Ladies, gentlemen, friends:

Good Evening.

Last month, President Trump paid his state visit to China again after 9 years, accompanied by 17 US business leaders. Mr. Jensen Huang even jumped on board Air Force One midway. Entrepreneurs are probably the group of people that cherish time the most. I think what has driven them to change their schedule and fly across the ocean is definitely not Chinese food or the Great Wall, but the confidence to the Chinese market and high expectations for the Chinese opportunities. I am also very happy to see so many Chinese entrepreneurs came here to the US. It is a positive signal. Although there are differences between the US and China, there is a natural consensus among the business communities, put it simply, taking an open mind to cooperation, and craving for opportunities.

During President Trump's visit, the two leaders agreed on a new vision of a constructive China-US relationship of strategic stability. It is the most important political consensus from this summit, providing strategic guidance for the China-US relationship for the next 3 years and more, and offering a top-layer design for our bilateral economic and trade cooperation. So what is the implication for the industrial and business sector?

First of all, the strategic stability of bilateral relations has paved the way for a reset of our economic and trade ties. As participants in multinational operations and global investment, everyone here knows too well that China-US economic and trade relations have seen frustrating frictions and frequent disruptions, leaving businesses to bear a heavy geopolitical premium.

Under the leadership of our two heads of state, the economic teams of both sides have produced generally balanced and positive outcomes, including agreeing to establish two standing mechanisms: a board of trade and a board of investment. Going forward, economic and trade concerns of both sides could be discussed via these two boards. That means that China-US economic and trade relations may shift from a “black box” that lacks communication, to a new trajectory that is manageable, collaborative, and predictable.

Secondly, market participants will embrace a more stable policy environment and more predictable market conditions. To be frank, in recent years, non-market factors have created substantial hurdles for businesses from both sides. By establishing the two boards, both countries aim to let institutionalized dialogues serve as the protective “guardrails” for our cooperation in more potential areas. On top of that, the two countries have agreed to set a ceiling for future tariffs, and reached a consensus on advancing reciprocal tariff reduction and lowering non-tariff barriers in agriculture and other sectors. That essentially sets a cost ceiling for bilateral trade and economic cooperation in non-sensitive areas, thereby allowing market participants to better assess and hedge against commercial risks.

Thirdly, the repositioning of the bilateral relationship reveals the win-win nature of China-US cooperation. As the Chinese saying goes, “all living things grow in harmony without hurting one another, and different ways may run in parallel without interfering with one another.” With our combined GDP accounting for over one-third of the global total, and total population taking almost one-fourth, it is unthinkable and unpractical for China and the US to not be engaged with each other. The fact that our two countries reached so many deals on agricultural produce and Boeing aircraft fully demonstrates that China and the US are deeply intertwined and interdependent, and our shared interests far outweigh our differences. We can totally enrich each other on the basis of mutual development. Of course, it is natural for the two countries to compete, but the competition should be a race where we chase and push each other to excel and thrive, rather than fighting a boxing match only for a knockout.

Ladies and gentlemen,

China is advancing Chinese-style modernization in full swing through high-quality development. We remain committed to high-standard opening-up and optimizing our business environment. This not only unleashes a signal of stability for the chaotic and intertwined global economy, but also builds a bridge that connects the world's business communities to Chinese opportunities. In 5 years from today, the Chinese economy is expected to exceed 25 trillion dollars, with an increase of 4.4 trillion dollars. That's equivalent to adding another Germany to the world's total.

China boasts the world's largest and most comprehensive renewable energy industrial chain, while the US possesses leading capital, technology, and mature service industry resources. The potential for cooperation between our two countries in fields such as green economy, clean energy, AI, and modern service industry is boundless. As President Xi correctly points out, achieving the great rejuvenation of the Chinese nation and making America great again can go hand in hand. We can help each other succeed and advance the well-being of the whole world.

Ladies and gentlemen,

As we stand at this new juncture of a constructive relationship with strategic stability, I sincerely hope that our friends from the business communities of both countries will continue to build bridges. Let’s strengthen our bilateral ties through commercial collaboration, and make economic and trade cooperation the true “ballast” for our bilateral relations.

Wish tonight’s event a great success. Thank you.