Apple Deepens Its Roots: New Investments in China

Apple plans to increase its investment in China, as CEO Tim Cook discusses cooperation with Beijing's industry minister. Despite U.S. tariffs, Apple is countering by expanding investments in the U.S. and setting up a clean energy fund in China worth 720 million yuan.

Apple is gearing up to expand its investment footprint in China, according to CEO Tim Cook during a meeting in Beijing with China's industry minister. The discussion highlights efforts to boost cooperation amidst global supply chain challenges.

The move comes as Apple seeks to navigate U.S. tariffs targeting goods shipped from production powerhouses like China and India. In response, the company is funneling $600 billion in investment into the United States over the next four years. Despite these challenges, China is enthusiastic about Apple's market prospects, as noted by Li Lecheng, the official also overseeing information technology.

While exact investment details remain under wraps, Apple CEO Cook is currently in China, where he is engaging with local tech talent and store locations. He also announced the pre-order availability of the iPhone Air after securing telecom partnerships for eSIM support. Additionally, Apple's commitment to sustainability is evident in its new 720 million yuan clean energy fund initiative.

(With inputs from agencies.)