SHANGHAI/WASHINGTON — China has defended its business practises after US Commerce Secretary Gina Raimondo said American firms had told her it had become "uninvestible," highlighting a trend of global investors turning away from assets in the world's second-largest economy.
Asked to respond to the comments Raimondo made in China, the spokesperson for the Chinese embassy in Washington, Liu Pengyu said that most of the 70,000 US firms doing business in China wanted to stay, that nearly 90 per cent were profitable, and that Beijing was working to further ease market access for foreign companies.
Asked what her message was to US business in China, Raimondo said: "The message is to continue to do what you're doing. We want you here investing, growing." 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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