US and China commerce ministers agree on better business environment

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Beijing: US Commerce Secretary Gina Raimondo and her Chinese counterpart Wang Wentao agreed on Monday on better trading conditions. Raimondo is on a visit to Beijing to improve the country’s relations with China. Prior to this, other US officials including US Finance Minister Janet Yellen had visited China in July.

They expressed hope for improved communications, but no progress was announced on disputes over technology, security, human rights and other issues that have sent relations between the two countries to their lowest level in decades. For its part, Chinese leader Xi Jinping’s government is looking to revive foreign investor interest in China as the country tries to deal with a deepening economic downturn.

China’s Commerce Minister Wang Wentao asked Raimondo to work together to “promote a more favorable policy environment for stronger cooperation” and “enhance bilateral trade and investment” between American and Chinese businesses. Raimondo said both sides are working on new dimensions of information to enhance greater interaction.

“It is extremely important that we have a stable economic relationship. I believe we can make progress if we are direct, open and practical. Raimondo also plans to meet Chinese Premier Li Keqiang and other officials during his two-day visit to Beijing and Shanghai.

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