On July 14, 2018, Vice Foreign Minister Le Yucheng delivered a speech at the luncheon of the 7th World Peace Forum organized by the Tsinghua University. Le Yucheng pointed out that this year marks the 40th anniversary of China's reform and opening-up policy. The great achievements from China’s reform and opening-up over the past 40 years are neither stolen from others nor bestowed upon us. Instead, they are created by our hard-working people with their own hands. China's opening-up is no "joke" but a miracle in the modern world.

Le Yucheng introduced the well-being contributed by China’s reform and opening-up to China as well as the world, and reviewed China’s contribution to easing the Asian financial crisis and the global financial crisis, as well as the touching story of China’s active participation in international humanitarian assistance including fighting against the Ebola epidemic. Le Yucheng highlighted a series of new measures adopted by China to deepen reform and opening-up, including considerably lowering tariffs and releasing the revised negative list for foreign investment, and the Chinese government’s tremendous efforts in improving the investment environment. Le Yucheng pointed out that there is still room for improvement in China’s investment environment, but it should also be noted that China has been the largest recipient of foreign investment among developing countries, with more foreign direct investment inflow than any other country but the United States last year. In the first half of this year, foreign investors registered nearly 30,000 new companies in China, showing a 96.6 percent increase year on year. Capital won't flow to a market with an unattractive investment environment and poor profit prospects.

For some people complaining about China’s unfair trading practices and their loss, Le Yucheng pointed out that China was a latecomer to global trade: China did not make the rules, and RMB is not the main settlement currency for transactions, and China was obliged to accept the WTO accession terms. If anybody is to be accused of unfair trading practices, China should be the last one. Forty years ago, China's foreign trade was merely US$20.6 billion. In 2017, trade in goods alone amounted to US$4.1 trillion. It is mutual benefit, not hard selling that has made such an enormous surge possible. No businessmen are foolish enough to have lived with loss-making deals for forty years.

For some accused China of so-called "intellectual property theft" through multiple means, Le Yucheng resolutely refuted such accusation. He expressed that China is rock-firm in protecting intellectual property rights (IPR) and has been strengthening IPR enforcement. China paid US$28.6 billion for intellectual property use last year and recently revised the Trademark Law and Law Against Unfair Competition to further strengthen IPR protection, aiming to further reinforce the efforts for protecting IPR. In China's foreign investment regulations, there is no mandatory requirement on technology transfer. Those who repeatedly accuse the Chinese government of forced technology transfer have never presented a specific case, not even one, to substantiate their allegation. As for the technologies obtained through commercial cooperation, they are the outcome of voluntary deals between market entities, and have nothing to do with forced technology transfer.

Le Yucheng stressed in particular that despite its growing economy, China remains the world's largest developing country, and still lags notably behind the advanced Western countries. Therefore, it would be unrealistic to demand absolute reciprocity in market access between China and developed countries, just as it would be most unfair to put boxers of separate weight classes in the same game or cars of different engine power in the same race.

Le Yucheng also introduced the early harvests of the Belt and Road Initiative through vivid stories, outlined in broad strokes China’s foreign policy and diplomatic endeavors based on his diplomatic experiences over the past 30-odd years, briefed present guests on historic changes of relations between China and the world.

At last, Le Yucheng emphasized that it is the upholding banner and unwavering principle and pursuit of China’s foreign policy to promote the building of a community with a shared future for mankind, and adhere to peaceful development and win-win cooperation.