In 2016, as reported today by The Information, Apple would have entered into a five-year agreement with the Government of China. Underlying the agreement is Apple’s commitment to invest, by May 2022, a total of 275 billion dollars in the Chinese economy. The investments of the Cupertino company have been and will be aimed at strengthening strategic sectors of the Chinese technology industry. The agreement between Apple and China was wanted and managed personally by CEO Tim Cook who formalized the agreement during his visit in 2016.
There is a multi-billion dollar agreement between Apple and China
As a result of this agreement, Apple has investment and will continue to invest (until May next year) in the Chinese economy. Investments concern various strategic fields and they will guarantee strong growth for the local economy. Thanks to this agreement, China has significantly eased its positions on the AppStore and on services such as Apple Pay and iCloud that can operate in compliance with strict local rules. The magazine revealed the agreement between the parties for the first time The Information.
A win-win agreement for both parties
Apple, after some difficulties, is returning to rapid growth in Cina. The secret agreement between Cupertino and the Chinese government may have played a very important role in laying the foundations for the company’s current results. In the future, once the investment agreement ends, it is possible that the parties will form a new understanding that could be profitable for both. More details on the matter will certainly come in the future.