China tries to ease fears over its private sector

Here’s what else you need to know about China today:

Top story: How safe is it to do business in China? Chinese authorities made a surprise raid on U.S. due diligence and private investigation firm Mintz Group’s Beijing office last week. The move reflects Xí Jìnpíng 习近平 and the Communist Party’s tighter grip on information and security, and the U.S. and China’s worsening business relationship.

Apple showered China with praise as CEO Tim Cook attended the China Development Forum in Beijing over the weekend. However, the company has been looking to reduce its reliance on China and is in the midst of moving production to new locations such as India. Last year was one of Apple’s toughest years in China, according to the Financial Times, thanks to COVID ravaging supply chains and workforce unrest breaking out in the Zhengzhou factory of the company’s biggest supplier, Foxconn, where 60% of iPhones are made.

Foxconn’s billionaire founder is considering running for Taiwan’s presidency. Terry Gou (郭台銘 Guō Táimíng), whose company manufactures many of Apple’s products, left Taiwan today to embark on a 12-day visit to the U.S. for what his office described as a “journey of scientific and technological economic development.” However, Taiwanese presidential candidates traditionally go to the United States before elections given Washington’s role in ensuring Taiwan’s security. President Tsai Ing-wen (蔡英文 Cài Yīngwén) is also expected to pass through sometime this week.

Taiwan’s former president has landed in China, with the stated goal of ensuring that “peace can come to Taiwan soon.” Ma Ying-jeou (馬英九 Mǎ Yīngjiǔ) is the first former or current Taiwanese government head to make such a journey since the Chinese civil war ended more than seven decades ago. He will travel to five major cities with a delegation of about 30 students and some former aides in the hopes of improving cross-strait relations. Not everyone is happy: Former Taiwanese president Chen Shui-bian (陳水扁 Chén Shuǐbiǎn) said Ma was “cooperating with China to suppress Taiwan” (配合中國打壓台灣).

Alibaba founder and billionaire Jack Ma (马云 Mǎ Yún) is back in China amidst attempts by the government to ease private sector fears. His return follows two years of crackdowns on entrepreneurs and internet companies that Ma himself got caught up in following his harsh comments about financial regulators during a speech he gave in October. Now China’s government hopes to restore its COVID-battered economy; Ma’s appearance could help.