Latest news with #WCIFIT
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.
RTHK
19-05-2025
- Business
- RTHK
HK to be featured at Chongqing global trade fair
HK to be featured at Chongqing global trade fair Zhang Yongwu, director of the Chongqing Municipal Commission of Commerce, says remarkable achievements have been made after the two regions established the 'Chongqing-Hong Kong Cooperation Mechanism' two years ago. Photo: RTHK Chongqing mayor Hu Henghua says the southwestern metropolis is keen to join hands with other mainland regions to explore overseas markets and green trade. Photo: RTHK Hong Kong will be featured in an international investment and trade event in Chongqing this week, as the two cities eye deeper collaboration in finance and modern services. The SAR has been invited to be a guest city for the first time at the Western China International Fair for Investment and Trade (WCIFIT), an annual event promoting global and domestic trade in the western part of the country The 7th edition of the fair will be held between May 22-25. At a press briefing on Monday, Zhang Yongwu, director of the Chongqing Municipal Commission of Commerce, said a 600 square metre pavilion featuring Hong Kong will be set up to showcase the SAR's financial, shipping and technological innovation progress. He added that remarkable achievements have been made since the two places established the "Chongqing-Hong Kong Cooperation Mechanism" two years ago to promote cooperation in 11 fields, including construction under the Belt and Road Initiative. "The governments of both sides attach great importance to the mechanism, and all sectors from the society are also actively participating in collaborations. Under the framework, remarkable achievements have been made, covering fields including economic and trade investments, finance, science and technology, logistics, cultural tourism, and legal dispute resolution," Zhang told reporters. "For instance, in the field of economic and trade investment, Hong Kong has now become the largest source of foreign investment for Chongqing and is also the second largest trading partner of Chongqing," he said. He said the two cities will jointly hold a series of economic and trade-related events at the fair, including one on the modern services industry, adding that over 20 financial figures from the SAR will visit the municipality to discuss cooperation potential. Some 1,000 enterprises from 39 countries and regions as well as over 20 domestic provinces and cities are set to take part in WCIFIT this year. Meanwhile, Chongqing mayor Hu Henghua said at the same press briefing that the south-western metropolis is keen to join hands with other mainland cities and provinces to explore overseas markets and develop green trade. "At present, a very important breakthrough made in Chongqing is the green-related trade that's featured by industries such as the new energy vehicles," he said. "For instance, when we are talking about the intelligent, internet-connected new energy vehicles, we have established a complete vehicle system, driven by leading enterprises such as Chang'an Automobile and Seres Automobile. "Last year, our export of electric vehicles increased by 96.5 percent and momentum has continued this year," he added. Noting its local gross domestic product exceeded 3.2 trillion yuan last year, Hu said the municipality is confident of reaching an annual growth target of around six percent this year, as it strives to boost the Yangtze River Economic Belt.
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.
