Apple CEO Tim Cook joined a high-profile gathering of over 20 global business leaders in Beijing on Monday, meeting with Chinese Premier Li Qiang.
The discussions, which included prominent figures from companies like Rio Tinto, Corning, and Charoen Pokphand Group, centered on supply chain stability and trade relations.
This meeting comes as international businesses navigate growing economic uncertainties and potential trade disruptions.
A focus on supply chains and trade
The meeting, held just before a supply chain expo in Beijing, included Chinese business leaders such as the heads of Lenovo and ICBC.
The discussions focused on critical issues surrounding supply chains and trade, according to a guest list obtained by Bloomberg News.
This high-level dialogue marks the first such engagement between foreign corporations and a senior Chinese official since Donald Trump’s re-election.
The timing is significant, as businesses worldwide anticipate potential tariff increases on Chinese goods under the incoming Trump administration.
China’s premier rejects decoupling
Premier Li Qiang addressed the gathering, emphasizing China’s opposition to decoupling from the global economy and stressing the importance of maintaining stable global supply chains, as reported by China National Radio.
He also reaffirmed China’s commitment to continued economic development.
Apple’s deep ties to China
Trade disruptions are a particular concern for Apple, which heavily relies on China for iPhone production and considers it a crucial market.
The majority of iPhones are manufactured by Foxconn in China, and the country represents Apple’s largest market outside the US.
This underscores the significance of the meeting for Apple and its CEO.
This visit marks Cook’s third trip to China this year, highlighting the importance of the relationship.
Just last month, Cook reiterated Apple’s commitment to continued investment in China and emphasized the country’s vital role in Apple’s global operations.
During Monday’s meeting, Cook reinforced this message, publicly praising Apple’s Chinese partners.
“I value them very highly. We could not do what we do without them,” Cook stated in response to a question about these partnerships, according to a social media account linked to China Central Television.
Beijing seeks foreign investment amid economic challenges
China’s government has been actively encouraging foreign investment as the country grapples with a post-Covid economic slowdown.
The meeting with Premier Li reflects this effort to maintain strong ties with international businesses.
AmCham China participates in high-level dialogue
The American Chamber of Commerce in China (AmCham China), represented by President Michael Hart, confirmed its participation in the meeting.
The discussions focused on strengthening supply chain resilience and expanding bilateral and multilateral engagement.
This marks AmCham China’s first meeting with a Chinese premier since May 2022.
Premier Li previously held a roundtable with foreign executives earlier this month at the China International Import Expo in Shanghai.
Among the prominent figures attending Monday’s meeting were Thai billionaire Dhanin Chearavanont, Sumitomo Electric Industries Ltd.
Chairman Matsumoto Masayoshi, Robin Zeng of Contemporary Amperex Technology Co., and Li Dongsheng, chairman of TCL Technology Group Corp.
The gathering coincided with Nvidia Corp.
CEO Jensen Huang’s visit to Hong Kong over the weekend to receive an honorary doctorate.
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