Dear CGCC members,

Friends from the business community,

Good evening! As we enter the Chinese New Year, I wish all of you a happy and auspicious Year of the Tiger.

Let me first congratulate the award recipients.     

Congratulations to Mr. Ray Dalio! Mr. Dalio, you have been personally involved in China-US financial cooperation for decades. Your understanding about China and China-US relations have given us great inspiration and confidence.

Congratulations to Delaware Prosperity Partnership! Because of your hard work, many Chinese companies have been attracted to Delaware and made investment there.

Congratulations to Surge Energy America! In less than seven years, Surge has become the biggest privately-held exploration & production operator in Houston. Your success gives Chinese companies great confidence in operating in the US market.

These are truly extraordinary times, with difficulties in bilateral relations, and challenges ranging from COVID-19 to tariffs. However, in 2021, China-US trade relations still registered rapid development. Our two-way trade grew by nearly 30%, reaching a record high of 755.6 billion dollars. It shows again that China-US economic and trade relations are win-win in nature. Our two countries have highly complementary economic structures and deeply intertwined interests. We have broad common interests and great potential for cooperation, especially in trade. So win-win cooperation is our only right choice.

Dear Friends, Thank you for all the hard efforts made to promote China-US economic and trade relations over the past year. You have been important champions of China-US relations, and you are contributors to the future chapters of our economic and trade cooperation. Here I wish to share my hopes for you in the new year.

First, I hope you will have confidence. Chinese economy enjoys great momentum. Foreign investors are still optimistic about the Chinese market. Data from UNCTAD shows that in 2021, foreign direct investment to China reached a historic high of 179 billion dollars, up by 20% year-on-year. The Regional Comprehensive Economic Partnership, which China has joined, has come into effect. More than 90% of the trade in goods among the ratified members will eventually achieve zero tariffs. China has also applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement. The latest version of the negative list for foreign investment access has further opened China’s manufacturing sector, and expanded the pilot opening of the service industry. China will continue to deepen reform, expand high-level opening-up, and strive to build a market-oriented, law-based, world-class business environment.

Second, I hope you will stay committed. The business community should continue to serve as a bridge and bond between our two countries, to cultivate an objective and rational view of both sides and tell the story of cooperation. Such success stories abound. COSCO SHIPPING has made important contributions to stabilizing trade and supply chains between China and the US. Tesla's Gigafactory in Shanghai accounted for more than half of its global deliveries in 2021, helping countries on their green transportation. These stories of win-win cooperation should be known to more people. We expect and welcome American entrepreneurs to visit China through the upgraded version of the "fast track" to gain an up-to-date understanding of China and expand cooperation.

Third, I hope you will have perseverance. The United States is the largest consumer market, and China is the most populous country and the second largest consumer market. Visionary companies will continue to explore and tap deep into the two markets. According to surveys last year, Chinese enterprises will continue to support the operation of their subsidiaries in the US, and 95% of the surveyed American companies are profitable in China. We hope that you will persevere in cultivating the two markets and fulfilling social responsibilities to become popular choices among employees and customers. At the same time, we also hope that the US will provide a level playing field for Chinese enterprises.

Fifty years ago, President Nixon paid a historic visit to China. Chinese and American leaders showed extraordinary political wisdom and courage, and made a choice in line with the historical trend and the interests of the two peoples, which has opened a new chapter in China-US relations.

Today, we must uphold the principles of mutual respect, peaceful coexistence, and win-win cooperation, follow the consensus reached by our Presidents in their virtual summit last year, and strive to realize the healthy and stable development of China-US relations in the next 50 years, to the benefits of the two peoples and the world.

I wish the Gala a great success. Thank you!