Focusing on Peace and Development, Building the Community of Shared Future with Neighboring Countries

— Fu Ying at the 2nd Financial Review Asia Summit

 (2025 September 10)  

On September 9, 2025, the second Financial Review Asia Summit was convened in Sydney, Australia. Co-hosted by the Australian Financial Review (AFR) and the Asia Society Australia, the summit brought together prominent figures from the political and business communities of Asia and Australia to discuss development and business opportunities in Asia and assess potential risks arising from geopolitical shifts. Fu Ying, Former Chinese Ambassador to the United Kingdom and Australia, was invited to attend the event. She delivered a speech and engaged in a dialogue with Jessica Sier, North Asia Correspondent of AFR.

Fu Ying started her speech by mentioning that Asia’s economic rise began in the 1970s, starting with the “flying geese” model. Soon, China picked up the momentum and provided greater driving force. Now China is leading Asia’s modernization and many countries are catching the tide, bringing Asia to the forefront of global economic and technological progress. Currently, China contributes more than 50% to Asia’s economic growth, over 60% to the Asia-Pacific on the whole, and around 30% to global growth. Globally, China is now the largest trading partner of more than 120 countries and it’s starting point is Asia, through the Belt and Road Initiative, the RCEP, and the China–ASEAN FTA, connecting with the world. China’s rise and its economic public goods benefit Asia and the world: from large-scale imports of resources and products, trade in goods and services, investment, aid, and currency stability tools, to deeper integration of supply chains. Now the “new trio” products, namely the electric vehicles, new energy batteries, and solar panels, along with AI technology, are reshaping how we produce and live.

When introducing China’s neighborhood diplomacy, Fu Ying said that maintaining peace and stability in the region and fostering friendly and cooperative relations, is essential for China’s own security and prosperity.  At April’s Central Conference on Relations with the Neighboring Countries, the general conclusion is that China’s relationship with its neighborhood is at its best moment in modern times. There is also awareness that the regional situation is growingly intertwined with what’s happening on the world stage. President Xi reaffirmed that we should work with the neighboring countries in community building through high-quality Belt and Road cooperation which is supported by our common believe in an Asian security model based on sharing weal and woe, seeking common ground while shelving differences, and prioritizing dialogue and consultation. China remains committed to the Asian values of peace, cooperation, openness, and inclusiveness which provides conceptual and value guide for building an Asian community with a shared future.

Fu Ying stated that Asia on the whole has entered a period of long peace and wide prosperity after the end of cold war. This is how countries including China have been able to make use of the development opportunities brought by economic globalization. We have every reason to make sure that the positive tide continues. The Chinese government’s “Global Security Initiative” aims to collaborate with regional countries to build an inclusive framework in which all nations can coordinate their interests. This May, China, together with some other countries established the International Organization for Mediation in the Hong Kong and it’s dedicated to resolving disputes and addressing differences through peaceful means. On September 3, a grand military parade was held in Beijing to commemorate 80th Anniversary of the Victory of the Chinese People’s War of Resistance against Japanese Aggression and the World Anti-Fascist War. This highly transparent display of strength demonstrates China’s ability to safeguard national security and contribute to maintaining world peace. As President Xi Jinping stated, only when nations and peoples treat each other as equals and live in harmony can we maintain common security and eliminate the root causes of war.

Fu Ying said that China, while has grown in strength, is willing to play an active role in shaping peace, development, and cooperation in Asia. Looking ahead, China’s Asia policy will focus on building strategic mutual trust—China and Asian countries are partners, not competitors, and certainly not in a zero-sum relationship. With such mutual trust, we can do a lot, including properly managing contradictions and differences, strengthening cooperation in industrial and supply chain, addressing risks and challenges, and expanding p-to-p exchanges and connectivity. Peace and stability are the foundation of prosperity in this region.

From November 30, 2024, to December 31, 2025, Australian ordinary passport holders can enjoy visa-free entry to China for stays up to 30 days for business, tourism, and family visits.

