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☆ China is a stormy place to do business right now after shock exec arrests and Foxconn probes
▼ + stars: | 2023-10-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

That follows shock arrests and allegations of bribery at the Shanghai offices of US agency GroupM. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementChilling effectThe probes and arrests are likely to further chill foreign business activity in China. Outwardly, China's leaders have emphasized the country is open to foreign investment. "Both Chinese investment overseas and foreign investment in China have boosted friendship, cooperation, confidence, and hope," said Chinese Premier Xi Jinping earlier this month at a summit on the country's Belt and Road infrastructure initiative.

Persons: —, Foxconn, Bain, Mintz, Steve Tsang, it's, Xi, Dan Harris, Terry Gou, Gou, Tim Cook, Cook, Wang Wentao, Apple, GroupM Organizations: Apple, Foxconn, GroupM, Service, WPP, Financial Times, FBI, SOAS China Institute, New York Times, Chinese Communist Party, Huawei Locations: China, Shanghai, Taiwan, Beijing, New York, Seattle

Updated Oct. 20, 2023 12:00 am ETiPhone 15 sales have been weak in China. Photo: Cfoto/Zuma PressApple Chief Executive Tim Cook is crisscrossing China, one of the company’s largest markets, where challenges are mounting amid weak iPhone 15 sales and heightened government scrutiny. The whirlwind trip, which wasn’t announced ahead of time, has involved drop-ins at Apple stores, a visit to a key supplier and meetings with senior officials, including Chinese Commerce Minister Wang Wentao .

Persons: Tim Cook, wasn’t, Wang Wentao Organizations: Zuma Press Apple, Apple, Chinese Commerce Locations: China

☆ Jon Stewart's show on Apple TV+ is reportedly coming to an end amid disagreements around China and AI
▼ + stars: | 2023-10-20 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Jon Stewart's Apple TV+ show "The Problem" has ended over editorial disputes, NYT reported. Sources told the Times that Apple execs were concerned over show topics regarding China and AI. AdvertisementAdvertisementJon Stewart's show on Apple TV+ is reportedly hitting the chopping block over creative differences, The New York Times first reported. Apple told Stewart he needed to be "aligned" with the company on the topics he chooses to discuss, but Stewart wanted full creative autonomy over his series, sources told The Hollywood Reporter. In turn, Stewart and Apple reportedly both agreed to go their separate ways.

Persons: Jon Stewart's, Apple execs, —, Stewart, Jon Stewart, Apple, Rich Klubeck, didn't, Stewart —, Stephen Colbert's, Tim Cook, Cook, BuzzFeed, Wang Wentao Organizations: Times, Apple, Service, New York Times, Hollywood, Research, CNBC Locations: China, Wuhan, Beijing, Chengdu .

☆ Tim Cook's latest visit to China is a sign that the iPhone is at risk of becoming the 2nd-best option for many people
▼ + stars: | 2023-10-20 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

The Apple CEO made his second known trip to China this year as iPhone sales struggle. The visit is a sign that Apple desperately needs to keep China on its side. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWhen Tim Cook visited China in March this year, he was there to heap praise on the country for its history of innovation. Several months on, the Apple CEO is back on the charm offensive.

Persons: Tim Cook, —, Cook, Wang Wentao, it's, Elon Musk, Luxshare Organizations: Apple, Service, Bloomberg, Research, Huawei, Apple's Locations: China, Beijing, Chengdu

☆ China's commerce minister meets with Apple's Tim Cook in Beijing
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

