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☆ China is still years behind the U.S. despite Huawei's breakthrough chips, Raimondo tells '60 Minutes'
▼ + stars: | 2024-04-22 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Commerce Secretary Gina Raimondo on Sunday downplayed Huawei Technologies' latest microchip breakthrough, arguing the U.S. remains far ahead of China in the critical technology. The comments, made on CBS News' "60 Minutes," are in line with the Commerce secretary's stance that the Biden administration's restrictions on chip sales to China are working, despite an advanced made-in-China chip surfacing in a Huawei phone last year. The phone launched while Raimondo was on a visit to China. "I have their attention, clearly," she said, adding the U.S. would continue to pursue actions to protect U.S. national security and businesses. According to a senior Commerce Department official, Huawei's chipmaking partner SMIC "potentially" violated U.S. law by providing an advanced chip to the Chinese phone maker.

Persons: Gina Raimondo, Joe Biden, We've, Raimondo, Huawei's, SMIC Organizations: Semiconductors, America, White, Huawei Technologies, CBS, Commerce, Biden, Huawei, U.S ., Commerce Department Locations: WASHINGTON, DC, Washington , DC, U.S, China, United States, U.S . U.S

☆ U.S. solar energy company explains decision to set up a factory in the Philippines
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. solar energy company explains decision to set up a factory in the PhilippinesScott McHugo, founder and CEO of Sol-Go, discusses U.S. Secretary of Commerce Gina Raimondo's delegation to the Philippines, which his company is part of.

Persons: Philippines Scott McHugo, Commerce Gina Raimondo's Organizations: U.S, Sol, Commerce Locations: Philippines

☆ U.S. and China are working to make the business environment less volatile, Beijing says
▼ + stars: | 2024-01-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Aly Song | ReutersBEIJING — China and the U.S. are working toward creating a more stable and predictable environment for businesses, Chinese Commerce Minister Wang Wentao said Friday. U.S. and other foreign businesses in China have long complained of challenges to doing business in the Asian country, such as unequal treatment of foreign companies compared to local players. The move was widely seen as an improvement for foreign businesses, but no official policy has yet followed. When asked Friday for an update on data rules, Wang only said the "primary ministry is stepping up efforts to release them." When Raimondo visited China last year, she called for more action to improve predictability for U.S. businesses in China.

Persons: Aly Song, Wang Wentao, Gina Raimondo's, Wang, Raimondo, Biden Organizations: Chinese Communist Party, Reuters, Commerce, CNBC, Cyberspace Administration of China, CAC, of Commerce Locations: China, U.S, Yiwu, Zhejiang province, Reuters BEIJING, Washington, France

☆ Why we see a way forward for Nvidia in China — plus our take on 2 other stocks in the news
▼ + stars: | 2023-12-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Meanwhile, Jim Cramer's interview with an influential member of President Joe Biden's cabinet proved encouraging for Club holding Nvidia . It's been a two-session roller-coaster ride that illustrates the importance of staying disciplined and not chasing stocks while they're surging for non-fundamental reasons. Traders were trying to front-run the official announcement, pushing Linde stock up 4.53% Tuesday, to an all-time high of $426.72 per share. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Nvidia CEO Jen-Hsun Huang at the Consumer Elctronics Show (CES) in Las Vegas, USA, 04 January 2017.

Persons: Linde, Jim Cramer's, Joe Biden's, It's, Pfizer's, drugmaker Seagen, there's, Gina Raimondo, Jim, Biden, Raimondo, " Raimondo, Cigna, Humana's, —, Humana, Aetna's, Jim Cramer, Jen, Hsun Huang, Huang, Andrej Sokolow Organizations: Club, Nvidia, LIN, Linde, Nasdaq, Traders, . Commerce, U.S, Bank of America, Wall Street Journal, Humana, CNBC, Consumer, Audi, Getty Locations: China, U.S, Wall, Las Vegas, USA

(AP) — The Biden administration is designating 31 technology hubs touching 32 states and Puerto Rico to help spur innovation and create jobs in the industries that are concentrated in these areas. President Joe Biden is set to announce the hubs on Monday at the White House with Commerce Secretary Gina Raimondo. The tech hubs are the result of a process Raimondo's department launched in May to distribute a total of $500 million in grants to cities. The White House has sought to elevate that message and highlight Biden's related policies as the Democratic president undertakes his 2024 reelection bid. “These Tech Hubs will catalyze investment in technologies critical to economic growth, national security, and job creation, and will help communities across the country become centers of innovation critical to American competitiveness,” the White House said Monday in an emailed statement.