About the China-Australia relations, Fu Ying observed that China–Australia economic ties have stood firm and overcome the disruptions caused by political differences and strategic tension, indicating strong resilience. China-Australia trade measured in US dollars has grown by 86.6%.  As the Chinese Premier Li Qiang said during his visit to Australia last year, “The cooperation opportunities for China–Australia are as broad as the Pacific Ocean”. This year marks the tenth year since the China–Australia FTA came into effect. There is every reason for both sides to make the best out of the improved political relations to deepen cooperation both in the traditional trading areas and to actively explore new growth areas such as artificial intelligence, medical health, green energy, and digital economy etc. We should also actively promote p-to-p exchanges (China has offered 30 days visa-free to Australia). China is working with Asian countries to build a community with a shared future and welcomes Australia to also join.

During the dialoged session, when asked whether China’s aim is to create an alternative system for international order, Fu Ying said that when the Chinese people speak about order, they refer to the international order centered on the United Nations. The UN system was created after World War II based on global consensus, and though it is not perfect, it remains the only system agreed by every country. China has always positioned itself as a responsible member of the international system, actively supporting the work of the UN, and has sent the more peacekeeping personnel than other permanent members of the Security Council. China also supports other international mechanisms, such as WTO and IMF. Since its accession to the WTO in 2001, China has benefited from trade facilitation. When confronting the U.S. tariff pressure, China has resorted to seeking dispute settlement through the WTO. During the Eurozone debt crisis in 2009, China also offered help played by purchasing US$50 billion of bonds in addition to fulfilling the IMF Special Drawing Rights. The current international order needs further reform and improvement to cope with new global challenges. Based on the concept of building a community with a shared future for mankind, China has cooperated with other countries to create some new public goods, such as Belt and Road Initiative and AIIB, etc. China has no intention of establishing an alternative system. At the regional level, China has also been supporting the development of an inclusive order—for example, by signing the Declaration on the Conduct of Parties in the South China Sea with the ten ASEAN member states, and by respecting and supporting ASEAN’s “central role” in regional security affairs

When asked about China-U.S. relations and their impact on Asia, Fu Ying stated that the United States has long believed that it had a dominance in Asia and still thinks so today. However, the way US sees the world does not necessarily reflect the realities of Asia. The US tend to view China according to its own mirror image and logic, failing to recognize the importance of mutual respect and equality. Driven by a mindset of strategic competition, the US has sought to contain China’s development, undermining bilateral relations. China remains committed to keep a stable and healthy relationship with the US and expects the later move in the same direction.    

When asked about how she views multipolarity in Asia, Fu Ying said that at the global level, multi-polarity is accelerating, and China supports an “equal and orderly multipolar world.”  Asian countries are characterized by diversity in many aspects like cultural tradition and religions believes. But they share a common aspiration for modernization and development. Such diversity needs to be respected and they cannot be determined by any single major power. Many of them had a history of being colonized and have a strong sense of dignity. Many of them also have unresolved border issues left from history and difficult to be resolved. But there is a common understanding to contain disputes and keep relationships on track. And the focus should be on development, which represents the greatest common denominator.

When the moderator asked what role China hopes Australia will play in the “trilateral relationship” among the US, China, and the region, Fu Ying said that Australians know what’s best for them. Unfortunately, some recent articles in the Australian publications indicate that some people may be still trapped in old patterns of thinking, interpreting China’s growing strength and policies from the logic of dominance and control. China and Australia should promote dialogue and exchanges, continuously deepening their understanding of each other’s realities. We should state our differences openly, but not assume we know better than the other about handling their own affairs. Some Australian media have misinterpreted China’s military parade. I wonder if they remember, when Darwin was bombed in 1942, China had already been under a brutal occupation for more than a decade, and Australia and China were fighting for the same goal. The strong signal sent by China’s military parade is a call for peace, with a firm resolve to ensure that the historical tragedies never happen again. The pursuit for peace should be a minimal consensus for all countries, and China and Australia can expand dialogue and cooperation on the basis of this shared understanding.