On September 22, 2022 local time, State Councilor and Foreign Minister Wang Yi delivered a keynote speech at the headquarters of Asia Society in New York.

Wang Yi expressed, no cooperation can be based on a win-lose format. Win-win cooperation is not only possible, but also a must. This is the true narrative of China-U.S. relations in the past half a century, and it should remain the goal we both pursue.

No two major countries have closer people-to-people contacts or more interconnected interests than China and the United States do. A lot of solid facts and figures fully demonstrate that the Chinese and American people want cooperation and our cooperation is driven by win-win outcomes.

For some time now, a few Americans have been saying that win-win cooperation is only a political slogan. We cannot agree with this. As the world's largest developing and developed countries, China and the United States have a lot to offer each other. We enjoy broad room for cooperation in a wide range of areas covering economy and trade, energy, science and technology, education, and people-to-people and cultural exchanges. We shoulder important responsibilities in addressing global issues like COVID-19, economic recovery, climate change, terrorism, proliferation and regional hotspots. An unfailing truth in China-U.S. interactions is that we both stand to gain from cooperation and lose from confrontation. Cooperation is our best choice.

Undeniably, China and the United States have competition in areas like economy and trade, and China does not fear such competition. However, we do not agree that China-U.S. relations should be simply defined by competition, because this is not the entirety or the mainstream of this relationship. At the same time, competition should have boundaries and, more importantly, be fair play. It should be conducted in compliance with widely recognized rules, and not be fixated on undercutting the development capability of others and denying them the legitimate rights and interests. We need healthy competition that brings out the best in each other, not vicious competition that aims at each other's demise.

Wang Yi stressed, based on equality and respect, China is willing to have more and better cooperation with the United States. Meanwhile, for cooperation to be win-win, there needs to be necessary conditions and atmosphere. The United States should not undermine China's core interests on the one hand, and on the other, expect China to cooperate unconditionally.