Chinese Commerce Minister Wang Wentao stated that China and the U.S. are working to create a stable business environment, aiming to stabilize economic and trade cooperation. Regular ministerial-level meetings have been agreed upon since U.S. Commerce Secretary Gina Raimondo's visit to China last summer. Although Wang did not mention U.S. tech restrictions, he highlighted the adverse impact of sanctions on business uncertainty and compliance costs. The Biden administration has imposed export controls on advanced tech sales to China in the past two years. Wang emphasized the common economic interests between China and the U.S. and mentioned ongoing efforts to release data rules. China's economic growth has slowed, with international trade facing increased complexity and severity due to geopolitical tensions. Foreign direct investment in China fell 8% in 2023, prompting efforts to attract foreign investment.