Raimondo calls for stable business environment
The United States wants to work with China to ensure a more "predictable" environment for American businesses in Shanghai, US Commerce Secretary Gina Raimondo told officials in the economic hub on Wednesday. Speaking with Shanghai Communist Party chief Chen Jining on day four of a bridge-building trip to China, Raimondo said a "stable economic relationship is good for America, good for China and good for the world". "The US-China economic relationship is among the most consequential in the world," she told Chen. Raimondo told Chen she was looking forward to talks to "bring about a more predictable business environment, predictable regulatory environment, and a level playing field for American businesses here in Shanghai". US firms in China have long complained about what they see as an unfair business environment, with limited protection for intellectual property and preferential treatment afforded to domestic competitors. In a Tuesday meeting with Vice Premier He Lifeng in Beijing, Raimondo raised what Washington sees as unfair trade practices by China, according to a US Department of Commerce readout. She also emphasised the "importance of strengthening the protection of trade secrets for US businesses operating in China". The vice premier expressed Chinese concerns on topics including "Section 301" US tariffs, export controls and two-way investment restrictions, the Chinese government said. The US commerce secretary is one of a number of senior White House officials to visit China in recent months, part of an effort by Washington to improve its working relationship with its largest strategic rival. (Reuters)