Reference News Network, October 17 - According to Reuters, on October 14, Apple CEO Tim Cook met with Minister of Industry and Information Technology Li Licheng in Beijing on the 15th, stating that Apple will continue to increase its investment in China.

According to the report, Li Licheng said he hopes Apple will continue to deepen its presence in the Chinese market and work with upstream and downstream enterprises in the Chinese industrial chain for collaborative innovation. He also said that China will further create a favorable business environment for foreign enterprises including Apple.

According to a post by Cook on Weibo, during his visit to China this week, he also visited an Apple store in Shanghai and met with Chinese game developers and the designer of the pop-up toy La Bulu.

The report said that Chinese Ambassador to the United States Xie Feng stated at an event in Washington on October 14 that the business community has always been a stabilizer and promoter of practical cooperation in Sino-US relations. He added that a large number of American companies "choosing China" vividly practiced the principle of benefiting both China and the US and the world.

According to Reuters on October 14, Albert Bourla, CEO of Pfizer, said on October 14 that the U.S. pharmaceutical industry needs to cooperate with China, as 30% of global drugs were developed there over the past decade.

According to the report, Bourla said at the annual award dinner of the U.S.-China Relations Council in New York: "In biopharmaceuticals, China's astonishing speed, cost and scale have changed the global competitive landscape."

Despite the ongoing trade war between Beijing and Washington, U.S. and European pharmaceutical companies are turning their eyes to China to supplement their drug channels.

The report said that earlier this year, Pfizer reached an agreement to obtain exclusive licensing rights for an innovative cancer immunotherapy from a Chinese pharmaceutical company.

Bourla said: "Chinese biotechnology companies accounted for nearly one-third of the major pharmaceutical licensing deals globally last year, and the source of innovation has undergone a significant change."

According to the website of Singapore's Straits Times on October 16, executives from JPMorgan Chase and Goldman Sachs said on October 15 that even as tensions between the U.S. and China escalate, the two banks will continue to conduct business in China.

The report said that JPMorgan's Vice Chairman Pinto said that despite changes in its business in China, the bank continues to invest in China.

Pinto believes that if Sino-U.S. relations improve, "our business volume will be several times larger than now," but so far, we continue to invest, and manage investment risk exposure, size, liquidity and quality cautiously.

Goldman Sachs' President Wertheimer said that Goldman Sachs will also remain in China. Wertheimer said at a meeting held in Washington on October 15: "We will not leave China. We have always been involved in these markets. This year, we have completed several important capital market transactions in cooperation, providing support for financing for companies headquartered in China."

According to the website of Hong Kong's South China Morning Post on October 15, Dan Watkins, CEO of Morgan Asset Management Asia-Pacific, recently said that China will become one of the "super contributors" in the company's five-year plan, which aims to double the asset management scale in the Asia-Pacific region to about $600 billion within five years.

According to the report, Watkins said: "Our long-term goal is to expand the business scale in the region to $1 trillion."

He emphasized: "China is one of our important long-term strategic priorities. I have great confidence in the long-term prospects of onshore China asset management business." Business in China will account for a "large part" of the company's regional and global operations.

The report said that Watkins' assessment reflects that, against the backdrop of rising global geopolitical tensions, international investors are increasingly turning to large companies in China's technology and energy sectors to diversify their investment portfolios.

Watkins pointed out that with the growing interest of international and Chinese retail investors in Chinese stocks, exchange-traded funds (ETFs) will become a growth area.

According to data from Morningstar, the total scale of Chinese ETFs exceeded 5 trillion yuan in August.

China has surpassed Japan to become the largest ETF market in the Asia-Pacific region, highlighting its potential to help international investors diversify their portfolios and achieve stable returns. (Translated by Yang Xinpeng, Lin Zhaohui, Yang Xuele)

This photo was taken at the medical equipment and health care exhibition area of the 7th China International Import Expo showing the Pfizer booth (photographed by Xin Yuewei)

Original: https://www.toutiao.com/article/7562025402839941670/

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