（February 11, 2025, New York）

Chairman Hu Wei,
Ladies and gentlemen,
Dear friends,

It gives me great pleasure to join you in celebrating the 20th anniversary of the China General Chamber of Commerce – USA (CGCC) during the joyous Chinese Spring Festival. Over the past 20 years, the CGCC has stayed committed to serving Chinese enterprises in the United States, and built bridges for business exchanges between our two countries. It has grown together and pursued mutual benefit with the business communities, and also promoted China-U.S. economic and trade cooperation to the benefit of both countries and the world. Over the decades, China-U.S. trade has grown from 211.6 billion to 688.3 billion US dollars. More than 7,000 Chinese companies are investing in the United States, and CGCC’s Chinese members have invested over 140 billion US dollars, supporting more than 1 million jobs throughout the United States. On behalf of the Chinese Embassy in the United States, I would like to offer my warmest congratulations to the CGCC and its member companies! Let me also extend my sincere gratitude to all friends who have cared for and supported China-U.S. economic cooperation!

Dear friends,

While it is already spring, we can still feel the chill in the air. Likewise, the world economy is grappling with weak momentum, geopolitical conflicts and mounting debts. Economic globalization has come under headwinds. Tariff war and trade war are looming over the horizon. The serious challenges facing China-U.S. economic cooperation should not be dismissed. At the same time, as great entrepreneurs know, difficulties can be hurdles, but can also be milestones. Once we overcome them, a new world awaits us. At this new starting point, we need more than ever to demonstrate entrepreneurship, blaze new paths forward, fight to win, stay confident and assured, unleash vitality, and advance the stable, healthy and sustainable development of China-U.S. economic relations.

Our confidence comes from the strong resilience of the China-U.S. relationship, which is just too big to fail. Over the past year, despite the complex and grave situation, we have managed to maintain the overall stability of the China-U.S. relationship and achieved a smooth transition. Bilateral trade increased 3.7% against all odds. Last year, the U.S. trade deficit hit a new record high, surging by about 50% compared with the period before the start of the tariff war in 2017; meanwhile, China’s foreign trade also hit a new record high, up by about 50% than eight years ago. This has again proven that tariff war or trade war cannot solve problems, still less can it hold back China’s development.

China is the first country in the world to officially schedule fentanyl-related substances as a whole class, and also the country that has scheduled the largest number of relevant substances and exerted the tightest control. The outcomes of China-U.S. counternarcotics cooperation are there for everyone to see. Imposing additional tariff on China on the pretext of the fentanyl issue would only be counterproductive. Tariff threats would never work on the Chinese people. Instead, they would only undermine the foundation for China-U.S. counternarcotics and economic cooperation, and raise costs for American households and businesses. In the end, no one would be a winner.

During their phone call on January 17, President Xi Jinping and President Donald Trump reached important consensuses on enhancing communication and cooperation in various fields and stabilizing and developing China-U.S. relations. The right way to resolve issues is through dialogue and consultation. The two sides need to maintain communication, manage differences and expand cooperation based on the principles of mutual respect, peaceful coexistence and win-win cooperation. 

Our assurance comes from the internal momentum of China’s continuous openness and growth. This Spring Festival holiday witnessed the Chinese economy brimming with vigor. Consumption kicked off to a strong start. More than 500 million domestic tourist trips were made. The box office revenue set new milestones. Having grossed over 1.2 billion US dollars so far, the movie Ne Zha 2 has entered the top 30 on the global box office chart, and tickets for most overseas screenings have already sold out even before the release. 

The robust Spring Festival economy has also injected fresh impetus into the world. Global delicacies such as New Zealand’s kiwifruit and Chilean cherries spiced up the Chinese people’s table. American almond and pistachio became popular choices for gifts. The online sales of American blood glucose monitors went up nearly 70%. And 150% more foreign tourists came to China to feel the festive vibes.

In 2024, China’s GDP grew 5% year-over-year, remaining among the top in major economies. More than 170 billion parcels were shipped, and over 21 million new types of consumer goods were added. Altogether, domestic demand contributed nearly 70% of the growth, continuing to serve as a main engine and anchor of stability.

Amid the turbulent waters of the world economy, China stands firm and steady. We are committed to opening more doors, building more bridges, and fostering closer ties with the world. China is now a major trading partner of over 150 countries and regions. Cooperation under the Belt and Road Initiative has made life better for people in more than 150 countries. China-Europe freight trains have run over 100,000 trips. 

We have and will continue to actively share the benefits of our openness and market opportunities with all countries. Our friendly cooperation with other parts of the world, including Latin America, comes with no strings attached, seeks no geopolitical interest, does not target any third party, and will not be disrupted by any third party. The prevailing trend of win-win cooperation is simply unstoppable.

The vitality comes from the broad space for China-U.S. mutually beneficial cooperation. As an ancient Chinese adage said, “Trade is about nurturing goodwill between and delivering benefits to both parties involved.” Last year, American companies took up the largest exhibition area at the seventh China International Import Expo, and led overseas participation at the China International Supply Chain Expo. According to the latest survey by AmCham China, nearly half of American companies rank China as a top 3 global investment priority. 

Friends from the business community are most sharp-eyed. Market rules are mighty. The spontaneous enthusiasm for reaching out to each other on both sides of the Pacific speaks volumes about the win-win nature of China-U.S. relations. As China focuses on advancing Chinese modernization and the United States is keen to boost its economy, we need to help each other succeed so as to achieve shared prosperity, not hinder one another. 

The recent DeepSeek sensation has caused many people to reflect on the futility of chip curbs, and has also demonstrated China’s ingenuity and open mind. New business sectors, forms and models have kept emerging in China. It is estimated that by 2030, China’s digital economy will reach 10 trillion US dollars, and its ice and snow economy will exceed 200 billion US dollars. By 2035, its silver economy could grow to about 4 trillion US dollars. If we view the world through a zero-sum lens, Sputnik moments could be everywhere. But if we adopt a win-win perspective, cooperation and opportunities abound here and there. 

Dear friends,

This week, the eagerly anticipated Ne Zha 2 is coming to North America. The protagonist Ne Zha famously declared, “I am the master of my own destiny.” Through this, you can see the unyielding spirit of the Chinese people who keep moving on with grit, and also the shared will of people around the world to break the shackles and create a better future. The results are shaped by choice, not by chance. For China-U.S. economic and trade cooperation to flourish, a stable, healthy and sustainable bilateral relationship is critical. It is my hope that friends from the business communities in both countries will act with commitment, vision and courage, stay undistracted, seize the opportunities, lead the way, and remain a staunch force supporting China-U.S. relations. I count on the CGCC to continue to advocate for Chinese enterprises in the United States, build more bridges for bilateral economic cooperation, and make greater contributions to a new chapter of win-win cooperation between China and the United States in the next 20 years.

Dear friends,

Tomorrow we will celebrate China’s Lantern Festival. May all of you shine as brightly as the lanterns and lights in your field, and your life be as sweet as sesame rice balls!

Thank you very much.