Latest news with #7thWesternChinaInternationalFairforInvestmentandTrade
New Straits Times
25-05-2025
- Business
- New Straits Times
Malaysia, China ink deal to boost palm oil supply chain in western China
KUALA LUMPUR: Malaysia and China have signed a strategic agreement to develop a palm oil supply chain in western China, expanding green industry cooperation between the two countries. The memorandum of understanding between the Malaysian Palm Oil Board and China's New Land-Sea Corridor Operation Co Ltd will fast-track logistics and trade via the Qinzhou Port-Chongqing route. The corridor links Malaysia to inland provinces such as Sichuan, Guizhou and Shaanxi. Plantation and Commodities Deputy Minister Datuk Chan Foong Hin said the pact supports a more sustainable and efficient palm oil network. "Malaysia is eager to leverage its Malaysian Sustainable Palm Oil certification, one of the world's highest sustainability standards, to deepen institutional linkages with China in areas such as carbon labelling, biofuels and green materials," he said in a statement. Chan led the Malaysian delegation to the China-Malaysia Industry Cooperation Dialogue, held on the sidelines of the 7th Western China International Fair for Investment and Trade. The event brought together over 40 firms from the food processing, personal care and oil refining sectors for targeted business discussions. The focus was on boosting industrial uses of palm oil in the Sichuan-Chongqing region. Malaysia is also collaborating with Chongqing Jiaotong University to develop palm oil-based polyurethane acrylate for anticorrosive coatings. The effort is part of a broader push to expand palm-derived chemicals in China's industrial applications. Other initiatives include promoting high-value palm products such as red palm oil, palm stearin and palm-based ice cream powder. Joint research and development projects are underway with Chinese firms to incorporate these derivatives into hotpot soup bases, snacks and sustainable personal care goods.
Borneo Post
25-05-2025
- Business
- Borneo Post
Deputy Minister: Malaysia promotes high-value palm derivatives in global markets
Chan (third left) and others at a pre-council meeting ahead of the China (Chongqing)-Malaysia Industry Cooperation Dialogue. KUCHING (May 25): Malaysia is promoting high-value palm derivatives such as red palm oil, palm stearin and palm-based ice cream powder in the global markets, said Datuk Chan Foong Hin. The Deputy Minister of Plantation and Commodities said joint research and development (R&D) initiatives are underway with food companies in Sichuan and Chongqing, targeting applications in hotpot soup bases, spicy snacks and sustainable personal care products. 'As China pursues its vision of a shared future for mankind, Malaysia is proud to work alongside it—using palm oil as a bridge to promote regional green growth and sustainable development,' he said in a statement today. The statement was issued following the China (Chongqing)-Malaysia Industry Cooperation Dialogue, which was successfully held in Chongqing last Thursday, with a strong focus on expanding collaboration in palm oil trade, technological innovation and the development of sustainable supply chains. The dialogue was a highlight of the 7th Western China International Fair for Investment and Trade (WCIFIT), reaffirming Chongqing's strategic role within the Malaysia-China green value chain. Over 40 representatives from leading enterprises in food processing, condiments, personal care and oil refining industries attended the event for targeted business matching and dialogue. In his keynote address, Chan emphasised the growing global momentum toward green development, highlighting palm oil's potential as a critical bridge for regional cooperation. According to him, Malaysia is eager to leverage its Malaysian Sustainable Palm Oil (MSPO) certification—one of the world's highest sustainability standards—to strengthen institutional linkages with China in areas such as carbon labelling, biofuels and green materials. 'Together, we can build a supply network that is not only efficient and innovative but also environmentally responsible.' Chan noted the vast market potential in western China, with Chongqing acting as a central hub in the New International Land-Sea Trade Corridor. He explained that this logistical advantage allows Malaysian palm oil to efficiently reach inland provinces such as Sichuan, Guizhou and Shaanxi via the Qinzhou Port-Chongqing route. Chan announced that Malaysian Palm Oil Board (MPOB) and New Land-Sea Corridor Operation Co Ltd had signed a memorandum of understanding (MoU) to accelerate the development of a strategic palm oil supply chain covering western China. In addition, Malaysia is collaborating with Chongqing Jiaotong University to develop palm oil-based polyurethane acrylate for anticorrosive coating—broadening the scope of palm-based chemicals in China's industrial sector, he said. The dialogue concluded with a high-level roundtable on 'The Future of China's Palm Oil Industry Amid Global Oils and Fats Trends', moderated by Zhou Shiyong, president of Beijing Heyirong Co Ltd, featuring robust discussion on trade trends, sustainability certification, technological innovation and policy frameworks. This successful industry dialogue not only strengthened Malaysia-China collaboration across the palm oil value chain but also injected fresh momentum into building a green, efficient and mutually beneficial regional supply network—marking a new chapter in bilateral economic cooperation, the statement added. Chan Foong Hin China high-value palm derivatives lead
