China-Malaysia Bilateral Trade Surges To US$117.52 Bln In First 7 Months Of 2024

Bilateral trade between China and Malaysia surged to US$117.52 billion (US$1 = RM4.30) in the first seven months of 2024, a 10.8% increase compared with the same period last year, said Chinese Ambassador to Malaysia Ouyang Yujing.

Additionally, China's non-financial direct investment in Malaysia grew substantially to US$1.28 billion, marking a year-on-year rise of 28.8%, he said.

During this period, the ambassador said tourist arrivals from China to Malaysia surged to 1.8 million, representing a 160% increase, with nearly 450 flights per week now connecting the two countries, surpassing pre-pandemic levels.

Speaking at a dinner celebrating the 75th anniversary of the founding of the People's Republic of China, Ouyang emphasised that this year marks a historic milestone as China and Malaysia celebrate 50 years of diplomatic relations.

Under the strategic guidance of the leaders of both nations, the construction of the China-Malaysia community with a shared future is making solid progress, he said.

The event was also attended by Transport Minister Anthony Loke Siew Fook, Minister of Tourism, Arts and Culture Datuk Sri Tiong King Sing, Human Resources Minister Steven Sim, Youth and Sports Minister Hannah Yeoh, Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Mokhtar, as well as other diplomats, Chinese community leaders, and business representatives.

Reflecting on the past 50 years, Ouyang said the healthy and stable development of China-Malaysia relations is rooted in mutual respect and trust.

“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 said this transitional period offers an opportunity to draw strength from the past and to write a more brilliant chapter for the future of China-Malaysia relations.