Apple CEO Tim Cook gestures at Apple's annual Worldwide Developers Conference at the company's headquarters in Cupertino, California, U.S. June 5, 2023. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsBEIJING, Oct 18 (Reuters) - China's commerce minister Wang Wentao met with Apple's Chief Executive Tim Cook in Beijing on Wednesday, according to a statement by the Chinese commerce ministry. They discussed Apple's development in China and also the Sino-US trade relationship, the statement said. China will firmly promote high-level opening up and continue to expand market access, the ministry statement quoted Wang as saying, adding that China welcomes multinational companies including Apple to achieve win-win development. Reporting by Beijing newsroom; Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Cook, Loren Elliott, Wang Wentao, Wang, Alexandra Hudson Organizations: Apple, Developers, REUTERS, Rights, Apple's, Beijing, Alexandra Hudson Our, Thomson Locations: Cupertino , California, U.S, Rights BEIJING, Beijing, China

☆ Putin visits 'dear friend' Xi in show of no-limits partnership
▼ + stars: | 2023-10-17 | by ( Ryan Woo | ) www.reuters.com time to read: +4 min

[1/3] Russia's President Vladimir Putin arrives at Beijing Capital International Airport to attend the Third Belt and Road Forum in Beijing, China, October 17, 2023. Xi last saw his "dear friend" in Moscow just days after the warrant was issued. At the time, Xi invited Putin to attend the third Belt and Road forum in Beijing, an international cooperation forum championed by the Chinese leader. As the forum's chief guest, Putin will speak after Xi on Wednesday and will meet with the Chinese president for bilateral talks later that day. It would be Putin's third attendance of the Belt and Road Forum, which runs through Wednesday.

Persons: Vladimir Putin, Parker, Xi Jinping, Putin, Wang Wentao, Xi, Ryan Woo, Lidia Kelly, Christopher Cushing, Simon Cameron, Moore Organizations: Beijing Capital International Airport, Forum, REUTERS Acquire, Rights, Court, ICC, Reuters, Chinese Commerce, Kremlin, Beijing, Olympics, Rosneft, Gazprom, Thomson Locations: Beijing, China, Rights BEIJING, Ukraine, Hague, Soviet Union, Kyrgyzstan, Soviet, Moscow, Vietnam, Thailand, Mongolia, Laos, Russia, Asia, Africa, Europe, Putin's, Melbourne

☆ Russia-China energy cooperation in focus as Putin visits Xi
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +4 min

It insists the ties do not flout international norms, and China has the prerogative to collaborate with whichever country it chooses. According to China's customs data, the growth of China's exports and imports with Russia on a year-on-year basis quickened in September from August. China is Russia's second-largest buyer of Russian oil after India. Russia's main gas export route is a 4,000-km (2,500-mile) pipeline Power of Siberia that links East Siberian fields to northeast China. Russia aims to build a second gas pipeline to China, Power of Siberia 2, with capacity for 50 bcm a year to run via Mongolia.

Persons: Maxim Shemetov, Wang Wentao, Vladimir Putin's, Russia's Novatek, Vladimir Soldatkin, Guy Faulconbridge, Alison Williams Organizations: REUTERS, Rights, Commerce, Vortexa, Russia's, Reuters, European, VEB, Supplies, CNPC, Thomson Locations: Siberia, Svobodny, Amur, Russia, China, United States, Beijing, Moscow, Ukraine, Russian, India, Kpler, Kozmino, Baltic, Brazil, Urals, Oman, European Union, That's, Europe, Power, Mongolia, Sakhalin, Qatar

☆ China's export, import growth with Russia quickens in September
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Stringer/File photo Acquire Licensing RightsBEIJING, Oct 13 (Reuters) - The growth of China's exports and imports with Russia on a year-on-year basis quickened in September from August, China's customs data showed on Friday, as it urged deeper trade ties with its neighbour despite the disapproval of the West. Chinese shipments to Russia rose 21% to $9.6 billion in September from a year earlier, accelerating from 16% growth in August, Reuters calculations based on customs data showed. Imports from Russia rose 8% to $11.53 billion last month after rising 3% in August. Under Western sanctions, Russia has turned to China for economic support, benefiting from Chinese demand for oil, gas and grain. China also cleared the way for imports of pork from regions of Russia without African swine fever, Chinese customs said recently.