Persons: —, Biden, Joe Biden, Gina Raimondo, “, Raimondo, ”, Seattle — Organizations: White, Seattle, Regional Technology, Innovation, Democratic, “, Tech Locations: REHOBOTH BEACH, Del, Puerto Rico, — Austin , Texas, Boston ; New York, San Francisco, Oklahoma, Rhode Island , Massachusetts, Montana , Colorado , Illinois , Indiana , Wisconsin, Virginia , New Hampshire , Missouri , Kansas , Maryland , Alabama, Pennsylvania, Delaware , New Jersey , Minnesota , Louisiana , Idaho , Wyoming, South Carolina , Georgia, Florida , New York , Nevada , Missouri , Oregon , Vermont , Ohio, Maine, Washington

Some users and analysts who bought the Mate 60 Pro say it uses a Chinese-made chip and is capable of 5G speeds. We are working overtime urgently to manufacture more so that more people can buy our products," Yu said. [1/4]People check a Huawei Mate 60 smartphone displayed at a Huawei flagship store in Beijing, China September 25, 2023. Huawei updated its official website after the event to add prices for its Mate 60 Pro+, which will start from 8,999 yuan ($1,230), and the Mate 60 RS Ultimate Design version, which is priced from 12,999 yuan. One shopper in the Beijing store, 29-year-old engineer Zhang Nianrong, said he saw the Mate 60 Pro as "carrying significance far beyond its value" and planned to buy it.

Persons: Gina Raimondo's, Apple's, Yu Chengdong, Yu, Maniler, Nelson Mandela, Florence Lo, Bryan Ma, Meng Wanzhou's, Washington . Meng, Ren Zhengfei, Zhang Nianrong, Yelin Mo, Brenda Goh, Sophie Yu, Himani Sarkar Organizations: Huawei Technologies, Huawei, U.S . Commerce, Weibo, REUTERS, IDC, Thomson Locations: BEIJING, SHANGHAI, China, Hong Kong, South Africa, Beijing, Iran, U.S, Washington

☆ US Treasury launches US-China economic, financial working groups
▼ + stars: | 2023-09-22 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, Sept 22 (Reuters) - The U.S. Treasury Department on Friday said it was formally launching two new U.S.-China working groups on economic and financial issues aimed at providing a regular policy communications forum between the world's two largest economies. In a statement, the Treasury said the two groups would "meet on a regular cadence" and report to Yellen and Chinese Vice Premier He Lifeng. China's Ministry of Finance will be Treasury's counterpart for the Economic Working Group, while the People's Bank of China will be its counterpart for the Financial Working Group. China's Finance Ministry and central bank both issued statements confirming the establishment of the economic and financial working groups but gave few details beyond saying they were aimed at strengthening communication and collaboration on these issues. Establishment of the two working groups also follows Commerce Secretary Gina Raimondo's agreement with Chinese officials in August to establish a working group on U.S. export controls aimed at explaining U.S. policies.

Persons: Yellen, Gina Raimondo's, Donald Trump, David Lawder, Christina Fincher Organizations: U.S . Treasury Department, Treasury, China's Ministry, Finance, Economic, People's Bank of, Financial, China's Finance Ministry, State, Thomson Locations: China, China's, People's Bank of China, Beijing, U.S, Washington

☆ Yellen says U.S. 'soft landing' can weather strike, govt shutdown, student loan risks
▼ + stars: | 2023-09-19 | by ( David Lawder | ) www.reuters.com time to read: +5 min

U.S. Treasury Secretary Janet Yellen speaks during an interview in New York City, U.S., September 18, 2023. President Joe Biden's administration is working to encourage both sides to resolve the strike quickly, Yellen said. The U.S. Treasury market "continues to function pretty well" despite higher rates and some volatility, she said. But nothing that is really out of line with what you would expect given the volatility in the underlying market," Yellen added. CHINA "DE-RISKING"She said China's economic slowdown would have a limited impact on U.S. growth, echoing recent comments from Deputy Treasury Secretary Wally Adeyemo.

