On February 8, Chargé d'Affaires of the Chinese Embassy in the United States, Minister Xu Xueyuan was invited to deliver a keynote speech at the USCBC Forecast 2023 Virtual Conference. The conference was moderated by Amb. Allen, President of the USCBC. More than 100 guests from nearly 80 USCBC member companies, think tanks, business associations, universities and other institutions attended the conference.

In her keynote speech, Xu said that over the past few years, the world’s political and economic landscapes have undergone profound changes. China has been working to contribute stability to the world through clear, consistent policies and unremitting efforts. China’s continued opening-up will bring new development and new prospects. Companies from across the world, including those in the US, will find greater opportunities in China’s vast market, its institutional opening-up and pursuit for closer international cooperation.

Xu said that in the past three years, China’s economy has made remarkable achievements. It has great resilience and potential, and is full of vitality. The fundamentals sustaining China’s sound economic performance in the long run remain unchanged. Looking to 2023, as China gradually optimizes COVID-19 policies and takes steps to further stabilize expectations and boost confidence, its economy will recover across the board. China will contribute important impetus to global growth.

Xu pointed out that the economic and trade cooperation between China and the US remains, in essence, mutually beneficial and will continue to serve as a “stabilizer” in the bilateral relationship. Bilateral trade amounts to nearly 760 billion dollars. More than 70,000 American companies invest and operate in China, with an annual turnover of 700 billion dollars and profits of 50 billion dollars. Bilateral investment reaches 240 billion dollars. But a string of negative moves have been taken by the US side in recent time, which hinders the normal trade between the two countries.The imposed export restrictions and sanctions harm both China and the US itself. In fact, the two countries have long enjoyed deep industrial integration and a highly complementary trade relationship. China-US economic cooperation and trade is based on the mutual needs of the two peoples. A sound, stable and cooperative China-US economic and trade relationship serves the interests of the US,and will continue to play an important role in the bilateral relationship.

In the end of her speech, Xu emphasized that the meeting between President Xi Jinping and President Joe Biden in Bali has charted the course for China-US relations. She conveys the readiness to work with people from all sectors in the US to turn the important common understandings between the two presidents into policies and actions. She also touched on the new difficulties in the bilateral relationship caused by an isolated incident of a civilian airship accidentally entering the US airspace. “This incident shouldn’t be allowed to offset the efforts we have put in place in stabilizing bilateral relations,” said Xu.She hoped that the US business community will stay confident in investing in China, make the most of China’s opening-up policies and platforms, and help curb the negative factors undermining cooperation. She underscored the importance to jointly bring back the China-US relationship to sound and stable development that provides greater certainty and stability to China-US economic and trade relations.

Xu also answered questions on China-US high-level interactions, China’s foreign investment policy and travel between the two countries.