Borneo Post
25-05-2025
- Business
- Borneo Post
Deputy Minister: Malaysia promotes high-value palm derivatives in global market
Chan (third left) and others at a pre-council meeting ahead of the China (Chongqing)-Malaysia Industry Cooperation Dialogue. KUCHING (May 25): Malaysia is promoting high-value palm derivatives such as red palm oil, palm stearin and palm-based ice cream powder in the global market, said Datuk Chan Foong Hin. The Deputy Minister of Plantation and Commodities said joint research and development (R&D) initiatives are underway with food companies in Sichuan and Chongqing, targeting applications in hotpot soup bases, spicy snacks and sustainable personal care products. 'As China pursues its vision of a shared future for mankind, Malaysia is proud to work alongside it—using palm oil as a bridge to promote regional green growth and sustainable development,' he said in a statement today. The statement was issued following the China (Chongqing)-Malaysia Industry Cooperation Dialogue, which was successfully held in Chongqing last Thursday, with a strong focus on expanding collaboration in palm oil trade, technological innovation and the development of sustainable supply chains. The dialogue was a highlight of the 7th Western China International Fair for Investment and Trade (WCIFIT), reaffirming Chongqing's strategic role within the Malaysia-China green value chain. Over 40 representatives from leading enterprises in food processing, condiments, personal care and oil refining industries attended the event for targeted business matching and dialogue. In his keynote address, Chan emphasised the growing global momentum toward green development, highlighting palm oil's potential as a critical bridge for regional cooperation. According to him, Malaysia is eager to leverage its Malaysian Sustainable Palm Oil (MSPO) certification—one of the world's highest sustainability standards—to strengthen institutional linkages with China in areas such as carbon labelling, biofuels and green materials. 'Together, we can build a supply network that is not only efficient and innovative but also environmentally responsible.' Chan noted the vast market potential in western China, with Chongqing acting as a central hub in the New International Land-Sea Trade Corridor. He explained that this logistical advantage allows Malaysian palm oil to efficiently reach inland provinces such as Sichuan, Guizhou and Shaanxi via the Qinzhou Port-Chongqing route. Chan announced that Malaysian Palm Oil Board (MPOB) and New Land-Sea Corridor Operation Co Ltd had signed a memorandum of understanding (MoU) to accelerate the development of a strategic palm oil supply chain covering western China. In addition, Malaysia is collaborating with Chongqing Jiaotong University to develop palm oil-based polyurethane acrylate for anticorrosive coating—broadening the scope of palm-based chemicals in China's industrial sector, he said. The dialogue concluded with a high-level roundtable on 'The Future of China's Palm Oil Industry Amid Global Oils and Fats Trends', moderated by Zhou Shiyong, president of Beijing Heyirong Co Ltd, featuring robust discussion on trade trends, sustainability certification, technological innovation and policy frameworks. This successful industry dialogue not only strengthened Malaysia-China collaboration across the palm oil value chain but also injected fresh momentum into building a green, efficient and mutually beneficial regional supply network—marking a new chapter in bilateral economic cooperation, the statement added. Chan Foong Hin China high-value palm derivatives lead
Malaysian Reserve
23-05-2025
- Business
- Malaysian Reserve
Enterprises from 39 Countries Join WCIFIT, with Thailand, Hong Kong, and Sichuan in the Spotlight
CHONGQING, China, May 23, 2025 /PRNewswire/ — A news report from iChongqing: Over 1,300 enterprises from 39 countries and regions gathered in Chongqing on May 22 for the 7th Western China International Fair for Investment and Trade (WCIFIT), highlighting rising global interest in the region's economic potential. The event drew participants from 28 Chinese provinces and the Hong Kong Special Administrative Region, showcasing the latest in trade and innovation. The fair also featured the debut of Lingjie, the world's first megawatt-class supercharging heavy-duty truck, co-developed by Qingling Motors and Huawei Digital Power. With ultra-fast charging and smart connectivity, it marks a major step forward in green logistics and heavy-duty transport electrification. Centered around the theme 'New Western China, New Manufacturing, New Services,' this year's fair highlights cultivating new quality productive forces and promoting high-quality development. 