The Information has published reports that Tim Cook has signed a contract with the Chinese government. In it, he made a commitment that his company would help develop the Chinese economy in exchange for concessions in connection with the conducted economic activity.
The deal is reportedly worth more than $ 275 billion. The information allegedly comes from interviews and internal company documents. The agreement was signed in 2016, when Tim Cook visited the country several times. The aim was to establish a positive relationship with the government there. Officials of the country allegedly believed that Apple was heavily exploiting Chinese factories and local labor, but was not making a sufficient contribution to the development of the economy.
Cook lobbied Chinese officials
The documents mentioned at the beginning reported that Cook tried to personally influence Chinese users when they were not convinced about Apple’s operation in China and its products and services.
Apple Store in the Chinese city of Changsha
The negotiations were successful, and as a result, a Chinese government agency called the National Development and Reform Commission agreed to make all sorts of concessions related to Apple’s business in this country in return for multi-billion investments.
As part of the agreement, the company is to support the development of Chinese entrepreneurs, cooperate in the field of research with national universities and use more components produced by local companies.
It is also worth adding that Apple is said to be very dependent on the influence of Tim Cook. It is speculated that his departure could negatively affect the company’s negotiating position.