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As China has mature manufacturing foundations, the country doesn't need to rely on machinery and parts import from the US. Germany, Sweden, France, Japan and South Korea can meet the country's demand for various industrial parts and equipment, he said.

Apple declined 0.39 percent. It reported a slight uptick in year-over-year revenue on Thursday despite supply chain disruptions and closure of its stores in China and worldwide due to the coronavirus pandemic. Apple offered no earnings guidance for the current quarter because the pandemic creates too many unknowns.

Apple’s Tim Cook, left, and Amazon’s Jeff Bezos during a gathering of tech execs at Microsoft to greet Chinese President Xi Jinping in 2015. (GeekWire File Photo)

Apple's warning that its revenue may be lower than expected due to the coronavirus outbreak in China was a factor in the Dow Jones Industrial Average falling Tuesday.

Around 200 professionals from the film and copyright industry and media attended a conference in Beijing on Monday, discussing intellectual property incubation in China amid the country's drive to protect intellectual property.