Tim Cook signed a ‘secret $275billion deal with China in 2016 promising to help develop their economy in return for quashing regulatory actions against Apple’ By Ariel Zilber For Dailymail.com Published: 14:49 GMT, 7 December 2021 | Updated: 15:00 GMT, 7 December 2021 1 Viewcomments Apple CEO Tim Cook personally met with Chinese government officials in 2016 and forged a secret $275billion deal with Beijing allowing the iPhone maker to freely do business on the mainland in exchange for helping it develop its technology sector. Cook visited China in 2016 after government regulators began to pass a series of measures that hampered the tech giant's activities in the country, according to The Information. Apple executives were alarmed at the Chinese government's threats against features such as Apple Pay, iCloud, and the App Store, prompting Cook to hold a series of secret meetings with Beijing officials. Cook and Communist Party officials came to a 'memorandum of understanding,' according to the report. Apple agreed to a series of concessions in exchange for regulatory exemptions from the Chinese government, The Information reported. In May of 2016, the company agreed to invest $1billion in Didi Chuxing, the Chinese ride-sharing startup. It also pledged to expand employee training in the country. The agreement is credited with paving the way for Apple's sweeping success in China. The company reported $17.7billion in earnings in Greater China in the second quarter of this year - up 87.5 percent from the same period last year. The iPhone recently became the top-selling smartphone, according to The Information, which reviewed internal company documents. Apple did not immediately respond to a Reuters request for comment. American corporations have come under criticism at home for expanding their business operations in China, which has been accused of human rights violations against Uyghur Muslims. Apple CEO Tim Cook (seen above in Los Angeles on November 19, 2021) personally met with Chinese government officials in 2016 and forged a secret $275billion deal with Beijing allowing the iPhone maker to freely do business on the mainland in exchange for helping it develop its technology sector Last month, Cook told a business forum that he felt Apple had a 'responsibility' to sell its products in as many countries as possible, including China. 'World peace through world trade,' Cook said. He acknowledged that the company would have to 'acknowledge that there are different laws in other markets.' Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility