Malaysia-China trade exceeds RM549bil in first seven months of 2023, says ambassador

KUALA LUMPUR: The trade volume between Malaysia and China for the first seven months of this year reached US$117.52bil (RM549.84bil), says China’s Ambassador to Malaysia, Ouyang Yujing.

The Chinese Embassy in Malaysia reported a 10.8% increase compared to the same period last year.

Furthermore, he said China’s non-financial direct investment in Malaysia has grown to US$1.28bil (RM5.99bil), an increase of 28.8% from the previous year. He also mentioned tourist visits from China to Malaysia have surged to 1.8 million, a rise of 160%.

“Additionally, there are now around 450 flights operating weekly between China and Malaysia, exceeding pre-pandemic numbers,” said Ouyang during the 75th anniversary of the founding of the People’s Republic of China on Friday (Sept 13).

This year marks the 50th anniversary of China-Malaysia diplomatic relations. Ouyang said that significant progress has been made under the strategic guidance of leaders from both nations towards building the China-Malaysia Community with a Shared Future.

“The past 50 years have left us great legacies to cherish and carry forward, which ensured the success of our half-century journey.

“They are the mutual respect and trust rooted deeply in our commitments to embarking on our journey together, our adherence to independent foreign policies advocating peace, development, and justice, and our sincerity and integrity in treating each other as genuine friends,” he added.

Ouyang highlighted that China’s economy has grown significantly over the past 75 years, with its GDP increasing 1856-fold since 1949.

“China has also taken on a more active role in global affairs,” he added.

He pointed out that by practising an independent foreign policy of peace, China is committed to contributing to global peace and prosperity. Initiatives such as the “Belt and Road” initiative and the “Global Development Initiative” reflect China’s evolving role in global governance.

Besides, Ouyang, along with a choir, performed the song “My Motherland” during the reception. Nearly 1,000 distinguished guests from the political and business sectors of China and Malaysia attended the event.

Also present were Star Media Group group CEO Chan Seng Fatt, Star Media Group chief content officer Datin Paduka Esther Ng, and Bernama chairman and Star Media Group advisor Datuk Seri Wong Chun Wai.