Chinese Ambassador to the United States Xie Feng told representatives from the US political, business and academic communities that China and the US should complement each other and promote stable, sustainable relations.

The ambassador delivered a keynote speech on Monday at the "Global Opportunities in Deepening China's Reform in the New Era", part of the Global Dialogue Series session held in New York on Monday.

Xie said the ups and downs in the China-US relationship over the past few years show that "dialogue, cooperation and stability are better than confrontation, decoupling and volatility".

"With the bilateral relationship coming to a crucial stage of restabilization, we must cherish what has been achieved and meet challenges ahead," Xie said.

He stressed that for the good of the two nations and beyond, "China and the United States need to complement each other, progress together and promote the sound, stable and sustainable development of the bilateral relationship under the principles of mutual respect, peaceful coexistence and win-win cooperation."

Xie's speech was delivered shortly after the Third Plenary Session of the 20th Central Committee of the Communist Party of China, which concluded on July 18.

He called the session a "blueprint" for further deepening reforms comprehensively to advance Chinese modernization.

He said the meeting was a "step forward in China's consistent reform efforts and its pursuit of Chinese modernization".

Xie noted three signals from the meeting: "Efforts to further deepen reform will be more systematic and integrated, the system of socialism with Chinese characteristics will be further refined, and Chinese modernization will embrace broader prospects.

"The meeting will unlock three categories of opportunities: market opportunities generated by deepening reform, growth opportunities from all-out innovation and cooperation opportunities from high-level opening-up," Xie said.

China's annual imports of goods and services amount to $2.5 trillion, Xie said. In the first half of the year, new foreign enterprises in China increased by 14.2 percent year-on-year, he said.

Chief executives from US companies such as Goldman Sachs, Starbucks and Nike have visited China recently to witness the country's pace of opening up, Xie said.

The envoy also said China would deepen reform, which would "generate market opportunities for the world". Xie said China would upgrade market mechanisms and improve intellectual property rights protection, information disclosure, market access and accountability.

"We will ensure that companies of different ownerships are treated as equals in terms of accessing production factors, competition and legal protection," he said. "We will further eliminate market barriers, clarify market rules and optimize the market environment."

The Global Dialogue Series session was held by China Media Group, or CMG.

Those who gave speeches at the session also included Shen Haixiong, the vice-minister of the Publicity Department of the CPC Central Committee and the president of CMG, Robert Lawrence Kuhn, chairman of the Kuhn Foundation, and Stephen Kennedy Smith, board member of the John F. Kennedy Library Foundation. Nearly 100 guests from diverse US communities attended the event.