Mutual gains on offer for US, China

Businesses urged to serve as bridge between nations for win-win outcomes

Cooperation between China and the United States will bring mutual benefits, as the two countries have highly complementary economic structures and deeply intertwined interests, diplomats and business leaders said at a gathering.

"Sino-US economic and trade relations are win-win in nature," Chinese Ambassador to the US Qin Gang said via video during the Lunar New Year of the Tiger Gala hosted by the China General Chamber of Commerce-USA. It is "our only right choice", he said on Tuesday at the event in New York, where those attending also included local government officials.

Last year, trade between China and the US increased by nearly 30 percent to a record $756 billion. "We have broad common interests and great potential for cooperation, especially in trade," Qin said.

He put forward three "hopes" for the new year for the business communities in China and the US.

"I hope you will have confidence. China will continue to deepen reform, expand high-level opening-up and strive to build a market-oriented, law-based and world-class business environment," Qin said.

'Stay committed'

His next hope is that the business communities will "stay committed".

They should become a bridge between China and the US to cultivate an objective and rational view of both sides and tell the story of cooperation, Qin said.

"We expect and welcome US entrepreneurs to visit China through the upgraded Fast-Track program, to gain an upgraded understanding of China and expand cooperation," said Qin, referring to a program that allows for US businesspeople to travel more easily to China amid the pandemic.

The third hope is for "perseverance".

The US is the largest consumer market, and China is the most populous country and the second-largest consumer market.

"I hope that you will persevere in cultivating the two markets," he said. "At the same time, I also hope that the US will provide a level playing field for Chinese entrepreneurs."

When US president Richard Nixon made a historic visit to China 50 years ago, Qin said, Chinese and US leaders showed "extraordinary political wisdom and courage", made choices that conformed to the historical trend and interests of the two peoples, and opened a new chapter in Sino-US relations.

"Today, we must uphold the principles of mutual respect, peaceful coexistence and win-win cooperation," Qin said.

New York Governor Kathy Hochul, Chinese Consul General in New York Huang Ping, New York City Mayor Eric Adams and Jersey City Mayor Steven Fulop also attended the event.

Hochul said China, the US and New York are "amazing partners". "We continue to work together collaboratively, and our people are joined together in a common vision of giving people a better life," she said.

Other local representatives also conveyed their hope of strengthening Sino-US economic and trade cooperation.

Kurt Foreman, president and chief executive of Delaware Prosperity Partnership, told China Daily that it is "an honor to develop relationships over a long term" with business groups such as the CGCC, and he looks for win-win opportunities that can benefit companies and communities.

Also at the event on Tuesday, the business chamber presented the Principle Award to Ray Dalio, a US billionaire investor and founder of the world's largest hedge fund Bridgewater Associates, for exemplifying the principles of cooperation and collaboration and for strengthening business ties between the US and China.

Dalio expressed optimistic views on China's economic growth and called for joint efforts to promote mutual understanding and improve bilateral ties.

Evan Greenberg, chairman and CEO of insurance company Chubb, said: "Our two nations have deep and long-standing interdependencies.

"Two-way trade and investment between the US and China are strategically important, and in the interest of both our countries."