In honor of the retirement of Professor Ta-You Wu from the presidency of the Academia Sinica, I would like to report the recent progress of a new way of formulating quantum field theory. The fields of quantization are group-valued local fields, rather than the conventional Lie-algebra-valued local fields. This new quantum field theory in terms of the group-valued local fields not only contains the conventional quantum field theory in terms of Lie-algebra-valued local fields but also, more importantly, brings out new features of the theory: new symmetries, new quantum bi-module fields, and new quanta the bi-modulons. These are non-perturbative results that are difficult to obtain in the Lie-algebra-valued quantum field theory.Professor Wu has always been an inspiring model for me as a physicist and as a scientist statesman, and has been a warm and encouraging friend. I wish him many, many more years of good health and happiness.