Persons: Stringer, Wang Wentao, Vladimir Putin, Ryan Woo, Ellen Zhang, Robert Birsel Organizations: REUTERS, Rights, Imports, Chinese, Administration of Customs, Commerce, Beijing, Thomson Locations: Qingdao, Shandong province, China, Rights BEIJING, Russia, Ukraine, Russian, China's

☆ U.S. leans on China to use influence with Iran to cool Middle East tensions
▼ + stars: | 2023-10-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — U.S. Senate Majority Leader Chuck Schumer said Monday the congressional delegation to China asked Beijing to use its influence with Iran to prevent the Israel-Hamas conflict from spreading. "A bunch of us made the request that China use its influence on Iran to not allow a conflagration to spread," Schumer told reporters in a briefing. "They have influence with Iran in many different ways," he said. "And we asked them to do everything they could to not have Iran spread this conflagration through themselves and through Hezbollah." "We oppose moves that escalate the conflict and destabilize the region and hope fighting will stop and peace will return soon," Mao said.

Persons: Chuck Schumer, Wang Wentao, Schumer, Xi Jinping, We're, Mao Ning, Mao Organizations: Chinese Commerce, Ministry of Commerce, Republican, Democratic Locations: Beijing, BEIJING — U.S, China, Iran, Israel, U.S

☆ WTO needs progress on 'non-market' practices, dispute settlement -USTR's Tai
▼ + stars: | 2023-09-22 | by ( David Lawder | ) www.reuters.com time to read: +4 min

She said that in recent years, the WTO has failed to address non-market practices by some countries, seeking to "dominate key industrial sectors, promote national champions and discriminate foreign competitors, massively subsidize key sectors and manipulate cost structures." "And we certainly need to reform our dispute settlement system." "The United States wants a WTO where dispute settlement is fair and effective and supports a healthy balance of sovereignty, democracy, and economic integration," Tai said. Where we have better rules and tools to tackle non-market policies and practices and to confront the climate crisis and other pressing issues." Tai has long pushed back against China's "non-market" economic and trade practices from China, raising fresh objections to its state-led approach during a late May meeting with Chinese Commerce Minister Wang Wentao in Detroit.

Persons: Katherine Tai, Biden's, Jonathan Ernst, Tai, Ngozi, Iweala, Wang Wentao, David Lawder, Grant McCool Organizations: Trade, REUTERS, Rights, . Trade, World Trade Organization, WTO, Center for Strategic, China's, Chinese Commerce, Thomson Locations: Washington , U.S, U.S, WTO, Washington, China, Abu Dhabi, United States, Detroit

☆ China urges deeper trade ties with Russia despite Western rebuke
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +3 min

Chinese President Xi Jinping and Russian President Vladimir Putin attend a presentation of a Haval F7 SUV produced at the Haval car plant located in Russian Tula region, at the Kremlin in Moscow, Russia, June 5, 2019. It insists the ties do not flout international norms, and China has the prerogative to collaborate with whichever country it chooses. The Russian Far East bordering China as well as North Korea has gained new strategic significance as a zone of cross-border trade and commerce. Chinese state media also says there is a growing "necessity" for China and Russia to step up their grain trading amid continued tight global supplies. The construction of a grain corridor linking Russia to Heilongjiang, China's northeastern bread basket, will help bolster China's food security.

