Chinese commerce minister meets Apple's Tim Cook, Qualcomm's Amon, reaffirms nation's commitment to expanding opening-up

China's Minister of Commerce on Monday met with several U.S. senior executives, including Apple CEO Tim Cook and Qualcomm President and CEO Cristiano Amon, reaffirming China's commitment to expanding opening-up and encouraging foreign firms to participate in China's consumption-boosting policies such as the trade-in program.

In meeting with Cook, Chinese Minister of Commerce Wang Wentao emphasized that China's economy has demonstrated remarkable resilience and vitality, emerging as a hotbed for innovation and development, according to a release published on the website of the Ministry of Commerce (MOFCOM).

China remains steadfast in expanding opening-up, providing a level-playing field for foreign-invested enterprises and supporting products from foreign firms to fairly participate in China's consumption-boosting policies such as the trade-in program, Wang said.

"China welcomes Apple to expand its investments in China and deepen its integration into the Chinese market to jointly seize development opportunities," Wang said.

In terms of China-U.S. relations, Wang said that there are no winners in trade wars and protectionism offers no way out. China and the U.S. are the world's two largest economies, and strengthened China-U.S. economic and trade cooperation aligns with economic principles, whereas decoupling and supply chain disruptions would harm all parties involved.

"The unilateral tariff increases and other restrictive measures adopted by the U.S. side have disrupted corporate expectations and brought about uncertainties to the global economy," Wang said, noting that China stands ready to work with the U.S. to create a more stable policy environment for businesses through equal dialogue.

Cook said that Apple's development in China exemplifies mutual benefits and win-win outcomes of China-U.S. economic and trade cooperation. The company will continue to increase investments across its Chinese supply chain, R&D, and social responsibility initiatives, supporting China's high-quality development agenda, according to the MOFCOM release.

As the business community serves as a natural bridge between China and the U.S., Apple stands ready to play an active role in promoting the stable and healthy development of China-U.S. economic and trade relations, said Cook, according to the release.

During a separate meeting with Qualcomm President and CEO Cristiano Amon, Wang said the Chinese government remains unwavering in its commitment to expanding high-standard opening-up, further expanding market access, actively addressing corporate concerns, and helping foreign enterprises better integrate into the Chinese market, Wang said.

China is intensifying efforts to expand the scope of its trade-in program for consumer goods, unleashing enormous market potential that will create greater development opportunities for multinational companies, including Qualcomm, Wang said, according to a separate release by the MOFCOM.

"The development and application of semiconductor and AI technologies is an unstoppable trend," said Wang, hoping that Qualcomm can seize the opportunities presented by China's market development, continue to deepen its roots in China, and deliver more high-quality products and services to consumers.

Amon said Qualcomm has been operating in China for nearly 30 years, growing alongside the country's mobile communications industry and achieving remarkable success.

The company maintains strong confidence in China's future development and will continue to increase its investments in China, fully leveraging its role as a bridge to facilitate active dialogue between the U.S. and China, and striving to become a model of mutual benefit and win-win cooperation between the two countries, said Amon.