It is time for reflection on the consequential relationship between China and the United States as the COVID-19 pandemic has highlighted major challenges the world has to tackle together for a better future, Chinese Ambassador to the United States Cui Tiankai said on Thursday.

"It is clear that the post-pandemic world would not be stable and global governance would not be effective without sound and stable relations between China and the U.S.. Therefore it is time for reflection on this consequential relationship." Cui said in his opening remarks at the annual conference of the Institute for China-America Studies (ICAS).

Dismissing so-called failures of the past, Cui said that the development of China-U.S. relations since Dr. Henry Kissinger's first visit almost 50 years ago has brought tremendous benefits to the two countries and the whole world.

"Our reflection is necessitated by the fast and complex changes in the world, which present us with great opportunities as well as high risks. We have to have a shared vision for the future and make the right choice. We owe it to the people of both countries and the global community to keep the relations on a constructive track towards agreed goals," he said.

"For China, the choice is clear. China and the U.S. stand to gain from cooperation and lose from confrontation. Cooperation is the only right choice for both countries," he said.

As Chinese President Xi Jinping stated in his message of congratulation to President-Elect Joe Biden, Cui said, the Chinese side stands ready to work with the U.S. side in the spirit of non-conflict, non-confrontation, mutual respect and win-win cooperation, focus on cooperation, manage differences, advance the healthy and stable development of China-U.S. ties, and join hands with other countries and the international community to promote the noble cause of world peace and development.

The one-day ICAS event was comprised of a keynote bilateral dialogue and two sessions dedicated to debating the outlook on U.S.-China ties.

The dialogue, with Cui and Dr. Graham Allison of Harvard University as the keynote speakers, was moderated by Stephen Orlins, President of the National Committee on United States-China Relations. Fourteen other Chinese and American experts were also involved in the conference.