China says it would welcome a visit by US commerce secretary after imposition of investment controls
The IndependentThe latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} China says it would welcome a visit by U.S. Commerce Secretary Gina Raimondo following the imposition of foreign investment controls by her agency that have stung numerous Chinese companies. President Joe Biden signed an executive order on Aug. 9 to block and regulate U.S. high-tech investment in China, reflecting the intensifying competition between the world’s two biggest economies. The order seeks to blunt China’s ability to use U.S. investments in its technology companies to upgrade its military while also preserving broader levels of trade that are vital for both nations’ economies. Shu said China is conducting a “comprehensive assessment of the impact of the U.S. executive order” on U.S. foreign investment and will “take the necessary response measures based on the results of the assessment.” The United States and China are increasingly locked in a geopolitical competition with a conflicting set of values, including over Russia's invasion of Ukraine.