Apple secretly signed a $275 billion deal to widen the road in China?

Apple secretly signed a $275 billion deal to widen the road in China?


2021-12-11 02:45:59

Apple CEO Tim Cook is said to have signed an agreement with the Chinese government in 2016. (Image: Getty Images)

The Information reported that CEO Tim Cook signed an agreement with the Chinese government in 2016. The five-year deal is worth at least $275 billion, to appease officials who believe Apple is not contributing enough to the economy. this country.

According to internal documents obtained by The Information, in 2016 Cook lobbied government officials to ignore actions that could threaten services like the App Store, Apple Pay, and iCloud. He made the deal on his first visit of the year, when iPhone sales plummeted due to regulatory authorities.

A source close to the matter said that Apple’s government relations department in China has created a memorandum of understanding with the National Development and Reform Commission to create friendly relations with the country’s leaders. Apple officials also made meeting the most senior Chinese officials a priority, after the 2016 crackdown affected iTunes books and movies.

The deal includes a commitment from Apple to help Chinese manufacturers develop “the most advanced manufacturing technology” and train staff. At the same time, using more Chinese suppliers for parts in Apple devices, signing contracts with Chinese software firms, partnering with Chinese universities in technology, and investing “multi-billions of dollars.” USD more” into China. Some of the investment money flows into domestic technology firms, others focus on new retail stores, renewable energy projects, research and development centers.

Along with China’s 13th Five-Year Plan, Apple continues to pledge to “grow together with Chinese enterprises for mutual benefit”, to help develop China’s information technology industry, to promote promotion of science, technology, education and environmental protection. In return, China agreed to provide “necessary support and assistance” to Apple, according to The Information.

It looks like Apple is close to finalizing its deal. The company announced a transaction with China’s largest wind turbine manufacturer in 2016 and moved iCloud operations to China in 2017, opened a $300 million clean energy investment fund in China in 2018, opened 11 stores retailers in the mainland, allowing manufacturer Luxshare Precision Industry to manufacture the iPhone 13.

Recently, Apple’s business in China boomed with record sales of $86 billion in 12 months (ending September 2021). China accounts for one-fifth of Apple’s total sales.


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