US companies need more predictable regulation in China. That’s what US Secretary of Commerce Gina Raimondo said at the end of her three-day visit to the country. The minister spoke with political and business leaders in China to improve economic ties between the two superpowers.
“Nothing good comes from a lack of communication or disconnection,” Raimondo said, adding that US companies want a less arbitrary regulatory environment in China. Raimondo, who visited a Boeing aircraft hangar at one of Shanghai’s airports on Wednesday, described the trip as “very productive”.
Earlier this week, she said US companies indicated that investing in the world’s second-largest economy has become “difficult.” “More and more often, I hear from companies that investing in China is no longer possible because it has become too risky.”
She also stressed that China and the United States must communicate more. The two countries have announced a new exchange of information and cooperation to discuss trade and investment issues. According to the minister, trade can help improve ties between the two largest economies in the world because it is a way to reduce tensions and offers concrete opportunities to work together.
Raimondo also spoke to Chinese officials during her visit about a recent hack of her emails. She used that as an example of an action that erodes trust between the two countries.
Raimondo is the fourth senior member of President Joe Biden’s administration to visit China in a short period. Foreign Secretary Antony Blinken, Finance Minister Janet Yellen and climate envoy John Kerry visited the country earlier. So far, the visits have yielded few breakthroughs, but both sides see the talks as a positive step for mutual relations.