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September 24, 2015

US tech leaders talk market progress with Chinese President

News: Regulation reform on the agenda.

By James Nunns

Leaders of some of the largest tech firms in the world have been meeting with Chinese President Xi Jinping.

Tech leaders such as Tim Cook of Apple, Ginni Rometty of IBM and Satya Nadella of Microsoft all met with the president.

The US companies are reported as being eager to tap into the Chinese market, with huge potential gains to be made. Regulation reforms, however, are seen as necessary to foster US tech growth.

Speaking in Seattle, Mr Xi, said: "Without reform, there will be no driving force; without opening up, there will be no progress."

Apple already makes around a quarter of its revenue from China, while Amazon, who was represented by founder Jeff Bezos, has struggled to make in-roads in the market. Regulation has been one of the main challenges for tech companies heading into China.

China is also in need of the tech firms; the demand for tech products is creating and maintaining millions of manufacturing jobs.

The US and China are in negotiations over a new trade agreement. This has been a complex process, with the added complexity of allegations regarding state backed cyber attacks.

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