January 18, 2024

Chairman Hu Wei,

Ladies and Gentlemen,

Good evening!

It is my great honor to represent Ambassador Xie Feng at the CGCC-USA 2024 Lunar New Year Gala. On behalf of Ambassador Xie, I would like to extend our warmest New Year greetings to all esteemed guests present tonight, offer our heartfelt congratulations to the CGCC as it approaches its 20th anniversary milestone, and express our sincere gratitude to all friends who have actively supported and fostered the growth of China-U.S. relations.

The dragon toys on the tables are particularly eye-catching, reminding us of the upcoming Year of the Dragon. As an emblem of strength and courage, dragon holds special significance in the Chinese culture. I wish the CGCC and all of you a very happy and prosperous Year of the Dragon!

Over the past two decades, the CGCC has not only provided a home for Chinese enterprises in the United States, but also acted as a bridge connecting business communities between our two countries. Its role in promoting mutual understanding, exchanges, and cooperation has become increasingly prominent. Last November, when President Xi Jinping visited the United States and had a summit meeting with President Joe Biden in San Francisco, the CGCC, along with other friendly organizations of the United States, hosted a grand welcome dinner for President Xi. President Xi articulated China’s domestic and foreign policies as well as its stance on China-U.S. relations, which sent the most authoritative massage that mutual respect, peaceful coexistence and win-win cooperation is the only right way for China and the US to get along with each other, and China is ready to be a partner and friend of the United States.

The year 2023 witnessed ups and downs in China-U.S. relations. The successful San Francisco summit meeting between our two Presidents charted the course and drew a blueprint for China-U.S. relations at a critical historical moment. President Xi Jinping pointed out that China and the United States need to jointly develop a right perception toward each other, jointly manage disagreements effectively, jointly advance mutually beneficial cooperation, jointly shoulder responsibilities as major countries, and jointly promote people-to-people exchanges. We look forward to working closely with the U.S. side to follow up on the significant outcomes achieved at the summit, and restore China-U.S. relations to the track of sound and stable development, so that enterprises of both countries can do business at ease and prosper together, and our peoples can increase exchanges and understand each other better.

At the same time, we have always stressed that China has interests that must be safeguarded. The Taiwan region held elections a few days ago. No matter how the situation on the island may unfold, the basic fact that there is only one China in the world and that Taiwan is part of China will not change. The U.S. government has repeatedly reaffirmed its support for the three China-U.S. joint communiques. President Biden stated publicly again after the elections that the United States does not support “Taiwan independence”. We expect the U.S. side to honor its commitments with concrete actions. Also, China and the United States stand to gain from cooperation and lose from confrontation. When it comes to economy and trade, it is obviously self-contradictory if one keeps building “small yard, high fence” for alleged national security concerns while promising it has no intention to contain China’s development. Such moves will ultimately serve no one’s interest.

The year 2024 marks the 45th anniversary of the establishment of diplomatic relations between China and the United States. The establishment and development of China-U.S. diplomatic ties over the past 45 years has not only bolstered the well-being of both peoples but also promoted world peace, stability and prosperity. On January 1 of this year, President Xi Jinping and President Joe Biden exchanged congratulatory letters, sending out a positive signal of continuing to make joint efforts for the sound, stable and sustainable development of the bilateral relationship.

In line with the two leaders’ guidance, the two sides have been conducting frequent high-level exchanges, and dialogue and communication have been picking up in politics, economy, finance, commerce, agriculture, climate change, military affairs, law enforcement, artificial intelligence, education, culture, sports, health, tourism, academia and other fields. More practical cooperation are resuming. We have authorized Mastercard NUCC to conduct bank card clearing operations in China, and approved Broadcom’s acquisition of VMware. Both sides are discussing new plans for cooperation on panda conservation. After the U.S. side lifted sanctions on relevant Chinese authorities, China have been conducting campaigns against fentanyl and its precursor chemicals, and discussing with the U.S. side the establishment of a working group on counternarcotics cooperation. We have significantly optimized the visa policy for travelers from within the United States, and have been working with the US partners to actively implementing the initiative to invite 50,000 young Americans to China on exchange and study programs in the next five years. We are anticipating more cooperation outcomes in more areas.

Ladies and Gentlemen,

The growth of ourdomestic economies has always been a driving force for bilateraleconomic cooperation. We welcome the robust and stable growth of the U.S. economy, and we are glad to see American companies prosper and the American people have better jobs and lives. Likewise, the Chinese economy has also demonstrated resilience and reboundedamid global economic turbulence. More importantly, the fundamentals sustaining China’s long-term growth have not and will not change.

In 2023, China’s GDP grew by 5.2 percent, 2.2 percentage points higher than the IMF’s global growth forecast. China remains a front-runner and a major engine of the world economy. Total retail sales of consumer goods increased by more than 7 percent year on year, the output of solar cells and newenergy vehicles increased by 54 percent and 30 percent respectively, and investment in the high-tech sector increased by more than 10 percent. All these have demonstrated again the vast potential of China’s huge market and manufacturing capabilities.

China is committed to high-standard opening-up. Last year, against the backdrop of shrinking global trade, China’s trade volume registered positive growth, and the number of newly established foreign enterprises increased by more than 30 percent year on year. Good news keeps pouring in for China-U.S. business cooperation. The Swire Coca-Cola project started construction in Jiangsu. The Shanghai Moderna Pharmaceutical R&D and production base has been listed as a major foreign-invested project in China. The sixth China International Import Expo received the largest U.S. delegation in history, and American firms accounted for one-fifth of foreign exhibitors at the first China International Supply Chain Expo last November.

China is advancing Chinese modernization through high-quality development, and we welcome the United States and other countries to share the huge opportunities this will bring. We also hope the US side will follow market rules, and create a fair, just and transparent business environment for China, correct wrong doings targeted at China including levying extra tariffs, tightening scrutiny on investment, restricting purchases of farmland and throwing up various sanction lists. What we need for our businesses is not chilling effects, but warm welcomes. What we must do for our peoples is not telling demonizing stories but nurturing mutual understanding and friendship.

Ladies and Gentlemen,

The Gala today is themed “Together Towards Tomorrow”. To navigate China-U.S. relations through the canyon of history and steer it along the right direction, both China and the United States need to show courage, wisdom and creativity and make great efforts. In the upcoming Year of the Dragon, let’s act with the dynamism and vitality of dragon, take the opportunity of jointly implementing the San Francisco Vision, and put the fundamental and long-term interests of our two peoples first. Let’s invigorate more mechanisms for dialogue, build more platforms for communication, pave more paths for cooperation, remove more obstacles to progress, and spare no effort to sustain the momentum toward more stable and sound China-U.S. relations, so that our relationship can break waves and sail toward a brighter future.

Thank you all!