On November 30, 2023, the Cross-Border Financial Services Promotion Conference (abbreviated as “the conference”) with the theme of “Facilitating China-Malaysia Trade and Investment” was successfully held at the Shangri-La Hotel, Kuala Lumpur, hosted by Embassy of the People’s Republic of China in Malaysia, and co-organized by Bank of China (Malaysia) Bhd, Industrial and Commercial Bank of China (M) Bhd, China Construction Bank (Malaysia) Berhad.
As one of the supporting entities of the conference, the China Enterprises Chamber of Commerce in Malaysia (abbreviated as “CECCM”) was actively involved in the organization and preparation of the conference.
The conference aims to demonstrate the positive progress made by China and Malaysia in deepening cooperation in the field of financial services, provides a platform for financial institutions to better meet the needs of enterprises in cross-border trade and investment, and further promotes a higher level of trade and investment facilitation. The conference attracted nearly 300 guests, including H.E Mr. Ouyang Yujing Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Malaysia, YB Tuan Steven Sim Chee Keong Deputy Minister of Finance of Malaysia, Mr. Sun Shuqiang The Minister Counsellor of The Economic and Commercial Office of The Embassy of the People‘s Republic of China in Malaysia, YBhg. Tan Sri Dato’ Low Kian Chuan YB Senator cum President of ACCCIM, YBhg. Tan Sri Dato’ Soh Thian Lai President of NCCIM, Mr. Zhang Min CEO of Bank Of China (Malaysia) Berhad and President of CECCM, Mr. Xie Shaoxiong CEO of Industrial and Commercial Bank of China (Malaysia) Berhad, Mr. Wang Qijie CEO of China Construction Bank (Malaysia) Berhad, the Representatives of Bank Negara Malaysia, Malaysia External Trade Development Corporation (MATRADE) and Malaysian Investment Development Authority (MIDA), Representatives of Chinese and Malaysian enterprises, business associations and media reporters.
H.E Mr. Ouyang Yujing Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Malaysia said that capital financing is an important support for the high-quality construction of the “Belt and Road” Initiative. Over the past 10 years, the RMB’s functions of cross-border payment, investment and financing, reserve and valuation have been comprehensively enhanced, and it has played an important role in promoting the facilitation of China-Malaysia trade and investment and the development of financial innovation, as well as serving the real economy. He pointed out that China and Malaysia should steadily push forward practical cooperation in financial fields, such as local currency settlement, and promote the high-quality development of capital financing for the joint construction of the “Belt and Road” Initiative.
YB Tuan Steven Sim Chee Keong Deputy Minister of Finance of Malaysia noted that China has been Malaysia’s largest trading partner for 14 consecutive years since 2009. He also mentioned the recently announced China-Malaysia visa waiver program, which is the first of its kind for both countries and is another testament to the good cooperative relationship and joint development between the two countries. Looking ahead, he expects the Malaysia Madani Economic Framework and China-Malaysia Trade Facilitation to continue to drive the development of China-Malaysia friendship and cooperation. He pointed out that the Ministry of Finance hopes to attract investors from all countries, including China, to invest up to RM2 trillion in Malaysia by 2050.
With the opportunity of the conference, under the witness of H.E Mr. Ouyang Yujing Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Malaysia, YB Tuan Steven Sim Chee Keong Deputy Minister of Finance of Malaysia, YBhg. Tan Sri Dato’ Low Kian Chuan YB Senator cum President of ACCCIM and YBhg. Tan Sri Dato’ Soh Thian Lai President of NCCIM, Bank Of China (Malaysia) Berhad and PT Resources Holdings Berhad signed a Memorandum of Understanding (MOU), Industrial and Commercial Bank of China (Malaysia) Berhad and Zhuzhou Kibing Group Co., Ltd. signed a Memorandum of Understanding (MOU), and China Construction Bank (Malaysia) Berhad and Ambank (M) Berhad signed a RMB Clearing and Settlement Agreement.
MOU Signing Ceremony Between Bank Of China (Malaysia) Berhad and PT Resources Holdings Berhad
(From left to right) Representatives of the signing ceremony: Mr. Zhang Min CEO of Bank Of China (Malaysia) Berhad, and Mr. Lai Ji Hwa CFO of PT Resources Holdings Berhad
MOU Signing Ceremony Between Industrial and Commercial Bank of China (Malaysia) Berhad and Zhuzhou Kibing Group Co., Ltd.
(From left to right) Representatives of the signing ceremony: Mr. Xie Shaoxiong CEO of Industrial and Commercial Bank of China (Malaysia) Berhad, and Mr. Liu Jie, Managing Director of Kibing Group (M) Sdn Bhd
RMB Clearing and Settlement Agreement Signing Ceremony Between China Construction Bank (Malaysia) Berhad and Ambank (M) Berhad
(From left to right) Representatives of the signing ceremony: Mr. Wang Qijie CEO of China Construction Bank (Malaysia) Berhad, and Mr. Jamie Ling Fou-Tsong, Group CEO of AmBank Group
Subsequently, the three Chinese banks led in-depth exchanges and hosted three forums covering the three major themes of Thriving for Cross-border Trade Facilitation, Enhancing Cross-Border Investment and Financing Services, and Capital Market Investment Climate and Opportunities. This series of forums aim to deepen China-Malaysia cooperation, promote further facilitation of cross-border trade and investment and financing services, and jointly create a new situation for China-Malaysia economic cooperation.
Forum 1: Thriving for Cross-border Trade Facilitation held by Bank of China (Malaysia) Bhd
Forum 2: Enhancing Cross-Border Investment and Financing Services held by Industrial and Commercial Bank of China (M) Bhd
Forum 3: Capital Market Investment Climate and Opportunities held by China Construction Bank (Malaysia) Berhad
CECCM will continue to play its role as a bridge to facilitate exchanges and cooperation between Chinese and Malaysian enterprises, and to jointly promote the further development of trade and investment facilitation between the two sides. CECCM congratulates the organizers on the success of the briefing and looks forward to continuing to participate in and support similar meaningful events in the future.
