China tells Tim Cook it will create ‘good environment for foreign companies’
Beijing, Mar 27 (EFE).- China is willing to “provide a good environment and services to companies with foreign capital,” China’s Commerce Minister Wang Wentao told Apple’s CEO Tim Cook on Monday.
During a meeting, Wang told the United States businessman that his country “has firmly pushed for a high level of openness” and promoted “rules, regulations, management and standards based on openness,” said a statement from the Trade Ministry.
The minister and Cook “exchanged views on Apple’s development in China and stabilization of the industrial supply chain,” the ministry said.
Cook participated Saturday in the China Development Forum, where he was “excited” to return to the country, which he had not visited since the Covid-19 pandemic began, local media reported.
During the unannounced visit to Beijing, the businessman highlighted the rapid advances in innovation in the country.
According to data from the IDC consultancy, the US company experienced a 12.7 percent decline in its smartphone sales throughout 2022 in China, a market in which sales of these devices fell by 12 .6 percent.
This caused problems in its production lines in China due to the confinement of its supplier Foxconn’s factory in Zhengzhou, the main iPhone assembly factory in the country, one of the factors that caused Apple’s profits to fall 13 percent year-on-year between October and December. EFE