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Apple has lowered its revenue forecast for the first time in almost two decades, citing weakening demand and lower-than-expected iPhone revenue in China as among the factors.

Apple relaxed part of the rules in June, no longer requiring in-app purchases to be the same price or less than the same items sold outside the apps.

As China needs to invest 2 to 4 trillion yuan (0 billion to 0 billion) annually in the next five years in order to counter the impact of pollution and climate change, the nation needs to come up with a green financing mechanism to facilitate its transition to sustainable growth, said Zhou Xiaochuan, former governor of the People's Bank of China.

Artists from Kyrgyzstan stage a performance at a dance show held during an SCO members' art festival in Beijing on June 1. [Photo/Xinhua]

Apple investors have been worried about China since the company last month lowered guidance for the quarter due to economic pressures in the region and weak iPhone sales. CEO Tim Cook also blamed trade tensions between the US and China for the slowdown in sales.