23 September 2021

Ladies and gentlemen,

It is my great pleasure to meet with you online..

When I first heard about the Bloomberg New Economy Forum several years ago, I was impressed about the word "new", because I understand "new" is the mother of innovation, which takes mankind forward. Today's world is bustling with innovation, which is shaping China, the US and the whole world significantly.

For China, innovation is the engine of development. China has been transitioning from high-speed growth to high-quality development, which will be empowered, first and foremost, by innovation. Innovation is at the core of China's overall development, and it comes the first in our new development philosophy: innovative, coordinated, green, open and shared development. We have adopted an innovation-driven development strategy, and got actively involved in global innovation network. In Chinese society, innovation has become a fashion, with historic achievements made. According to the latest report of World Intellectual Property Organization issued several days ago, China's ranking at the Global Innovation Index has risen to the 12th this year, moving all up for nine years in a row. Two days ago, President Xi Jinping proposed a Global Development Initiative at his statement at the 76th Session of the UNGA, in which he pointed out that we need to seize the historic opportunities created by the latest round of technology revolution and industrial transformation, redouble efforts to harness technology achievements to boost productivity, and foster an open, fair, equitable and non-discriminatory environment for the development of science and technology. We should foster new growth drivers in the post-COVID era and jointly achieve leapfrog development.

For China-US relations, innovation is a "golden key" to some thorny issues. We need an innovative spirit more than ever before to address the complexities and difficulties of this relationship. We need a new vision, new thinking and new methodology.

First, we need a new vision. Mankind is a community with a shared future. No country can solve the world's difficulties and challenges alone, and no country can stand aloof from them. In President Xi Jinping's phone call with President Joe Biden not long ago, President Xi pointed out that whether China and the US can handle their relationship well concerns the future of the world. When China and the United States cooperate, the two countries and the world will benefit; when China and the United States are in confrontation, the two countries and the world will suffer. China and the US need to show broad vision, shoulder great responsibilities and bring their relations back to the right track of stable development.

Second, we need a new thinking. China and the US differ in history, culture and social system, but with deeply intertwined interests, no one can do without the other side, and no one can change or replace the other side. The Cold-War mentality and zero-sum game go against the trend of the times and the will of the people. They will only increase tensions and lead to conflict and confrontation. The Chinese people never believe in the "Thucydides trap". We will act to open up a path of national renaissance and peaceful development. At the same time, we call upon the US to stay committed to peaceful development, abandon any wrong thinking, and work with China to find a way of getting along based on mutual respect and win-win cooperation.

Third, we need a new methodology. Over the past several years, the China-US relationship has gone through tremendous changes. It cannot return to the past any more. We have to face the reality, look to the future, think out of the box, create new institutions and methods and open up new dimensions for China-US engagement. As major innovators and top two economies in the world, China and the US have great potential to tap in new economy and innovation cooperation. As President Xi stressed in the call, on the basis of respecting each other's core concerns and properly managing differences, China and the US can advance coordination and cooperation on climate change, COVID-19 response and economic recovery. These areas are innovation intensive and very promising for cooperation. China will continue to expand opening-up, continue to do business with the world, and promote technology and trade cooperation with the US side. The US side also needs to create conditions, instead of barriers, for our cooperation. Many of you present today are leaders of transnational corporations with great investments in both countries. You are welcome to take part in China's development, and continue to make contribution to China-US relations.

Ladies and gentlemen,

The word "new" reminds me of a sentence from China's Confucian classic The Book of Rites: "If you can make yourself anew for one day, do so every day, and keep on doing it forever for improvement." I hope that you will use the Forum as a platform, be innovative and forward-looking, and take new bold steps together, so as to jointly explore new solutions to global challenges, look for new ways to spur post-pandemic recovery, and tap new potential of China-US cooperation. I wish this year's Annual Forum a full new success!

Thank you.