(Bloomberg) -- US Commerce Secretary Gina Raimondo is planning to visit China in late August, according to people familiar with the matter, part of the Biden administration’s effort to reduce tensions between the world’s two largest economies.Most Read from BloombergLots of US Homeowners Want to Move. They Just Have Nowhere to GoAsia’s Richest Families Fuel Race for Lucrative Finance JobsUS, Europe Are Growing Alarmed by China’s Rush Into Legacy Chips‘FOMO Rally’ Hits a Wall as Stock Fatigue Kic