China has not banned government workers from using iPhones, but does have concerns about security issues related to the Apple (AAPL) product, Chinese Foreign Ministry Spokesperson Mao Ning said on Wednesday, countering reports of a government ban that contributed to a 6% drop in Apple's share price last week.
Key Takeaways
- China did not ban government workers from using Apple’s iPhone, according to the Chinese Foreign Ministry.
- The Chinese government voiced concerns about possible security issues with the iPhone.
- Apple shares have not yet recovered from losses following last week's reports of a ban, but were up 35% year-to-date as of Wednesday morning.
“China did not issue any law, regulation or policy document that bans the purchase and use of cellphones of foreign brands,” Chinese Foreign 🍸Ministry spokesperson Mao Ning said, rebutting reports that officials were barred from using iPhones at work.
While denying a ban, she did voice concerns about security issues associated with Apple’s iPhone. “R🗹ecently we did notice media reports about security issues related to the iPhone,” Mao Ning said.
“We hope all cellphone companies operating in China will strictly abide by China’s laws and regulations” that are intended to “enhance information security ma♕nage🍌ment, protect consumers’ data stored in the cellphones against theft by any individual or organization, and ensure information security,” she added.
The supposed ban, which was reportedly to reduce China’s reliance on foreign technology and improve cybersecurity, was first reported by the Wall Street Journal on Sept. 6, citing people familiar with the matter.
Shares of Apple 澳洲幸运5官方开奖结果体彩网:took a hit following the news and lost 6% of their value last week. While they haven't yet recovered from last week's losses, shares were still up close to 35% year-to-date as of 10:45 a.m. ET on Wednesday morning, far outperforming the S&P 500's 16% gain over the same period.
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