Vice Dean Amir Ziv,

Mr. Frank English,

President Yuan Ning,

Ladies and gentlemen,

Good morning.

       It is my honor today to attend the 2012 China Business Conference at the Columbia Business School. On behalf of the Chinese Consulate General in New York, I would like to congratulate you on the opening of the conference. I believe the conference will offer a good platform for closer exchanges between our academic and business communities.

       Our theme today is "the China Model for the next decade". I believe the next decade will promise greater opportunities and brighter prospects for the China-US business ties. Since reform and opening up, China has maintained sound and rapid economic growth. In the face of the international financial crisis, the Chinese economy managed to grow by 11.2% annually from 2006 to 2010 and 9.2% in 2011. Chinese people's livelihood has improved significantly. The rural per capita net income and the urban per capita disposable income have reached 1,120 US dollars and 3,517 US dollars respectively, registering a 50-fold and 60-fold increase over those in 1978. At the same time, the Chinese economy is closely connected with that of the world. Since its accession to the WTO, China has risen from the 6th to the second place in the world in terms of trade volume, importing 750 billion dollars worth of goods each year, creating enormous job and investment opportunities for our trading partners, including the United States. It's no wonder that more and more foreign investors and young people have chosen to join the gold rush in China.

       Ladies and gentlemen,

The China-US relationship is the world's most important bilateral relationship, and the ever growing business ties stand as its major pillar. In the age of globalization, it is only natural for us to complement each other and create synergy and balance in trade and investment. China is a major manufacturing base in the world with its skilled workforce and untapped potential. The United States, on its part, boasts an advanced manufacturing industry, a modern service sector, and the world's biggest consumer market. Last year, bilateral trade reached US$446.6 billion, with an increase of more than 180 folds. China is the US's fastest growing export market and its major market to double its exports. We will enjoy greater and more balanced trade if the US can relax its restrictions on the hi-tech exports to China. Our two-way contracted investment is now approaching 170 billion US dollars. There are over 60,000 US-invested projects in China with 41% of them running a profit higher than their global average.

       Currently, more and more Chinese investors are coming to the US, doing business in larger volume and in broader areas. There are now 1,600 Chinese businesses in the US, covering such areas as manufacturing, wholesale and retail, business service, finance, R&D, and geo-exploration. Those investments have greatly benefited both sides. For instance, the Container Terminal in Long Beach, invested by China Shipping, which Vice President Xi Jinping recently visited, has created nearly 10,000 jobs for Los Angeles.

       Dear students, you are very lucky to study at the world's leading business school, but you are even luckier to witness and be a part of the booming China-US relations. After graduation, you can work in either a Chinese enterprise in the US or an American enterprise in China. Of course you can also start your own business and be your own boss. Your best days are right in front of you. I hope you can contribute your share to the advancement of China-US business cooperation and in this light, see the light in your own career and realize your own dreams.

       In closing, I wish the conference a complete success.

Thank you.