Latest news with #Malaysia-ChinaBusinessCouncil
The Star
26-05-2025
- Business
- The Star
Malaysia and China unite: Shared values strengthen bilateral ties
KUALA LUMPUR: Despite distinct national backgrounds, Malaysia and China possess shared values that consistently reinforce their robust bilateral relationship, says Prime Minister's political secretary Chan Ming Kai Chan said both nations promote peaceful cooperation, prioritising mutual respect and win-win outcomes. 'These values form the foundation for meaningful partnerships and are essential for constructing a shared future for humanity. Due to this shared outlook, Malaysia-China cooperation is crucial and holds significant potential for further development growth,' he said during the speech at Asean-China Economic Forum and the launch of the Third China International Supply Chain Expo Roadshow on Monday (May 26). He stated that while each country may pursue its own development model, all face intense and often harsh market competition. Describing the situation as 'involution,' Chan remarked that the region must avoid unhealthy rivalries. 'While the United States has shown its way of responding, Asean and China must chart a different course—one that continues to pursue mutual benefit, even in challenging times,' he said. Chan also emphasised the significance of Tan Sri Low Kian Chuan's appointment as chairman of the Malaysia-China Business Council (MCBC), noting that Sunday's event was the first independently hosted by MCBC under its new leadership. 'This event reflects our future direction and commitment. The Prime Minister's Office will continue to support and monitor the council to ensure it fulfils its role effectively in driving Malaysia-China economic cooperation,' he said. Meanwhile, China Council for the Promotion of International Trade (CCPIT) president Ren Hongbin emphasised the significance China places on Asean. He noted that President Xi Jinping's first overseas visit this year was to the region, as was the first official outbound mission by China's business community. 'This highlights the strategic importance of Asean to China. We are committed to working with Asean's business sectors to deepen cooperation, implement trade pacts such as the Regional Comprehensive Economic Partnership (RCEP), and advance our comprehensive strategic partnership,' he said. Ren added that amid rising global uncertainty and instability, China and Asean—two major developing economies—remain steadfast in supporting economic globalisation and multilateralism.
The Star
26-05-2025
- Business
- The Star
Evolving ties: Malaysia and China shift from trade to innovation partnership
KUALA LUMPUR: Malaysia and China's partnership is evolving from traditional trade to a deeper collaboration based on innovation, talent, and shared development goals, says Science, Technology and Innovation Minister Chang Lih Kang. He stated that China has been Malaysia's largest trading partner for 16 consecutive years; however, the relationship was evolving from transactional exchanges to transformational cooperation. 'We're not just exchanging goods anymore—we're sharing ideas, talent, and innovation,' he said during a speech at the Asean-China Economic Forum & The Third China International Supply Chain Expo Roadshow on Monday (May 26). Chang highlighted Malaysia's strategic position at the heart of Asean, supported by its multilingual workforce and pro-business environment, as a natural partner for global enterprises. "With China's technological scale and Malaysia's regional connectivity, both nations can jointly build smart and sustainable supply chains, "he said. Outlining Malaysia's innovation agenda, Chang said the government was investing in areas such as the hydrogen economy, AI, robotics and semiconductors through initiatives like the Hydrogen Economy and Technology Roadmap and the upcoming National Semiconductor Strategy. 'These efforts are in line with the Malaysia Madani government's vision to create a future-ready, inclusive and resilient economy. 'In today's uncertain world, no country can stand alone. We must work together to create resilient, diverse, and responsive ecosystems that meet global challenges,' he added. Malaysia-China Business Council (MCBC) chairman Tan Sri Low Kian Chuan said the recent upgrade of the Asean-China Free Trade Agreement (ACFTA 3.0), which includes new chapters on the digital and green economies, supply chain connectivity, and SME cooperation, has further strengthened regional ties. Low said that Asean and China remain each other's top trading partners, with China holding the position for Asean since 2009 and Asean becoming China's largest partner since 2020. 'Countries like Malaysia, Indonesia, Thailand and Vietnam are emerging as competitive production hubs, navigating geopolitical shifts while deepening economic ties with China,' he added. The Malaysia-China Business Council (MCBC) and the China Council for the Promotion of International Trade (CCPIT) jointly hosted the Asean-China Economic Forum & The Third International Supply Chain Expo Roadshow, aimed to strengthen Asean-China economic ties, promote resilient and sustainable supply chains, and showcase collaboration opportunities in key sectors such as advanced manufacturing, green agriculture, the digital economy, smart infrastructure, and healthcare. The Forum and Roadshow supported the upcoming Third China International Supply Chain Expo, to be held from July 16 to 20 in China. Low stated that the event provides opportunities for large firms and enables SMEs to integrate into China's extensive supply chain network. 'This platform promotes greater inclusivity, resilience and sustainable growth,' he said. As Asean Chair this year, Malaysia is well-positioned to drive regional supply chain integration in semiconductors, renewable energy, EVs, and digital technology sectors. 'Our strategic location and capabilities make Malaysia an ideal hub. With the National Energy Transition Roadmap offering RM637bil in opportunities by 2050, and China's strengths in solar and hydropower, we see strong potential for collaboration,' Low said. He invited Chinese and Asean businesses to partner with Malaysia in building 'long-term, win-win cooperation,' saying innovation and smart manufacturing would be key to future growth.