Persons: Xi Jinping, Vladimir Putin, Maxim Shipenkov, Wang Yi, Vladimir Putin's, Wang Wentao, Tongjiang, Ryan Woo, Alex Richardson, Timothy Gardner, Michael Perry Organizations: Kremlin, Reuters, Rights, West, Commerce, Chemical Co, Yuan Industrial, Thomson Locations: Russian Tula, Moscow, Russia, Rights BEIJING, China, Ukraine, Russian, Beijing, China's, North Korea, United, Yuan, Nizhneleninskoye, Europe, Japan, Heilongjiang

☆ 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

☆ China says the best way to 'de-risk' is to restore stability with the U.S.
▼ + stars: | 2023-09-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mandel Ngan | Afp | Getty ImagesBEIJING — China's Ministry of Commerce said Thursday that restoring stability in U.S.-China trade relations is the best way to "de-risk" — a twist to a term that's become popular in international politics. That also "allows bilateral economic trade relations to better play the role of 'ballast,' stabilizing business expectations and increasing business confidence for carrying out trade and investment." In November last year, U.S. President Joe Biden and Chinese President Xi Jinping met in Bali, Indonesia, for their first in-person meeting since Biden took office. Their meeting kicked off formal plans for U.S. Secretary of State Antony Blinken and other U.S. senior officials to visit China this year. Following her meetings, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets.

Persons: Joe Biden, Xi Jinping, Roosevelt, Mandel Ngan, Shu Jueting, Biden, Antony Blinken, Scott Kennedy, International Studies Shu, Wang Wentao, Gina Raimondo, Shu, Raimondo, Wang, CNBC's Eunice Yoon Organizations: White, Afp, Getty, BEIJING, China's Ministry of Commerce, Ministry of Commerce, CNBC, U.S, Scott, Scott Kennedy Center for Strategic, International Studies, Commerce, Center for Strategic, . Commerce Locations: Washington ,, China, Bali, U.S, Bali , Indonesia, Beijing, Shanghai, America

President Biden had bet that high-level dialogue could help manage an escalating rivalry over trade, technology and the status of Taiwan. After logging all those miles, the question now is whether China will reciprocate by sending senior Chinese ministers to Washington. The United States has publicly invited China’s foreign minister, Wang Yi, but he has yet to accept. The last senior Chinese official to travel to Washington was China’s commerce minister, Wang Wentao, who visited in late May. China has much to gain from dispatching officials to the United States.

Persons: Gina Raimondo, Biden, Antony J, Blinken, Janet L, John Kerry, Wang Yi, Wang Wentao, China’s, Xi Jinping Organizations: Taiwan, United Locations: China, Beijing, Washington, United States, San Francisco

☆ 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

☆ US Commerce Secretary Gina Raimondo urges American businesses to keep investing in China (Analysis)
▼ + stars: | 2023-08-30 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —US Commerce Secretary Gina Raimondo urged American businesses to keep investing in China on Wednesday, even after saying some US firms had called the world’s second biggest economy “uninvestable.”Speaking at an American Chamber of Commerce event in Shanghai, the secretary encouraged companies to continue expanding in the country. “The message is to continue to do what you’re doing,” Raimondo told executives. Eric Zheng, president of AmCham Shanghai, told CNN after Raimondo’s appearance that he had not been hearing the term “uninvestable” from businesses on the ground. “In order to be globally competitive, they have to be in this market despite all the challenges.”Warm wordsRaimondo is the first US commerce secretary to visit China in five years. Andy Wong/APThe issue highlights the tightrope the commerce secretary is walking.

Persons: Gina Raimondo, ” Raimondo, Raimondo, Aly Song, ”, Wang Wenbin, Li Qiang, Antony Blinken, Janet Yellen, John Kerry, Eric Zheng, Andy Wong, Wang Wentao, Lifeng, Yellen, Foreign busineses, Chen Jining, Nazak Nikakhtar, Trump, Zheng, “, —, Jadyn Sham, Alex Stambaugh Organizations: Hong Kong CNN — US, American, of, Reuters, Shanghai, Biden, CNN, Covid, US Commerce Department, US Department of Commerce, Foreign, Department, Department of Commerce Locations: Hong Kong, China, Shanghai, Beijing, United States, decouple, “

