China and the United States had often come toe to toe in the past year, but one week into Biden's presidency, diplomatic insiders are saying that China-U.S. ties could be taking a turn for the better.

"While China wishes America full success in building unity, in healing and in restoration, it is also hoped that integrity, candor, respect and vision will return to its China policy," Cui Tiankai, Chinese ambassador to the U.S., said at an online panel organized by the Carter Center and Chinese People's Association for Peace and Disarmament on Wednesday.

"It has been proved time and again that when China and the United States cooperate, we can get things done, and that is good news for both countries and the whole world," Cui said.

The panel marks the 42nd anniversary of the establishment of diplomatic ties between China and the U.S. Friday especially marks the 42nd anniversary of former Chinese leader Deng Xiaoping's visit to the U.S., when Deng and Former U.S. President Jimmy Carter made the historic decision to establish diplomatic relations between the two countries.

Cui called for mutual respect, dialogue, cooperation and more exchanges in his speech, citing the above as the tried-and-true ways in the past decades for both to prosper.

"Both China and the United States gain from cooperation and lose from confrontation. Cooperation is the only right option for the two sides," he said.

The sentiments were echoed by others.

"We've hit rock bottom and ready to put things back together again," Max Baucus, former U.S. ambassador to China said.

He also suggested the Biden administration start with small steps in restoring relations, including reopening the consulate closed over the Trump administration.

"The United States cannot let China think that the U.S. in any way wants to stop China's rise," he said.

Carter sent a congratulatory letter to the event. In the letter, Carter noted the bilateral relationship has been "under significant strain" in recent years.

"Nonetheless, the United States and China are, and must remain, closely connected," he said in the letter. "I am confident that both the American and Chinese people desire peace and prosperity over conflict."

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