GEORGE TOWN (Jan 22): China is ready to collaborate with Malaysia to promote East Asian cooperation and regional economic integration during Malaysia’s Asean chairmanship 2025, China’s Consul-General in Penang, Zhou Youbin, said. 

He stated that China is also willing to work with Malaysia to maintain the trend of regional development cooperation and contribute to regional and global peace and stability.

“The Chinese Consulate General in Penang will continue to deepen the cooperation with the governments and all walks of life of the four states in the consular district and promote steady development of local cooperation between China and Malaysia.

“The Chinese Consulate General in Penang also make unremitting efforts to build a China-Malaysia Community with a shared future,” he said during the Consulate General’s Chinese New Year Dinner 2025 held here on Tuesday night.

Zhou also highlighted that Penang, Kedah, Perlis, and Perak have witnessed continuous bilateral economic and trade cooperation, which has also bolstered local economic growth.

Meanwhile, Penang Chief Minister Chow Kon Yeow affirmed the state’s commitment to regional priorities under Asean 2025.

“We bear significant responsibility in reshaping Asean and emphasising its principle of centrality. As a state, we are dedicated to fostering collaborations, cross-cultural exchanges, and advancing economic initiatives,” he said.

Chow added that Penang continues to play a pivotal role in fostering strong bilateral relations between Malaysia and China, serving as a key hub for economic, cultural, and tourism exchanges.

“Over the past 10 years (2014-2023), the state has attracted RM13.2 billion [6.8% of Penang’s total FDI (foreign direct investment)] in approved manufacturing investments from China, with a compound annual growth rate (CAGR) of 50.5%.

“From January to June last year, approved manufacturing investments from China amounted to RM411.8 million. To date, Penang hosts 53 Chinese companies; 46 in manufacturing, five in Global Business Services (GBS), and two in logistics,” he added.

China is Malaysia’s largest trading partner and a major FDI source. China’s investment in Malaysia surged to RM10.8 billion from January to September 2024, making it the second-largest foreign investor in Malaysia.

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