Last month, the Beijing government issued a ruling that imposes a US$1.5 million penalty on due-diligence firm Mintz, and provided some details on the legal reasoning behind the investigation that shocked many western businesses and observers.

During this week's trip to China, U.S. Commerce Secretary Gina Raimondo discussed export controls, China's business environment and U.S.-China trade relations at meetings with Chinese officials and made additional statements in media interviews. Here are some highlights of her statements.

At yesterday's press conference, the spokesperson for China's Ministry of Commerce (MOFCOM) commented on the recent U.S. executive order that restricts outbound investment in China, and provided updates on the ongoing trade barrier investigation against Taiwan and China's export controls on gallium and

China's central government recently announced new measures to attract foreign investment. These measures cover policies related to market access, national treatment, data flows, and fiscal and tax support.

After the Biden administration issued an Executive Order and proposed rulemaking last week for restrictions on U.S. investment in China, several experts offered commentary on various aspects of the measures, including possible Congressional action, coordination with allies, and China's response.

Chinese officials pushed back against the new U.S. Executive Order that would curb certain outbound investment in China, calling it "blatant economic coercion and tech bullying" and vowing to take countermeasures.

Yesterday, the Biden administration announced the first steps towards executive branch action on restricting new U.S. investment in China in several sectors with a close connection to the development of military technology. Additional Congressional action in this area may follow soon.