A flagship store of Apple in Shanghai Photo: VCG

US tech giant Apple saw improved performance in the Chinese market for its fiscal 2024 fourth quarter, while other US firms, including Starbucks, also reported solid revenue growth and steady expansion in China, according to the companies' latest financial reports. 

The reports showed that China remains a crucial market for many US companies, which remain committed to the Chinese market and are continuing to expand, despite the US' government's attempt for "decoupling," a Chinese expert noted on Friday. 
  
In its fiscal 2024 fourth quarter that ended on September 28, Apple's revenue in Greater China reached $15.03 billion, down 0.34 percent year-on-year, the company announced on Thursday US time. However, the decline rate narrowed significantly compared to a 6.5-percent year-on-year drop in the previous quarter.

Meanwhile, US coffee chain Starbucks set new records by opening 790 new stores and entering 166 new county-level markets on the Chinese mainland in its fiscal year that ended on September 29, 2024. In its fiscal fourth quarter, Starbucks added 290 new stores on the Chinese mainland, the company said in a statement sent to the Global Times on Friday.  

In terms of revenue, in its fiscal fourth quarter, Starbucks' revenue in China reached $783.7 million, marking a 6 percent increase from the previous quarter, despite a 7-percent drop on a year-on-year basis, according to the statement. 

Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing, said that it is normal for companies to see short-term fluctuations in any market economy, and companies usually focus on long-term growth prospects. 

"US companies' expansion in the Chinese market showed that they are confident about China's market potential," Gao told the Global Times on Friday, noting that many US companies that target daily consumers will enhance cooperation with China despite the US government's attempt for decoupling.  

In addition to Starbucks, Apple is also seeking to expand in the Chinese market. During a meeting with Chinese Commerce Minister Wang Wentao on October 25, Apple CEO Tim Cook said that China's rapid development has helped Apple achieve fast and sustainable growth, and the company will increase investment in supply chain, research and development and other areas.

Meanwhile, many US companies are also actively attending major trade expos to promote their products in the Chinese market. 

Meng Pu, chairman of Qualcomm China, said that the company looks forward to showcasing the results of its innovative cooperation with Chinese partners at the upcoming China International Import Expo (CIIE) and further expanding the "circle of friends" in China, the Xinhua News Agency reported on Friday. 

In addition to the CIIE, many US companies will also attend the upcoming second China International Supply Chain Expo. International exhibitors will make up 32 percent of participants at the expo, surpassing last year's level, with US companies making up the largest share of overseas participation, Xinhua reported.