On September 24, 2019 local time, State Councilor and Foreign Minister Wang Yi attended a dinner co-hosted by National Committee on United States (US)-China Relations, US-China Business Council, US Chamber of Commerce and Council on Foreign Relations in New York, and delivered a keynote speech.

Wang Yi said, opening-up is China's set policy. China's door will not be closed; it will only open even wider. We fulfilled as early as in 2010 our tariff reduction commitments made upon joining the WTO. Currently, our average tariff has been cut further to 7.5 percent, lower than that of most other developing countries. China is also the first in the world to host an annual import expo. The purpose is to open up China's market, and share with others opportunities brought by China's development. China is accelerating the structural reform of its economy. This month, we announced further opening of the Chinese market by abolishing the QFII and RQFII investment quotas. The Foreign Investment Law and its matching regulations will enter into force next year to foster a fairer, more transparent and orderly business environment. The management model of pre-establishment national treatment and the negative list is being applied nationwide. Foreign investors will find the negative list getting shorter and shorter. Yet, opening-up should go both ways. While China opens wider to the US and the rest of the world, we expect the US to do the same to China and remove all unreasonable restrictions. All in all, China's efforts of reform and opening-up during the past few decades and what it has accomplished along the way should be recognized by others, rather than be disparaged or denied. China's development and progress has delivered enormous benefits to other countries, including the US. No one should attempt to deny or distort this fact.