October 15, 2024

Executive Vice Chair Evan Greenberg,
President Stephen Orlins,
Mr. William Ford,
Ladies and gentlemen,
Dear friends,

Good evening! First, I have the honor to read the congratulatory letter from H.E. Xi Jinping, President of the People’s Republic of China, to the Gala Dinner 2024 of the National Committee on U.S.-China Relations.

Ladies and gentlemen,

President Xi’s congratulatory letter showed the importance China attaches to its relationship with the United States, conveyed the sincere hope that our two countries will help each other succeed, reaffirmed China’s firm commitment to expanding opening up and deepening mutually beneficial cooperation, and called for enhancing dialogue and exchanges and sharing in China’s opportunities. Over the past 45 years, the China-U.S. relationship has forged ahead against all the odds. This has benefited both our peoples, and also provided peace and stability for countries globally. At this new historical starting point, the only right choice for us is to stabilize, improve and take China-U.S. relations forward, so as to be responsible for history, for our two peoples and for the world.

To stabilize the China-U.S. relationship, it is important to grasp the trend of the times with vision. At the gala dinner last year, we honored Dr. Henry Kissinger for his remarkable contributions to the relationship. Even at the height of the Cold War when China and the United States were still in estrangement and confrontation, Dr. Kissinger had the insight and wisdom to foresee that a sound China-U.S. relationship is in the fundamental interests of the United States and the world. As we gather here tonight, I suggest we again pay tribute to Dr. Kissinger!

In a globalized era, it is even more important than ever to bear in mind the common interests of the world, reject narrow-minded, short-sighted calculations, and recognize the fact that for China and the United States, turning back on each other is not an option, and trying to remodel or take down one another is unrealistic. The right thing to do is to explore a right way to get along, featuring mutual respect, peaceful coexistence and win-win cooperation.

Taiwan is an integral part of China’s sacred territory. Cross-Strait peace and stability and “Taiwan independence” are just as incompatible as water and fire. To truly safeguard peace and stability across the Taiwan Strait, it is vital to uphold the one-China principle and the three Sino-U.S. Joint Communiqués with concrete actions, and firmly reject “Taiwan independence”.

To improve the China-U.S. relationship, it is important to stay confident in pursuing win-win cooperation. As globalization is under growing headwinds and protectionism is staging a comeback, the third plenary session of the 20th CPC Central Committee has sent out a strong signal: that is, China’s efforts in reform and opening up will never stop. In recent days, China has rolled out a series of targeted, systematic and effective incremental policies, which have boosted market confidence, bolstered patient capital, ignited enthusiasm for going long on China, and also injected much-needed vigor into the world economy.

General Atlantic is a case in point. Under the leadership of Mr. William Ford, the company has stayed committed to the Chinese market for 24 years, seeing China as a top investment destination. So Mr. Ford truly deserves the award. Congratulations!

A total of 1,920 American companies were newly set up in China last year, and 80% of U.S. businesses in China plan to reinvest profits generated there this year. All these show that friends from the business community are voting with their feet. Their choice is not to distance themselves from China, but to invest more deeply into it, and their concern is not about so-called “China Shock 2.0”, but that they may miss out on the China opportunity.

To take the China-U.S. relationship forward, it is important to tackle challenges with greater courage. The National Committee was founded in 1966, when our two countries were still estranged from and hostile toward each other. It played a role in the ping-pong diplomacy which helped to turn the bilateral relationship around, and has been endeavoring to build bridges for goodwill and exchanges and fostering ties of practical cooperation over the past half a century and more.

“A friend in need is a friend indeed.” Although China-U.S. relations are still facing grave challenges, those who keep caring for and supporting the relationship always abound. I am glad to know that the fund raised for this gala dinner has hit a high in recent years. Let me give a thumbs-up to everyone who has pitched in!

It is important to not only talk the talk, but also walk the walk. I expect to see more investors committed to goodwill and collaboration, and fewer speculators who exploit the relationship for their own benefit. Let’s together say a loud NO to decoupling, Cold War and confrontation, and together root for exchanges, cooperation and friendship. Let’s also jointly turn the San Francisco vision into a reality, and strive for a brighter future for China-U.S. relations.

Thank you very much!