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Apple Inc unveiled larger iPhones and watches based on the design of current models on Wednesday, confirming expectations that the company is making only minor changes to its lineup.

As China continues to push for reforms on the equity structure of state-owned enterprises and state-owned banks, at least 1.5 trillion yuan of available fiscal capital will be freed up annually, the bank said.

Apple's purchase of Intel's smartphone modem patents and other technology could bolster its attempt to build its own line 5G chips and lessen its dependence on Qualcomm. The Cupertino, California, has hammered out a licensing agreement with Qualcomm that carries through April 2025, with an option to extend for an additional two years after that.

As CEO of SAIC GM, he led the launch of the General Motors Springo electric vehicle into the China market in 2011. He also launched the EREV Volt and a fuel-cell model at the Shanghai Expo 2010.

Apple broke a streak of declining revenue earlier this year, thanks to growth from its emerging services arm overshadowing its stagnant hardware division. In September, the company debuted the latest generation of iPhone, iPad, Apple Watch, and in the following months launched the Apple TV+ streaming service and the Apple Arcade gaming service.