Persons: Janet Yellen, Shannon Stapleton, Yellen, Joe Biden's, Biden, Kevin McCarthy, Wally Adeyemo, Gina Raimondo's, David Lawder, Chizu Organizations: Treasury, REUTERS, . Treasury, Reuters, United Auto Workers, Federal Reserve, UAW, Detroit automakers, Republicans, U.S . Senate, U.S . Treasury, Thomson Locations: New York City, U.S, Detroit, United States, CHINA, China

☆ U.S. business optimism about China outlook falls to record low - survey
▼ + stars: | 2023-09-19 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

Even after the ending of COVID curbs, which weighed heavily on both revenues and sentiment in 2022, the percentage of surveyed U.S. firms optimistic about the five-year China business outlook fell to 52%, according to the annual survey published by American Chamber of Commerce (AmCham) in Shanghai. This was the lowest level of optimism reported since the AmCham Shanghai Annual China Business Report was first introduced in 1999. "Frankly, if there was one thing that surprised me about the survey this year it was that number," said AmCham Shanghai Chairman, Sean Stein. China has criticised U.S. efforts to block China's access to advanced technology and U.S. firms have expressed concern about fines, raids and other actions that make doing business in China risky. Last month, U.S. Commerce Secretary Gina Raimondo said during a visit to China that U.S. companies have complained to her that China has become "uninvestible".

Persons: Dado Ruvic, Sean Stein, Gina Raimondo, AmCham's Stein, Casey Hall, Alex Richardson Organizations: REUTERS, Rights, American Chamber of Commerce, Shanghai, U.S, Companies, . Commerce, Group, Thomson Locations: China, U.S, Shanghai, Southeast Asia, India, Mexico, Vietnam, Malaysia

The Fund will strongly urge Beijing to shift its growth model away from debt-fueled infrastructure investment and real estate, she said. "Our advice to China is use your policy space in a way that helps you shift your growth model towards more domestic consumption," Georgieva said. "We actually project that without structural reforms, medium term growth in China can fall below 4%," Georgieva said. ANEMIC GLOBAL GROWTHThe IMF is preparing to issue a new set of global growth forecasts ahead of IMF and World Bank annual meetings Oct. 9-15. With China generating about a third of global growth this year, its growth rate "matters to Asia, and it matters to the rest of the world," Georgieva said.

Persons: Yuri Gripas, Kristalina Georgieva, Georgieva, Gina Raimondo's, Andrea Shalal, David Lawder, Chris Reese, Tom Hogue Organizations: Monetary Fund, REUTERS, Rights, Reuters, IMF, World Bank, U.S . Commerce, Thomson Locations: Washington , U.S, China, Beijing, United States, Europe, Morocco, Asia

U.S. Commerce Secretary Gina Raimondo's trip to China last month had promised some economic and trade detente between the two superpowers now at loggerheads. And none of the 222 funds polled expected China economic growth to be any higher next year than this - mirroring a recent Reuters survey of domestic and overseas banks and investors. As these sorts of surveys go, there's an awful lot in there that could spell "peak gloom". Indeed, shorting China equities was deemed the second "most crowded trade" behind long exposure to supercharged Big Tech stocks. Even if the economy turns, political catalysts for a return to China may be slow in coming.

Persons: Aly, Gina Raimondo's, it's, Jamie Dimon, Jay Clayton, Jenny Johnson, Franklin Templeton, Willem Sels, Mike Dolan, Sharon Singleton Organizations: REUTERS, . Commerce, Bank of, Big Tech, Reuters, Reuters Graphics Reuters, JPMorgan, Investments, The Ontario Teachers, Caisse, Franklin, HSBC Private Banking, Thomson Locations: Shanghai, Shenzhen, China, loggerheads, Wall, Asia, Silicon Valley, Hong Kong, Temasek, Bridgewater, Blackrock, India, Indonesia, Washington, United States

