Both China and the US stand to benefit from closer cooperation, as the world's two largest economies are highly interdependent, said business leaders, diplomats, and local government officials.
"China-US economic and trade relations are win-win in nature," Chinese Ambassador to the United States Qin Gang said in his video remark at the 2022 Lunar New Year Gala held by the Chinese General Chamber of Commerce in the United States (CGCC-USA) on Tuesday night.
Pointing out that the two countries have "highly complementary economic structures and deeply intertwined interests," Qin stressed that "win-win cooperation is our only right choice.”
Last year, bilateral trade between China and the US grew by nearly 30 percent to a record US$756 billion, Qin said. "We have broad common interests and great potential for cooperation, especially in trade.”
Qin called on the business community to continue to play its role as a "bridge and link" between the two countries, to cultivate an objective and rational view of both sides, and tell the story of cooperation.
New York State 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.
Noting China and the State of New York are “amazing partners”, New York Governor Kathy Hochul said in her address: "We continue to work together collaboratively and our people are joined together in a common vision of giving people a better life.”
Xu Chen, chairman of CGCC and President & CEO of Bank of China U.S.A., said CGCC will continue to play a key role in promoting economic and trade cooperation between the US and China.
At the gala, Chinese Consul General in New York Huang Ping presented the Principle Award to Ray Dalio, a US billionaire investor and founder and co-chairman 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 optimism about China's economic growth and emphasized the importance of a concerted effort to promote mutual understanding and improve US-China relations.
"Our two nations have deep and longstanding inter-dependencies," said Evan Greenberg, chairman, and CEO of the insurance company Chubb Limited and Chubb Group, who also serves on the board of the National Committee on US-China Relations and the US-China Business Council.
Greenberg believed that it is normal for the US and China to have differences, and it is extraordinarily important to manage them. Both sides should start small, keep building confidence and work together to solve problems.
"Two-way trade and investment between the US and China are strategically important, and in the interest of both our countries," he said.