The discussion with Minister Jin Zhuanglong focused on Apple's presence in China, the development of cloud services, and the secure management of online data. Jin urged for additional investments in innovative technologies. Amid economic uncertainties, China is actively seeking investments from global companies to support its economy, while foreign investors have withdrawn significant capital due to their skepticism about the world's second-largest economy. Apple works with numerous suppliers, including iPhone assembler Luxshare Precision Industry, and plays a central role in the Chinese labor market. Following the recent unveiling of Apple's new iPhones, the company saw a 20% increase in sales in the first three weeks compared to the previous year, boosting investor confidence. At the same time, Apple is striving to introduce artificial intelligence services for Chinese users, although comprehensive regulatory processes must still be completed. Apple has yet to find a partner for its AI offerings in China, despite reaching an agreement with OpenAI to integrate ChatGPT into its latest smartphones. Due to regulatory requirements, providing generative AI services in China is challenging, and so far no major US startup has received approval from Beijing, further fueling technological tensions between the US and China.