Tensions between Beijing and Washington have risen in recent weeks following Beijing's introduction of sweeping restrictions on exports in the rare earth sector.

In retaliation, US President Donald Trump announced 100 percent tariffs to take effect from November 1, but a potential upcoming meeting with Chinese counterpart Xi Jinping could provide a window to walk back from the brink.

Cook, who regularly visits the key Apple market and manufacturing powerhouse, met Chinese Commerce Minister Wang Wentao on Thursday, according to an official statement.

During their meeting, Wang urged Beijing and Washington to "seek solutions to problems through equal dialogue and consultation", the statement said.

Wang also said he welcomed Apple's "increased investment" in China.

The commerce ministry statement quoted Cook as saying he considered good economic relations between China and the United States as having "great significance".

The Apple boss also met Vice Premier He Lifeng, Beijing's chief trade negotiator, state news agency Xinhua said.

In an address to the advisory board of Tsinghua University School of Economics and Management -- which is chaired by Cook -- He said China was "willing to deepen mutually beneficial cooperation with countries worldwide", according to Xinhua.

Blackstone CEO Stephen A. Schwarzman was also in town, and met Foreign Minister Wang Yi, an official statement said.

"China-US relations are the most important bilateral relationship in the world today," Wang told Schwarzman.

"Decoupling and severing ties is not a realistic or rational choice and confrontation will only harm both sides," he added.

According to the statement, Schwarzman said he hoped the two sides would "eliminate misunderstandings".

ehl/pfc/dan

Apple

THE BLACKSTONE GROUP