☆ In China, Raimondo says US will prioritise national security, does not seek decoupling
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - The United States will put national security concerns first but does not seek to decouple from China, Commerce Secretary Gina Raimondo told China's Vice Premier He Lifeng at a meeting on Tuesday. "While we will never compromise in protecting our national security, I want to be clear that we will never seek to decouple or hold China's economy back," Raimondo said during opening remarks in Beijing's Great Hall of the People. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Earlier on Tuesday, Raimondo and Tourism Minister Hu Hepin agreed to hold the 14th China-U.S. Tourism Leadership Summit in China in the first half of 2024. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, Biden, " Raimondo, Xi Jinping, Liu, Raimondo, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, United States, decouple, Beijing's, U.S, Seattle, Shanghai, Washington

☆ US commerce chief meets Chinese premier in Beijing
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/3] U.S. Commerce Secretary Gina Raimondo and Chinese Vice Premier He Lifeng head to their seats for a meeting at the Great Hall of the People in Beijing, China, Tuesday, August, 29, 2023. Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - U.S. Commerce Secretary Gina Raimondo met China's Premier Li Qiang in Beijing on Tuesday, her second full day of talks with top Chinese leaders on balancing business ties and national security concerns. Earlier on Tuesday, Raimondo told China's economy tsar and her direct counterpart, He Lifeng, that the U.S. does not seek to decouple from its geopolitical rival. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, China's, Li Qiang, Raimondo, Biden, Xi Jinping, Liu, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, U.S, Seattle, United States, Shanghai, Washington

☆ Commerce secretary says US firms complain China is 'uninvestable'
▼ + stars: | 2023-08-29 | by ( ) 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 said U.S. companies have complained to her that China has become "uninvestable," pointing to fines, raids and other actions against firms that have made it too risky to do business in the world's second-largest economy. The comments, made to reporters onboard a train as her delegation of U.S. officials headed from Beijing to Shanghai, provided a bleak picture of how U.S. firms view China and were the bluntest Raimondo has made on her trip. "Increasingly I hear from American business that China is uninvestable because it's become too risky," she said. "So businesses look for other opportunities, they look for other countries, they look for other places to go."

Persons: Gina Raimondo, Wang Wentao, Raimondo, it's, Premier Li Qiang, Biden, Li Organizations: Commerce, Ministry of Commerce, . Commerce, U.S, chipmaker Micron Technology, Beijing, Premier, of Locations: Beijing, China, Shanghai, United States

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday. According to preliminary data, the S&P 500 (.SPX) gained 27.49 points, or 0.62%, to end at 4,433.20 points, while the Nasdaq Composite (.IXIC) gained 114.49 points, or 0.84%, to 13,705.13. Micron's and Intel's shares gained for much of the session. Horizon's shares rose.

Persons: Brendan McDermid, Goldman Sachs, Jerome Powell, Powell didn't, Ross Mayfield, Gina Raimondo, Wang Wentao, Shristi Achar, Noel Randewich, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Investment, Baird, Nvidia, Creative Planning, Nasdaq, Dow Jones, JD.com, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: New York City, U.S, China, Bengaluru, Oakland, Calif

☆ US raises concerns by Micron, Intel with China
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/3] U.S. Commerce Secretary Gina Raimondo delivers her speech at a reception with U.S. Industry and Chinese Government Officials hosted by U.S. Ambassador to China Nick Burns, in Beijing, China, August 28, 2023. Raimondo wants to address concerns from U.S. businesses that are having difficulties operating in China. Raimondo told reporters that she had discussed concerns over China's effective ban on purchases of Micron memory chips with her Chinese counterpart. Secretary Raimondo must stand up to our greatest adversary."

