While China-U.S. relations are faced with a difficult situation rarely seen in the past 40 years, business communities are playing an important role in improving the situation. The China General Chamber of Commerce-USA (CGCC), the largest non-profit organization representing Chinese investment in the United States, hosted the 2020 Lunar New Year Gala & 15th Anniversary Celebration in New York on January 8, which attracted more than 600 business leaders, government officials, and representatives from both countries. 

“While the [China-U.S.] relationship has become ever more complex and markets face constant volatility and uncertainty, this gala is a true testament to your commitment to dialogue and the restoration of trust and bilateral cooperation,” said Xu Chen, CGCC Chairman and President and CEO of Bank of China USA, in his opening remarks at the gala. 

Chinese Ambassador to the United States Cui Tiankai said in his keynote speech that dialogue and consultation on the basis of equality and mutual respect will eventually lead to a win-win outcome for China and the United States. 

Cui also said that the business communities have played an important role in the growth of China-U.S. relations, as they were deeply involved every time this relationship went through ups and downs. 

Curt Ferguson(center), President of Coca-Cola Greater China, Korea and Mongolia, on behalf of Coca-Cola Chairman James Quincey, receives the Goodwill Ambassador for China-U.S. Exchange Award from Chinese Ambassador to the U.S. Cui Tiankai (right) and CGCC Chairman Xu Chen (left) at the CGCC 2020 Lunar New Year Gala & 15th Anniversary Celebration in New York on January 8 (ZHAO WEI)

Cui expressed his hope that China-U.S. relations will move forward in the right direction and business communities will remain confident about the future. “‘Decoupling’ is not an option for China and the United States, nor can a ‘new Cold War’ find popular support anywhere in the world,” Cui said. 

A long-term, sound and steadily growing relationship between China and the United States will continue to provide opportunities for both Chinese and American companies and people, said Cui. 

Cui also hoped that business communities will stand against anyone trying to create confrontation and hatred and undercut China-U.S. relations, and will lend positive impetus to China-U.S. friendship and cooperation. 

“No one can stop the friendly exchanges between the 1.7 billion Chinese and American people, and no one has the power to lead our two great nations astray to conflict and confrontation,” Cui stressed. 

At the gala, CGCC presented four awards to individuals and companies for their steadfast commitment to strengthening U.S.-China business relationship, unique impact on global business collaborations and continued support to corporate social responsibility programs that have consistently given back to local communities through job creation and economic growth. 

Cho Tak Wong (right), founder and chairman of Fuyao Glass Industry Group, attends a fireside chat with Steven Chapman, Cummins Inc.’s Vice President for China and Russia, at the CGCC 2020 Lunar New Year Gala & 15th Anniversary Celebration in New York on January 8 (ZHAO WEI)

James Quincey, Chairman and CEO of the Coca-Cola Company, was honored with the Goodwill Ambassador for China-U.S. Exchange Award for his acumen and strategic commitment to a constructive China-U.S. relationship.   

Cho Tak Wong, founder and chairman of Fuyao Glass Industry Group, was conferred the Most Influential Business Person of the Year Award for blazing a trail in unchartered territory and leading his business to make historic contributions to the local community. Cho’s factory in Dayton, Ohio is the subject of Netflix's Obama-backed documentary American Factory.  

On January 6, Fuyao announced its new expansion plan by investing $46 million in new equipment at its Dayton plant, which is expected to bring 100 new jobs to the local community. 

International Vitamin Corporation, a consortium of Chinese investors, and ND Paper, a wholly owned subsidiary of China’s largest containerboard producer Nine Dragons Paper (Holdings) Ltd., were honored with the Excellence in Job Creation and Economic Development award for their respective investments in the United States, which have created high-quality jobs and supported economic growth in the local communities. 

Founded in 2005, the CGCC has a membership of 1,500 Chinese and U.S. companies. As of 2018, CGCC Chinese member companies have cumulatively invested over $120 billion in the United States, and directly employed more than 200,000 people while indirectly supporting over 1 million jobs throughout the United States. 

(Reporting from New York City) 

Copyedited by Madhusudan Chaubey 

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