China says easing market access in response to 'uninvestible' comment from US

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China has defended its business practices after US Commerce Secretary Gina Raimondo said American firms had told her that China had become 'uninvestible' and 'too risky.'

FILE PHOTO: U.S. Commerce Secretary Gina Raimondo addresses the media during the Indo-Pacific Economic Framework meeting in Detroit, Michigan U.S. May 27, 2023. REUTERS/Rebecca Cook/File PhotoFILE PHOTO: U.S. Commerce Secretary Gina Raimondo addresses the media during the Indo-Pacific Economic Framework meeting in Detroit, Michigan U.S. May 27, 2023. REUTERS/Rebecca Cook/File Photo

“China is actively advancing its high-level opening-up and making efforts to provide a world-class, market-oriented business environment governed by a sound legal framework,” he said. “China will only open its doors even wider to the outside world.”Raimondo is in Shanghai on Wednesday for the last day of meetings before returning to the United States.

The comments, made to reporters aboard a high-speed train as her delegation of US officials headed from Beijing to Shanghai, provided a bleak picture of how American firms view China, and were the most blunt Raimondo has made on her trip. She said there was “no rationale given” for Chinese actions against chipmaker Micron Technology, whose products were restricted by Beijing this year, and rejected any comparisons to US export controls. Raimondo said this week she did not pull any punches in meeting with Chinese officials discussing the concerns of US businesses, including raising the treatment of Micron.

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