☆ Apple lost over $200 billion in market value in two days. Here's where Jim Cramer stands on the stock
▼ + stars: | 2023-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Jim Cramer said Thursday he stands by the Club's "own it, don't trade it" designation on Apple, which was on a two-session losing streak that wiped out more than $200 billion in market value in the stock. "If I really felt like a disaster was coming, I would suspend" our mantra of "own it, don't trade it" on Apple stock, Jim Cramer said during the Club's Morning Meeting on Thursday. Apple is also extending efforts into emerging economies such as India, which like China has roughly 1.4 billion people. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, shouldn't, Jim, Gina Raimondo, isn't, Apple, Wamsi Mohan, Daniel Ives, Ives, Jim Cramer's Organizations: Apple, Big Tech, Street Journal, Huawei, U.S . Commerce, Bloomberg, Bank of America, Wedbush Securities, U.S, The, CNBC, S3studio, Getty Locations: China, America, Beijing, Americas, Europe, India, Mong Kok District, Hong Kong

People walk past a Huawei store with advertisements for the Mate 60 series smartphones, at a shopping mall in Beijing, China August 30, 2023. That's another really big advance they've made," Dan Hutcheson, an analyst with TechInsights, told Reuters. "The significance is that it shows that China has been able to stay 2-2.5 nodes behind the world's best (chip) companies. "China's been buying tools like crazy so they probably have the capability to do this and yield ok with it." Huawei and SMIC did not immediately respond to requests for comment.

Persons: Yelin, they've, Dan Hutcheson, TechInsights, chipmaker SMIC, Hutcheson, Gina Raimondo's, it's, China's, Brenda Goh, Joyce Lee, David Kirton, Miyoung Kim, David Evans Organizations: Huawei, REUTERS, Rights, Huawei Technologies, Reuters, The, HK, U.S . Commerce, SMIC, Apple, South Korea's SK Hynix Inc, SK Hynix, U.S, Thomson Locations: Beijing, China, The Ottawa, Huawei's, U.S, Seoul, Shenzhen

People walk past a Huawei store with advertisements for the Mate 60 series smartphones, at a shopping mall in Beijing, China August 30, 2023. REUTERS/Yelin Mo/File Photo Acquire Licensing RightsSHANGHAI, Sept 7 (Reuters) - Huawei Technologies' new high-end smartphone contains more China-made chip components than previous models in a sign of Beijing's advances in the semiconductor sphere, according to research firm TechInsights, which is taking the device apart. That's another really big advance they've made," Dan Hutcheson, an analyst with TechInsights, told Reuters. "The significance is that it shows that China has been able to stay 2-2.5 nodes behind the world's best (chip) companies. "China's been buying tools like crazy so they probably have the capability to do this and yield ok with it."

The difficulty of this achievement also shows the resilience of the country’s chip technological ability," TechInsights analyst Dan Hutcheson said. EUV refers to extreme ultraviolet lithography and is used to make 7 nm or more advanced chips. LIMITED ACHIEVEMENTThe most advanced chip SMIC had previously been known for making was 14nm, as it was barred by Washington in late 2020 from obtaining an EUV machine from Dutch firm ASML (ASML.AS). But TechInsights last year said it believed SMIC had managed to produce 7 nm chips by tweaking simpler DUV machines it could still purchase freely from ASML. Jefferies analysts reckon Huawei is preparing to ship ten million units of the Mate 60 Pro, though it may struggle to support that quantity with China-made 7 nm chips.

Persons: Gina Raimondo's, chipmaker SMIC, Dan Hutcheson, EUV, Jefferies, TechInsights, SMIC, Tilly Zhang, Dragonomics, Zhang, Doug Fuller, David Kirton, Max Cherney, Brenda Goh, Miyoung Kim, Nick Zieminski Organizations: FRANCISCO, Huawei Technologies, U.S, Huawei, U.S . Commerce, Kirin, HK, U.S . Commerce Department's, of Industry, Security, China, U.S . Department of Commerce, China's State Council, Reuters, Copenhagen Business School, Thomson Locations: SHENZHEN, China, California, Washington, Ottawa, U.S, China's, Netherlands

☆ U.S. Commerce Secretary says she 'didn't pull any punches' during recent visit to China
▼ + stars: | 2023-09-03 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

