China says open for business, sidesteps US 'uninvestible' comment

Raimondo hugs a young girl wearing a LinaBell character dress as she tours the Shanghai Disneyland in Shanghai, China on Aug 30, 2023. - Reuters

SHANGHAI/WASHINGTON (Reuters): China has defended its business practices 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.

The commerce secretary is the latest Biden administration official to visit China in a bid to strengthen communications, particularly on economics and defence, amid concern that friction between the two superpower could spiral out of control.