Apple disclosed that over 95% of the 3.76 trillion yuan (US$519 billion) generated through its App Store in China last year was returned to local developers and businesses.

This information, based on research by Shanghai University of Finance and Economics, was published on Apple’s China website.

CEO Tim Cook cited on Weibo that the App Store supports local business growth.

There is no confirmation whether Apple funded the study. This report emerges as Apple encounters competition from Huawei Technologies.

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