Apple's CEO, Tim Cook, recently made his second trip to China this year. He met with Jin Zhuanglong, the Minister of Industry and Information Technology. This meeting was prompted by the Chinese government's demand for all apps, including those on Apple's App Store, to be vetted by Chinese authorities. Cook assured that Apple will continue to support its supply chain partners in China and foster growth. He also pledged to create a more conducive environment for local app developers. In August, the Chinese ministry issued a notice requiring all apps in China to register with mainland authorities by March 2024. In response, Apple updated its App Store rules, requiring app developers to obtain proper Chinese licensing before their apps could be available for downloads. This move sparked concerns about domestic consumers' access to foreign apps. Cook also expressed Apple's commitment to actively participate in China's high-quality development and contribute to building an eco-friendly and intelligent manufacturing industry. He visited Luxshare Precision Industry Co, a major Apple supplier. Jin expressed his hope that Apple would continue to invest in China and participate in the country's industrial upgrade. He also noted that China would further open up to the global economy by removing restrictions against foreign investment in the manufacturing industry. Cook's visit underscores the significance of mainland China, with its massive internet user population and the world's largest smartphone market, to Apple's manufacturing and overseas market. However, Apple's latest iPhone is facing stiff competition in the premium segment of China's smartphone market. The first 17 days of iPhone 15 sales were down 4. 5% in China compared to the iPhone 14's launch last year. Additionally, Huawei Technologies, which recently released its new Mate 60 Pro and Mate 60 Pro+ 5G handsets, is giving Apple a run for its money. Cook's last trip to China was a week-long tour in March, where he met with top Chinese officials and attended the China Development Forum in Beijing.
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