U.S. Commerce Secretary Gina Raimondo arrives for a meeting with her Chinese counterpart Wang Wentao, at the Ministry of Commerce in Beijing, Monday, Aug. 28, 2023. U.S. Commerce Secretary Gina Raimondo met with Chinese officials in a high-stakes visit to Beijing and Shanghai this week, and she said Sunday that the trip helped establish open lines of communication between the two nations. Raimondo is the fourth high-level U.S. official to visit China this summer, but she is the first U.S. Commerce secretary to travel to the country in five years — a period where the bilateral relationship has grown increasingly tense. The Commerce secretary's trip to China followed recent visits from U.S. special envoy for climate John Kerry, U.S. Treasury Secretary Janet Yellen and U.S. Secretary of State Antony Blinken. Raimondo said Sunday that the export controls are about national security, not about gaining an economic advantage.

Persons: Gina Raimondo, Wang Wentao, Raimondo, NBC's, John Kerry, Janet Yellen, Antony Blinken Organizations: Commerce, Ministry of Commerce, . Commerce, U.S . Commerce, China, Press, U.S, Treasury, U.S . Department of Commerce's, of Industry, Security, Sunday Locations: Beijing, Shanghai, China, U.S

☆ Rep. Raja Krishnamoorthi: We're continuing the investigation into Chinese companies
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Raja Krishnamoorthi: We're continuing the investigation into Chinese companiesRep. Raja Krishnamoorthi (D-Ill.) joins 'Power Lunch' to discuss U.S.-China relations and Secretary Raimondo's visit to the country.

Persons: Raja Krishnamoorthi, We're, Raimondo's Organizations: Rep, U.S Locations: China

☆ We will probably get a government shutdown, but markets will look past it: Stifel's Brian Gardner
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will probably get a government shutdown, but markets will look past it: Stifel's Brian GardnerBrian Gardner, Stifel Financial chief Washington policy strategist, joins 'Squawk Box' to discuss the return of Congress after Labor Day, whether the U.S. can avoid a government shutdown, the impact on markets and investors, Commerce Secretary Gina Raimondo's trip to China, and more.

Persons: Brian Gardner Brian Gardner, Gina Raimondo's Organizations: Stifel Financial, Labor Locations: Washington, U.S, China

☆ Commerce Secretary Raimondo: China needs a predictable regulatory environment
▼ + stars: | 2023-08-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommerce Secretary Raimondo: China needs a predictable regulatory environmentGina Raimondo, U.S. Commerce Secretary, joins 'Squawk on the Street' to discuss the expected results from Secretary Raimondo's visit to China, what actions Raimondo hopes we'll see from Beijing, and more.

Persons: Raimondo, Gina Raimondo, Raimondo's, we'll Organizations: Email, . Commerce Locations: China, Beijing

☆ China says drop in trade with the U.S. is 'a direct consequence of U.S. moves'
▼ + stars: | 2023-08-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Jason Lee | ReutersBEIJING — China's ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries. "This is a direct consequence of U.S. moves to levy Section 301 tariffs on Chinese imports, abuse unilateral sanctions and further tighten up export controls," he said. China's trade partnersThe U.S. is China's largest trading partner on a single country basis. Following her meetings with Chinese government officials, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets. Xie claimed that average U.S. tariffs on Chinese products were 19%, while the Chinese tariffs on U.S. goods averaged 7.3%.

Persons: Jason Lee, Xie Feng, Xie, Gina Raimondo's, Raimondo, Trump, Joe Biden, Janet Yellen Organizations: Reuters, Reuters BEIJING —, Forbes, U.S, China Business Forum, European Union and Association of Southeast, . Commerce Secretary, . Commerce, The Locations: Washington, Beijing, Taiwan, South China, Reuters BEIJING, U.S, China, New York, U.S . China, United States, Nations, France, Japan, The U.S

