SHENZHEN (China), Oct 15 (Bernama-dpa) – Tech giant Apple is set to increase investment in China, the country’s Technology Ministry said on Wednesday, reported German Press Agency (dpa).
Apple boss Tim Cook informed Chinese Technology Minister Li Lecheng that he planned to continue expanding in the Chinese market and drive forward innovative development along with Chinese companies.
The ministry’s announcement did not include details on the amount to be invested, and there was no immediate comment from Apple.
Apple has heavily invested in China, in both production and sales, and Cook has often visited the country. The company contributes significantly to employment through its suppliers and produces most of its iPhones in China.
The company is meanwhile expanding production in other Asian countries like India to reduce its dependence on China.
Cook is visiting China at a time of increasing tension and an escalating trade conflict between Beijing and Washington.
President Donald Trump is pressuring US companies to reshore production to the United States and calling for more investment in their home market.
Apple recently announced the investment of around US$600 billion in the US market over the next four years.
— BERNAMA-dpa