China's Ambassador to the US Cui Tiankai told an audience at a reception on Tuesday that a cooperative relationship between China and the United States is in the interest of people in both countries.

"The China-US relationship is the most consequential bilateral relationship in the world," Cui said at the closing dinner of the 15th annual Horasis China Meeting, a two-day forum that aims to further promote win-win economic ties between the two countries.

It is not only about the well-being of the 1.7 billion Chinese and American people, but also bears on the future of our planet, the ambassador said. However, this relationship is now being challenged to an extent rarely seen since its establishment 40 years ago.

According to the ambassador, demonizing China and inciting confrontation with it have become "politically correct" in some circles. Some even believe only by "decoupling" from China can America be made "great again", Cui said.

"This is neither rational nor realistic, because to decouple from China is to decouple from opportunities; it is to decouple from a hopeful and developing world. It would not serve the best interests of either the American or Chinese people." he added.

As for the attempt to demonize China, it only reveals the darkness of the perpetrators themselves, Cui said.

During a speech at the Bush China Conference in Houston on Monday, China's top envoy to the US underscored that "respecting each other and seeking common ground while constructively managing differences has ensured the development of China-US relations over the past four decades".

"History has proved in the case of China and the US, the success of one country is essential to the other. We can and should help each other; we cannot and should not close the door to each other. Both of our countries stand to benefit from cooperation, and lose from confrontation," he said.

During the Tuesday dinner, Cui also noted the 13th round of China-US high-level economic and trade consultations made substantial progress.

"I believe that we will be able to make a mutually beneficial deal as long as we both show sincerity and reach out to each other on the basis of equality and mutual respect. This is the only way our economic and trade cooperation and overall relations can be restored to the right track," he said.

The Horasis China Meeting brought together senior executives, government officials, as well as think tank leaders from around the world to share thoughts on aspects of China's development and China-US relations.

Nebraska Governor Pete Ricketts, a speaker at the conference, pointed to subnational cooperation to boost bilateral ties between the two countries.

"It's through the efforts of the states to be able to open up the relationships and establish those connections. We are talking about trading and culture that we can expand relationship to the benefit of both parties," he said.

"It's through continued dialogue we will be able to navigate the changing nature of China, the US and the world at large. It's important we have this dialogue so we can make sure the world and the future has even more prosperity in the world that we are leaving behind," Ricketts added.

To Utah's Attorney General Sean Reyes, the China-US economic relationship is "one of friendly competitors, not rivals or enemies," he said.

According to him, China and the US are like "brothers and sisters who spur each other, lead each other and push each other to do even better when it comes to developing services, products and leading out in the world," he said. "A strong China does not mean a weak America, and vice versa, a strong America does not mean that China's threatened. Together, in my view, they can both be strong, and the world will be much better off and stronger for it."