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Tim Cook allegedly pledged $275 billion to China in ‘secret’ investment deal

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Tim Cook's secret China investment deal: The agreement is said to have helped settle tensions with Chinese authorities.
The agreement is said to have helped settle tensions with Chinese authorities.
Photo: Fortune Global Forum/Flickr CC

Apple CEO Tim Cook “secretly” struck a deal with China in which he agreed to invest around $275 billion of Apple’s money to boost the country’s economy and “technological prowess,” according to a new report.

The five-year agreement was allegedly made during a series of visits Cook made to China in 2016 amid growing regulatory hostilities toward Cupertino. Since then, Apple has become China’s biggest smartphone brand.

China orders Apple-backed ride-hailing service Didi Chuxing booted from App Store

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tim cook in a car
Tim Cook catches a cab with Didi Chuxing's Chuxing's Jean Liu.
Photo: Tim Cook/Twitter

The app for Didi Chuxing, the popular Chinese ride-hailing service, has been removed from the App Store in China, citing privacy concerns.

This is no usual case of Apple booting an app from the App Store for failing to measure up to its standards, though. In fact, Apple CEO Tim Cook sits on Didi’s board of directors, and Apple previously invested $1 billion in the Chinese Uber rival. Instead, the ban was ordered by China’s Cyberspace Administration of China regulators — citing “serious violations [regarding] collection and usage of personal information.”

Didi Chuxing may cure world of traffic jams, says Tim Cook

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tim cook in a car
Tim Cook catches a cab with Didi Chuxing's Chuxing's Jean Liu.
Photo: Tim Cook/Twitter

Apple CEO Tim Cook had nothing but high praise for Didi Chuxing CEO Jean Liu in an exert he wrote about her for Time magazine.

Liu was named one of Time’s 100 most influential people of 2017. Cook, who sits on Didi’s board, was asked to write about Liu and said that her taxi-hailing startup is changing how people in China connect and commute with its convenience and flexibility.

Apple joins board of ‘Chinese Uber’

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Didi Chuxing is China's answer to Uber, but is much bigger. Apple just made a $1 billion 'strategic' investment in the company.
Apple's "strategic" investment is paying off.
Photo: Virginia Werner / Cult of Mac

Apple has scored a seat on the board of Didi Chuxing, the Chinese Uber rival that Apple invested $1 billion in earlier this year.

Although Didi Chuxing denied it at the time, regulatory filings show that Apple took the board position in late June, one month after it made its generous investment — designed to aid Apple’s continued push into China and interest in shaking up the automotive industry.

Apple invests $1 billion in Chinese Uber rival

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money
Apple just made a big investment in China.
Photo: Cult of Mac

Apple has invested $1 billion in Chinese Uber rival Didi Chuxing in a move that continues Apple’s push into China and confirms the company’s interest in shaking up the automotive industry.

According to Tim Cook, the deal “reflects our excitement about their growing business … and also our continued confidence in the long term in China’s economy.” Perhaps more importantly, it could give Apple strategic insights and competitive advantages when it comes to Apple Pay and a possible Apple Car.