Economics and Reforms

Apple's iPhone 7 and 7 Plus models entered the Chinese market with pre-orders of the 7 Plus, and the iPhone 7 in jet-black color, already sold out. Customers lined up outside the Apple store in Beijing's Sanlitun shopping area early in the morning, waiting to collect their pre-ordered mobile phones.

One customer who declined to be named said, the most attractive parts of the new iPhone are the double lenses and the water-proof funtion.

"Many of my friends are Apple enthusiasts who like to be the first to try new products. Others are turning from the iPhone to cheaper domestic smart phones," he said.

Starting on September 14, Chinese customers can download Apple's new iOS 10 operating system, featuring an anti-crank calls function based on data provided by Internet companies.

Apple's Q3 Greater China revenue was $8.85 billion, down 33 percent year on year.

The company's stock has surged 11 percent over the past four trading sessions, since the release of the new iPhone models.