US Commerce Chief Beijing Meeting: On Tuesday, US Secretary of Commerce Gina Raimondo met with China’s Vice Premier He Lifeng for a crucial discussion. They covered key themes and this was her second day in Beijing, where she had been bargaining for days. Improve existing contact networks and commercial ties are the major goals. The purpose is to strengthen commercial relationships.
Raimondo was the latest Biden administration official to visit Beijing to improve commercial and military relations. She helped folks talk deeper. Tensions between the world’s two largest economies are straining economic ties. This makes this project crucial.
Raimondo met with China’s Tourism Minister Hu Hepin on Tuesday. After the discussion, the two sides decided to hold the 14th China-US Tourism Leadership Summit in China in the first half of 2024. The Department of Commerce said this step will make tourism ventures between the two countries easier.
The summit was in Seattle in 2019. The meeting has been conducted annually in China and the US. Last meeting in 2019. Mr. Raimondo will promote travel and tourism and how they can benefit each other during this visit.
This month, China and the US reached a pact to allow 50% more planes to fly between them. This number is smaller than before the epidemic, but still tiny.
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Raimondo predicts that if Chinese visitors visit the US at the same rate as in 2019, the economy will add $30 billion and create 50,000 jobs.
The day begins with a visit to Shanghai Disneyland, a theme park created by Walt Disney and the Chinese government-owned Shendi Group. Shanghai Disneyland was created from this bond. She wants to create a new formal working group to address business issues between the US and Chinese capitals. This shows how hard it is for American enterprises in China.
Tuesday was the first meeting of the working group to discuss export regulations. The organization was created for information sharing. The debate, presented by Assistant Secretary of State for Export Enforcement Matthew Axelrod, aims to assist people understand US national security policy without compromising sensitive areas.
The Chinese ambassador to the US, Xie Feng, applauded this effort and said Wang Wentao, China’s Commerce Minister, and Raimondo, the US Secretary, had a wise, open, and productive conversation. Raimondo and Wang discussed US industry challenges for about four hours. Chipmakers Intel and Micron had to observe rules.
The visit affected all American enterprises that do business in China, demonstrating a commitment to increased trade. We’re performing our duty. Raimondo reiterated that the two parties would have an official conversation and that the government will help it go well. A talk like that will happen between us.”