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Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Apple plans to increase investments in China

October, 24 2024
watermark Economic news

Apple CEO Tim Cook held a meeting in Beijing with representatives of the Chinese government, confirming the company's intention to increase investments in China. 


According to the state-run Xinhua news agency, Cook stressed Apple's desire to take advantage of the opportunities opening up in the Chinese market and promote the development of industrial and value chains.


This is Cook's second visit to Beijing this year, where he met with Minister of Industry and Information Technology Jin Chuanglong. During the meeting, Apple's development in China, online security and cloud services were discussed. Minister Jin expressed hope for deepening Apple's presence in the country, increasing investments in innovation and joint development with Chinese companies.


Such steps are being taken against the background of Apple's deteriorating position in the Chinese smartphone market, where the company is facing competition from local manufacturers.


Despite statements about increased investments, Apple shares on Wednesday showed a decline of more than 2%, reaching an almost two-week low. The fall in the share price was triggered by reports of a reduction in the volume of orders for the production of the new iPhone 16.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.