Washington, D.C. – The US-China Business Council (USCBC) celebrated its 50th anniversary with a significant Jubilee Gala, gathering over 500 leaders from various sectors, including business, government, diplomacy, and academia. The event underscored the council’s half-century of fostering the US-China commercial relationship.
Highlighting the gala were congratulatory letters from President Joe Biden and President Xi Jinping, emphasized the importance of continued bilateral cooperation and the USCBC’s role in strengthening US-China relations.
USCBC President Craig Allen opened the event, reflecting on the council’s journey since its inception following President Nixon’s 1972 visit to China. He acknowledged the founders’ vision, particularly Chas Freeman and Bob Hormats, and paid tribute to the late Secretary of State Henry Kissinger for his diplomatic efforts in shaping the US-China relationship.
Secretary of the Treasury Janet Yellen, the keynote speaker, discussed the Biden Administration’s approach towards China, focusing on domestic investment and rebuilding international alliances. She emphasized the need for a level playing field in the US-China economic relationship and addressed challenges, including China’s state-driven economic model and the importance of cooperation on global issues.
Ambassador Nicholas Burns spoke about the revival of a close, coordinated relationship between the US and China, highlighting the historical significance of the USCBC and recent diplomatic efforts to stabilize relations.
Chinese Ambassador Xie Feng remarked on the new opportunities in business cooperation between the US and China. He outlined three key drivers: the stabilizing of bilateral relations, China’s economic recovery, and China’s commitment to opening up its economy to foreign investment.
The event also featured speeches from Visa CEO Ryan McInerney, FedEx Corporation CEO Raj Subramaniam and Thermo Fisher Scientific Chairman, President and CEO Marc Casper, who emphasized the importance of bilateral dialogue and economic engagement.
The USCBC’s 50th anniversary gala not only celebrated past achievements but also set a forward-looking tone, emphasizing the need for continued collaboration between the United States and China to address global challenges and opportunities.