Jens Eskelund, President of the European Union Chamber of Commerce in China, attends an interview with Reuters in Beijing, China August 21, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Aug 30 (Reuters) - The European Union Chamber of Commerce in China said on Wednesday that it would not use the term "uninvestable" to describe China, in response to a comment from the United States. U.S. Commerce Secretary Gina Raimondo said late Tuesday American firms had increasingly used the term to describe China, prompting Beijing to defend its business practices and approach to foreign investment. "‘Uninvestable’ is not a term we would use to describe China," Jens Eskelund, president of the EU chamber, said in an emailed response to questions from Reuters on Raimondo's remarks. Reporting by Laurie Chen; Writing by John Geddie; Editing by Muralikumar Anantharaman, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Jens Eskelund, Florence, Gina Raimondo, Raimondo, Eskelund, Laurie Chen, John Geddie, Muralikumar Anantharaman, Robert Birsel Organizations: European Union Chamber of Commerce, Reuters, REUTERS, Rights, U.S . Commerce, EU, Thomson Locations: China, Beijing, Rights BEIJING, United States, Europe

☆ Here's what the U.S. hopes China will do after Raimondo's trip
▼ + stars: | 2023-08-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — U.S. Commerce Secretary Gina Raimondo has left Beijing with a few deliverables: plans for formal discussions on export controls and tourism. In her two days in Beijing, Raimondo met with Premier Li Qiang, Vice Premier He Lifeng, Commerce Minister Wang Wentao and Minister of Culture and Tourism Hu Heping. Here's what they agreed to do, according to public announcements:Establish a commercial issues working group between the commerce departments — meet twice a year at the vice minister level, and once at the minister level. Launch export control enforcement information exchange — first in-person meeting held at the assistant secretary level at the Ministry of Commerce in Beijing on Tuesday. He noted that in his first 15 months in China as ambassador, there were no U.S. discussions at a senior level with Chinese officials.

Persons: Gina Raimondo, Raimondo, Li Qiang, Wang Wentao, Hu, Wang, China Nicholas Burns Organizations: Commerce, of, People, BEIJING — U.S . Commerce, Culture, —, Ministry of Commerce, U.S . Tourism Leadership, U.S Locations: Beijing, BEIJING — U.S, Shanghai, U.S, China

☆ Chinese officials have yet to grasp the enormity of recent changes and its impact, says Jeff Moon
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese officials have yet to grasp the enormity of recent changes and its impact, says Jeff MoonJeff Moon, China Moon Strategies founder and former assistant U.S. trade representative for China, joins 'Squawk on the Street' to discuss Commerce Secretary Gina Raimondo's visit to China, whether the Secretary's visit was helpful to spur investment in the country, and more.

Persons: Jeff Moon Jeff Moon, Gina Raimondo's Organizations: China Moon Locations: China

☆ Xi Jinping doesn't like private sector and foreign companies, says AEI's Derek Scissors
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXi Jinping doesn't like private sector and foreign companies, says AEI's Derek ScissorsDerek Scissors, Asia economist at the American Enterprise Institute, joins 'The Exchange' to discuss U.S. Secretary Raimondo's visit to China, the impact of upcoming Commerce Department decisions on semiconductor export in China, and the possibility of license exemptions for export controls.

Persons: Derek, Raimondo's Organizations: American Enterprise Institute, U.S Locations: Asia, China

Andy Wong | Afp | Getty ImagesBEIJING — U.S. Commerce Secretary Gina Raimondo has called on China to improve the predictability of the business environment for American companies in the country. "There's an appetite certainly for U.S. business to continue to do business in China," she said, adding however that "It's an unlevel playing field for U.S. business. Foreign companies in China have long complained about market access challenges including forced tech transfers and preferential treatment for local companies, especially state-owned enterprises. Gina Raimondo U.S. Commerce SecretaryThe updated law is of "great concern" to U.S. companies, Raimondo said. Foreign business organizations have noted improvements over the years in China's protection of intellectual property.

Persons: Gina Raimondo, China Nick Burns, Premier Li Qiang, Andy Wong, Raimondo, CNBC's Eunice Yoon, Biden, Stephen Olson Hinrich, Stephen Olson Organizations: Premier, of, People, Afp, Getty, U.S . Commerce, U.S, Trump, U.S . Department of Commerce's, of Industry, Security, Commerce, CNBC, Foundation, Biden, Boeing, Bloomberg Locations: China, Beijing, BEIJING, U.S, Shanghai, America, The U.S

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