China, Malaysia must enhance communication, coordination on various issues, says Chinese ambassador

Ouyang says as important representatives of developing countries and emerging economies in Asia, both nations should advocate for an equitable and orderly multipolar world and inclusive and mutually beneficial economic globalisation. — Bernama photo

SEPANG (Dec 5): China and Malaysia must enhance communication and coordination on international and regional issues, firmly support one another, oppose protectionism, and promote trade and investment liberalisation, said Chinese Ambassador to Malaysia, Ouyang Yujing.

He said as important representatives of developing countries and emerging economies in Asia, both nations should advocate for an equitable and orderly multipolar world and inclusive and mutually beneficial economic globalisation.

Ouyang also emphasised the need for reforms to improve the global governance system, safeguarding international fairness, justice, and the shared interests of developing countries.

“Amid the global economy’s slow recovery, the digital economy and green development are gradually becoming new drivers of economic growth.

“Against this backdrop, China-Malaysia economic and trade cooperation is progressively moving into new fields and advancing toward higher quality development,” he said in his speech at the launch of the ‘Assessing the Roles of Chinese Enterprises in Malaysia’s Economic Development’ report here today.

Also present to co-launch the report was Human Resources Minister Steven Sim Chee Keong.

The report was jointly published by the China Enterprises Chamber of Commerce in Malaysia (CECCM) and the Southeast Asia Research Centre for Humanities (SEARCH).

Ouyang further said that to achieve economic growth in the future, the digital economy and green development would represent two key trends, aligning with the high-quality development of a green “Belt and Road”.

He invited the Malaysian government and business community to participate in the Global Digital Trade Expo in Hangzhou, Zhejiang Province, in September to explore new opportunities for collaboration in the digital sector.

For green investment cooperation, the ambassador encouraged companies to focus on areas such as clean energy, new energy vehicles, green finance, and green infrastructure construction.

“At this significant milestone marking the 50th anniversary of the establishment of diplomatic relations between China and Malaysia, I firmly believe that in the years to come, entrepreneurs and business communities from both nations will continue to uphold the spirit of China-Malaysia friendship—’ overcoming obstacles hand in hand,’” he added.

From 2014 to 2023, he noted that China’s annual direct investment flow into Malaysia nearly quadrupled, surpassing US$2 billion (US$1=RM4.44) in 2023.

As of the end of September 2024, he added that China’s cumulative investment stock in Malaysia exceeded US$19 billion, making it a leading source of investment in Malaysia for many years, particularly excelling in manufacturing sector investments. – Bernama

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