Wendy R. Sherman, the U.S. Deputy Secretary of State, is to meet with officials from the People's Republic of China over the next few days, "to advance U.S. interests and values and to responsibly manage the relationship" between the two countries, the State Department said in a statement on Wednesday. 

The U.S. government has warned American companies that they faced potentially serious and escalating risks if they continued doing business in Hong Kong, as a result of China's continuing crackdown on freedoms and privacy there. 

 ... as a senior Chinese official is quoted as saying U.S. businesses are 'essential' for China's development... 

Relations between the U.S. and Chinese governments may still be frosty, but it seems that the prospect of business to be done as the Covid-19 pandemic appears to be starting to ease is prompting Western banking industry executives to move at speed to target the Asia Pacific region's wealthiest individuals – and prompting Chinese officials to ensure that these companies feel they're welcome, events over the last week reveal.

China has begun coming after some of its citizens living abroad to collect taxes – making good on its previously-disclosed plans to get some of its taxpayers who are resident outside of the country to contribute to their home country’s tax coffers, Bloomberg, the South China Morning Post and other major media organizations have reported over the last few days.

American companies in China are forecasting a continued growth in their revenues, although they say financial performance has softened compared with previous years, a survey of such businesses released last week by the  American Chamber of Commerce in China, in partnership with Deloitte, reveals. 

The American Chamber of Commerce in the People’s Republic of China has announced that it’s to establish a fifth chapter in the country, in Shandong province, following the signing of a memorandum of understanding with the region's Commerce Department.