An unknown agreement between Apple and the Chinese authorities in 2016 was revealed by The Information. With a $ 275 billion five-year contract between the technology giant and a Chinese government agency, CEO Tim Cook aimed to avoid regulatory obstacles to the company's operations in the country. The agreement includes cooperation with local businesses and direct investment in Chinese companies, as well as a partnership in science and technology, the publication said, citing interviews and company documents.
In 2016, Apple's sales in China fell by 17% after the company fell under the target of Chinese regulators. According to The Information, services such as the App Store, Apple Pay and iCloud have been jeopardized. Cook then began lobbying Chinese government officials, and during one of his visits to the country, an agreement was reached with the National Development and Reform Commission, which secured Apple the favor of the authorities.
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