On September 12, 2024, Chinese Ambassador to the United States Xie Feng delivered a keynote speech at the Vision China event. He emphasized that mutual benefit is the defining feature of the China-US relationship, and neither has taken advantage of the other.
Ambassador Xie pointed out that 45 years ago, it was shared interests that opened the door of China-US relations after decades of estrangement. China had labor and markets, while the U.S. had technology and capital. The two sides had a lot to offer to each other. Over the past 45 years, two-way investments have grown from almost nothing to $260 billion, and bilateral trade has surged from less than $2.5 billion to over $660 billion. Both countries have gained substantial benefits along the way. Today, China is one of the top three export markets for 32 US states, and over 70,000 American companies have invested and established businesses in China. US exports to China alone support 930,000 jobs in the US. According to the latest surveys, 72% of American companies expect their profit margins in China this year to meet or exceed the global average, and 80% plan to use the profits to reinvest. Cooperation remains the only viable choice for both countries, and helping each other succeed is the path to a brighter future.