56 Chinese central state-owned enterprises, 156 local state-owned enterprises, 47 Fortune Global 500 companies, 93 multinational corporations, and 286 leading private enterprises participated. Thailand is participating as the guest country of honor, Sichuan Province continues its role as the permanent guest province, and the Hong Kong Special Administrative Region joins as the new guest city of honor. Dr. Lalivan Karnchanachari, Vice Minister to Ministry of Foreign Affairs of Thailand, highlighted the significance of this year marking the 50th anniversary of diplomatic ties between China and Thailand. She expressed hopes for deeper cooperation with Chongqing in high value-added manufacturing, supply chains, and SME development. At the opening ceremony, a series of major investment deals were signed, with the total amount exceeding 200 billion yuan (about 27.6 billion USD). Districts and counties across Chongqing secured agreements worth over 100 billion yuan, with more than 75% of the investment directed toward the manufacturing and modern services sectors. Showcasing both exhibitions and themed activities, this year's WCIFIT exhibition spans three major sections—comprehensive image, international and regional cooperation, and modern industry—covering nine halls across 110,000 square meters. A virtual exhibition hall has also been launched to extend access online. Themed activities include 29 events focused on key areas such as the productive service industry, foreign investment, international trade, public sector engagement, and special programs hosted by the guest of honor.
New Straits Times
18-05-2025
- Business
- New Straits Times
Malaysian delegation in China to boost ties in palm oil sector
KUALA LUMPUR: Malaysia is strengthening its strategic trade ties with China through a week-long official mission led by Deputy Minister of Plantation and Commodities Datuk Chan Foong Hin, aimed at unlocking new market potential for palm oil and promoting innovation in downstream products. The mission, which runs from today until May 24, will focus on enhancing bilateral commercial cooperation, expanding palm oil applications in Chinese industries and cuisines, and deepening Malaysia's presence in the high-growth markets of Western China. In a statement today, the Plantation and Commodities Ministry said the delegation will begin its visit in Shanghai, where Chan will officiate the 20th Anniversary Commemoration Ceremony of the Palm Oil Research and Technical Service Institute of MPOB (PORTSIM) – the China office of the Malaysian Palm Oil Board (MPOB). The Ministry of Plantation and Commodities secretary-general Datuk Yusran Shah Mohd Yusof and MPOB director general Datuk Dr Ahmad Parveez Ghulam Kadir, will also be in attendance. Established in 2005, PORTSIM serves as Malaysia's overseas research and development hub, facilitating technology transfer, product innovation and the development of new palm oil applications in China. The ministry said that through strategic collaborations with Chinese institutions and industries, PORTSIM plays a vital role in promoting palm-based products, including food, oleochemicals, and detergents, contributing significantly to Malaysia's downstream expansion in the Chinese market. Following the Shanghai leg, it said the delegation will travel to Western China, including the cities of Chengdu and Chongqing, to conduct company visits and roundtable discussions with state-owned enterprises and local industry stakeholders. The ministry said these engagements aim to enhance strategic collaboration and expand trade networks, with a particular emphasis on promoting palm oil applications in popular Chinese cuisines, such as mala hotpot, a renowned dish from Chongqing and Sichuan province. "A key highlight of the visit will be Chan attending the 7th Western China International Fair for Investment and Trade (WCIFIT) and hosting the roundtable meetings with importers from Western China, held at the Chongqing International Expo Centre," it said. In addition, the ministry said he will hold a courtesy meeting with the Chongqing Municipal People's Government to explore broader cooperation in trade and investment, with a focus on the palm oil industry and other key Malaysian commodities. The meeting will also discuss expanding partnerships in Western China, a region experiencing robust market growth and increasing demand for sustainable raw materials. China is Malaysia's third-largest importer of palm oil and palm-based products globally, accounting for 10 per cent of the total palm oil export value in 2024. Last year, Malaysia's exports of these products to China reached RM10.57 billion, marking a 5.11 per cent increase from RM10.06 billion in 2023. According to Oil World statistics (2024), Malaysia accounts for 26.7 per cent of the market share in China. The ministry said this official visit underscores Malaysia's commitment to deepening economic ties with China, enhancing market access for palm oil products, and supporting sustainable growth across key export sectors.