Persons: Gina Raimondo, China Nick Burns, Andy Wong, Wang Wentao, Raimondo, Biden, Raimondo's, Janet Yellen, Antony Blinken, Joe Biden, Marsha Blackburn, Export Enforcement Matthew Axelrod, We're, David Shepardson, Susan Heavey, Chris Sanders, Mike Harrison, Matthew Lewis Organizations: . Commerce, . Industry, Government, U.S, REUTERS Acquire, Rights, Intel, Micron Technology, Chinese Commerce, Commerce Department, Micron, Reuters, Republican, U.S . Commerce Department, Export Enforcement, Ministry of Commerce, Commerce, United, Thomson Locations: China, Beijing, Rights BEIJING, New York, Washington, Republican China, U.S, United States

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Horizon's shares rose 5.5%. Advancing issues outnumbered decliners for a 3.82-to-1 ratio on the NYSE and a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 101 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Roosevelt Bowman, Gina Raimondo, Wang Wentao, Goldman Sachs, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bernstein Private Wealth Management, Traders, Fed, Nvidia, U.S, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, U.S . Federal Trade Commission, Horizon Therapeutics, Creative Planning, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ US and China agree to export control information dialogue
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The first in-person meeting of the export control information exchange will be held at the assistant secretary level at the Ministry of Commerce in Beijing on Tuesday, Raimondo said. "The United States is committed to be transparent about our export control enforcement strategy," she said. Some Republicans in Congress had urged Raimondo earlier this month not to open a formal working group on export control issues. The working group will meet twice annually at the vice minister level, with the U.S. hosting the first meeting in early 2024. The United States and China also agree to convene subject matter experts from both sides for technical discussions "regarding strengthening the protection of trade secrets and confidential business information," Raimondo said.

Persons: Gina Raimondo, Wang Wentao, Andy Wong, Raimondo, Wang, David Shepardson, Andrew Cawthorne, Mike Harrison Organizations: Commerce, Ministry of Commerce, REUTERS Acquire, Rights, U.S . Commerce Department, . Commerce, U.S, Thomson Locations: Beijing, Rights BEIJING, United States, China, U.S

The United States and China on Monday agreed to hold regular conversations about commercial issues and restrictions on access to advanced technology, the latest step this summer toward reducing tensions between the world’s two largest economies. The announcement came during a visit to Beijing by Gina Raimondo, the U.S. commerce secretary, who is meeting with senior Chinese officials in Beijing and Shanghai this week. The agreement to hold regular discussions is the latest move toward rebuilding frayed links between the two countries, a process that had already begun during three trips in the past 10 weeks by senior American officials: Secretary of State Antony J. Blinken, Treasury Secretary Janet L. Yellen and John Kerry, the president’s climate envoy. “I think it’s a very good sign that we agreed to concrete dialogue, and I would say, more than just kind of nebulous commitments to continue to talk, this is an official channel,” Ms. Raimondo said in an interview after four hours of negotiations with China’s commerce minister, Wang Wentao.

Persons: Gina Raimondo, Antony J, Blinken, Janet L, Yellen, John Kerry, “, Ms, Raimondo, Wang Wentao Locations: States, China, Beijing, U.S, Shanghai

☆ US Commerce chief raised Micron, Intel with Chinese officials
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/2] A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBEIJING, Aug 28 (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Monday that she raised concerns about a number of U.S. business issues including Intel (INTC.O) and Micron (MU.O) with Chinese Commerce Minister Wang Wentao. Raimondo in May said the United States "won't tolerate" China's effective ban on purchases of Micron Technology (MU.O) memory chips and is working closely with allies to address such "economic coercion." Raimondo announced earlier on Monday that China had agreed to create a new formal working group on commercial issues with the United States. The new commercial issues working group is a consultation mechanism involving U.S. and Chinese government officials and private sector representatives "to seek solutions on trade and investment issues and to advance U.S. commercial interests in China."

Persons: Dado Ruvic, Gina Raimondo, Wang Wentao, Raimondo, Wang, May, David Shepardson, Jason Neely, Mark Potter Organizations: REUTERS, Rights, . Commerce, Intel, Micron, Chinese Commerce, Micron Technology, Tower Semiconductor, China's, Administration, Market, Thomson Locations: Rights BEIJING, China, United States

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