China welcomes Nvidia's continued investment in its market

Chinese Vice Commerce Minister Wang Shouwen said on Monday that China supports efforts by U.S. chip maker Nvidia to continue to take root in China, and pledged to create a more favorable environment for foreign companies. "A more open China will provide foreign-invested enterprises with broader development opportunities," Wang said.

Wang, who is also China's international trade representative, met with Jay Puri, executive vice president of worldwide field operations for Nvidia's global business, in Beijing on Monday. The two sides discussed various topics, including Nvidia's development in China, the Ministry of Commerce (MOFCOM) said on its official WeChat account.

Wang welcomed Nvidia's continued investment in China, and encouraged the company to seize development opportunities. He also expressed readiness to listen to corporate needs in order to create a better business environment for foreign enterprises operating in China.

The talks also came while Apple CEO Tim Cook was making his third business trip to China this year, during which he toured the site of the 2nd China International Supply Chain Expo on Monday.

During his visit to the expo for the first time, Cook said he values Apple's Chinese partners very highly, as Apple can not do what it does without them.

Wang also said that China's Ministry of Commerce is willing to strengthen communications with its U.S. counterpart, as well as to expand cooperation, resolve differences, and jointly push forward the two countries' economic and trade relations to the right track, so as to better benefit both countries and the world.

For his part, Puri stated that Nvidia views China as a crucial market and will continue to strengthen communication with its Chinese partners. He affirmed the company's commitment to providing high-quality and efficient products and services while actively participating in the development of China's digital economy.

On November 21, Nvidia reported revenue of $35.1 billion for the third quarter ending October 27, marking a 17 percent increase from the previous quarter and a 94 percent rise compared to the same period last year, the Xinhua News Agency reported.