China's US envoy reiterates benefits of 'mutual respect'

With China and the United States having reached a phase one trade agreement, Cui Tiankai, Chinese ambassador to the US, said that "dialogue and consultation on the basis of equality and mutual respect will eventually lead to a win-win outcome".

Cui spoke on Wednesday evening at the 2020 Lunar New Year Gala hosted by the China General Chamber of Commerce-USA, or CGCC-USA, on Wednesday in New York. The gala also marked the chamber's 15th anniversary.

"In a highly complex and fluid international environment, such a deal will be conducive to China, to the United States and to the whole world," Cui said. "Win-win is always the hallmark of our economic and trade cooperation."

The event, whose theme was "Responsibility and Appreciation", was attended by about 600 guests from both the Chinese and American business communities who had gathered to honor the contributions made toward building bilateral cooperation.

Cui said that over the past 15 years "China-US relations and, in particular, our economic and trade cooperation had experienced both sound and steady growth and considerable difficulties".

But despite the trade dispute and other external complexities, China had made steady strides in reform and opening-up over the past year.

Giving an example, Cui said that in October, China revised its regulations on the administration of foreign-funded banks. And according to the revision, foreign banks are now allowed to set up both wholly foreign-owned banks and bank branches in China, which means "more opportunities for them to expand their presence in China".

In November, China released a regulation called Opinions on Strengthening the Protection of Intellectual Property Rights, or IPR, which provides for equal treatment of Chinese and foreign companies and more strict and swift law enforcement in IPR cases. So, in the future, IPR infringement will come at a higher price in China.

And the new Foreign Investment Law, which went into effect on Jan 1, has further broadened market access for foreign investment. In addition, China has also lowered tariffs for some imported goods, which will open up new prospects for economic and trade cooperation with the US.

Further, Cui said: "The real strength of this important relationship lies in its ability to overcome challenges and difficulties.

"As we know, our ties are now faced with a difficult situation rarely seen in the past 40 years. Some forces are going all out to demonize China, and provoke confrontation between us. And what they are doing has seriously damaged our relations and put world peace and prosperity in real peril.

"So, if you ask me, what is your New Year's resolution, my answer is, I hope that China-US relations will move forward in the right direction and in a sound and steady manner," he added.

In the new year, Cui said he hoped that no matter how the US domestic politics changed, its real statesmen and women would keep to rational and practical China policies, and reject "extreme rhetoric" such as "decoupling" and a "new Cold War".

He also reiterated China's position on Hong Kong and Xinjiang, calling on China and the US to respect each other and not challenge each other's core interests.

"Hong Kong, Xinjiang, Taiwan and Tibet are all China's territories far away from America. On the issues concerning China's sovereignty and territorial integrity, we urge the US not to put our bottom line to the test. China will never back down on its core interests, and the attempt to split China will never succeed," he said.

"And I would like to quote from President Xi Jinping's New Year message, which says:'We are not afraid of storms and dangers and barriers'. No one can stop the friendly exchanges between the 1.7 billion Chinese and American people, and no one has the power to lead our two great nations astray to conflict and confrontation," Cui said.

"So, I believe that as long as we pull together, the giant ship of China-US relations will break the waves, navigate out of choppy waters and sail on toward better shores."

Xu Chen, the chairman of the CGCC and CEO of Bank of China USA, said that the upcoming signing of the phase one agreement is "certainly a step in the right direction that will restore some bilateral trade and investment, and lighten the burden on our corporations and consumers".

Cho Tak Wong, the chairman and founder of Fuyao Glass Industry Group Co Ltd, was presented with the Most Influential Business Person of the Year Award.

Cho transformed an abandoned GM plant in rural Ohio into one of the largest factories owned by a Chinese company in the US.