China and US cooperation will bring mutual benefits as the two countries have highly complementary economic structures and deeply interwind interests, said business leaders, diplomats and local government officials.

"China-US economic and trade relations are win-win in nature," Chinese Ambassador to the United States Qin Gang said in his video remarks to the annual New Year Gala of the China General Chamber of Commerce-USA (CGCC-USA). It is  "our only right choice", he said at the event held in New York on Tuesday.

Last year, China and US bilateral trade increased by nearly 30 percent to a record $756 billion, said Qin. "We have broad common interests and great potential for cooperation, especially in trade," he said.

Qin put forward three hopes for the new year for China and the US business community.

First, Qin said, "I hope you will have confidence. China will continue to deepen reform, expand high-level opening up, and strive to build a market-oriented, law-based, and world-class business environment."

Second, "I hope you will stay committed." The business community should become a bridge and bond between China and the US to cultivate an objective and rational view of both sides, and tell the story of cooperation, Qin said.

"We expect and welcome American entrepreneurs to visit China through the upgraded Fast-Track, to gain an upgraded understanding of China and expand cooperation," he said.

Third,  "I hope you will have perseverance." He noted that the US is the largest consumer market, and China is the most populous country and the second-largest consumer market.

"I hope that you will persevere in cultivating the two markets," he said. "At the same time, I also hope that the US will provide a level playing field for Chinese entrepreneurs."

Qin pointed out that 50 years ago then-US President Richard Nixon made a historic visit to China. Chinese and American leaders showed "extraordinary political wisdom and courage", made choices that conformed to the historical trend and the interests of the two peoples, and opened a new chapter in China-US relations, he said.

"Today, we must uphold the principles of mutual respect, peaceful coexistence, and win-win cooperation," said Qin. He said we should follow the consensus reached by our leaders in the virtual summit last year and strive to realize "a healthy and stable development of China-US relations in the next 50 years, to the benefits of the two peoples and the world".

New York State Governor Kathy Hochul, Chinese Consul General in New York Huang Ping, New York City Mayor Eric Adams and Jersey City Mayor Steven Fulop also attended the event.

China, the US and New York are "amazing partners", Hochul said at the gala. "We continue to work together collaboratively and our people are joined together in a common vision of giving people a better life."

Hochul hopes that companies that have left New York City will return quickly and not miss the huge opportunity as the city is recovering from the COVID-19 pandemic.

"Come on back, come back to our city, we need you here," she said. And proudly, Hochul said, New York has America's largest Chinese community.

During the event, other local representatives also conveyed the hope of strengthening China-US economic and trade cooperation.

Kurt Foreman, president and CEO of Delaware Prosperity Partnership, told China Daily that it is "an honor to develop relationships over a long-term" with business groups such as CGCC, and he looks for win-win opportunities that can benefit companies and communities.

Delaware is known as one of the world's leading places to register businesses, said Foreman. "If our combination of location, our combination of people, or combination of a supply chain or costs, make sense for a company from China or anywhere else, we would be honored to have them consider us," he said.

The CGCC on Tuesday presented the Principle Award to Ray Dalio, a US billionaire investor and founder and co-chairman of the world's largest hedge fund, Bridgewater Associates, for exemplifying the principles of cooperation and collaboration and for strengthening business ties between the US and China.

Dalio expressed optimistic views on China's economic growth and called for joint efforts to promote mutual understanding and improve US-China relations.

"Our two nations have deep and longstanding inter-dependencies," said Evan Greenberg, chairman and CEO of the insurance company Chubb Limited, who also serves on the board of the National Committee on US-China Relations and the US-China Business Council.

"Two-way trade and investment between the United States and China are strategically important, and in the interest of both our countries," he said.