Apple Chief Returns to China as Beijing Prepares to Fete CEOs
(Bloomberg) — Apple Inc. Chief Executive Officer Tim Cook is visiting China for at least the third time this year, showing up at a suppliers’ conference on the same day a top Beijing official convened an important meeting with a group of foreign CEOs.
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Chinese Premier Li Qiang is expected to meet with top corporate executives on Monday ahead of the event, just as companies worldwide are bracing for President-elect Donald Trump’s threat to hike tariffs on Chinese goods. Disruptions to trade are a source of concern especially for Apple, which makes the majority of its iPhones through Foxconn in the country and counts China its biggest market after the US.
Cook’s agenda in the capital is unclear. The CEO made it a point to emphasize the importance of the Chinese supply chain during brief remarks carried by a social media account linked to state broadcaster China Central Television. “I value them very highly. We could not do what we do without them,” Cook said in response to a question about Apple’s Chinese partners.
Li is likely to address a gathering of businesspeople and hear from top executives of global firms such as Rio Tinto Plc, Corning Inc. and Charoen Pokphand Group, Bloomberg News has reported. The discussions will likely cover a wide range of supply chain and trade flow issues.
The Apple CEO was in the capital just last month, when he promised to keep investing in the country and also underscored its vital role in the iPhone maker’s global operations. Over the weekend, Nvidia Corp. honcho Jensen Huang was in Hong Kong receiving an honorary doctorate.
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