This year marks the 50th anniversary of the establishment of diplomatic relations between China and Malaysia, as well as the “China-Malaysia Friendship Year.” Under the guidance of the “Belt and Road” initiative, economic ties between China and countries around the world have become increasingly close, offering unprecedented opportunities for enterprises to expand overseas.
On the morning of August 9, the “China Jiangsu Service Trade Expo 2024”, hosted by the Jiangsu Provincial Department of Commerce and co-organized by Malaysia Jiangsu Entrepreneurs Business Association, was grandly opened at the Kuala Lumpur Convention Centre. The exhibition’s theme, “Shared Services, Win-Win Trade,” aims to promote development matching and deepen exchanges and mutual learning.
Over 100 guests were invited to the opening ceremony, including YB Liew Chin Tong, Deputy Minister of the Ministry of Investment, Trade and Industry of Malaysia; Sun Shuqiang, Minister-Counselor for Economic and Commercial Affairs at the Chinese Embassy in Malaysia; Jiang Xin, Deputy Director of the Jiangsu Provincial Department of Commerce; Chu Kun, Secretary-General of the Jiangsu Provincial Cultural Industry Association; Tan Sri Dato’ Low Kian Chuan, President of The Associated Chinese Chambers of Commerce and Industry of Malaysia; Loo Kok Seong, President of the Malaysia-China Chamber of Commerce; Sun Jianwei, President of the Malaysia Jiangsu Entrepreneurs Business Association; Datuk Keith Li Zhongping, President of the China Entrepreneurs Association in Malaysia; and Dato’ Dr. Jennifer Low, Director of the Malaysia-China Business Council, among others.
YB Liew Chin Tong emphasized that the China-Malaysia relationship should go beyond traditional investment and trade sectors. Both countries should elevate bilateral relations to a new height of “economic cooperation” to jointly solve economic issues, promote technological integration, and foster cultural exchanges, rather than solely focusing on commercial interests, in order to jointly face the challenges brought about by the new global economic landscape.
Sun Shuqiang highlighted that, in the context of the 50th anniversary of China-Malaysia diplomatic ties, the series of events organized reflect the deep-rooted friendship between the two nations and the growth of bilateral trade, which has increased nearly a thousandfold. He mentioned that “China’s investment in Malaysia’s manufacturing projects has reached nearly 500, with a total investment of 74.2 billion ringgit, creating more than 82,000 jobs in Malaysia.”
He also emphasized that “the economies of both countries are interdependent, becoming important partners. Last year, China’s investment in Malaysia reached 14.5 billion ringgit, maintaining Malaysia’s position as one of China’s top five foreign investment sources.”
Jiang Xin spoke about the deep historical ties and close current relationships between Jiangsu and Malaysia. He noted that Malaysia has become an important partner of Jiangsu along the Belt and Road initiative. “In 2023, the total trade volume between Jiangsu and Malaysia reached 18.3 billion USD, accounting for 14% of China’s total trade with Malaysia. As of 2023, Malaysia has invested 3.2 billion USD in Jiangsu, and Jiangsu has 185 investment projects in Malaysia, with a total investment of 2.1 billion USD.”
Tan Sri Dato’ Low Kian Chuan expressed that Malaysia is Jiangsu’s second-largest trading partner in ASEAN, and both regions are key areas of the Belt and Road initiative. He emphasized the vast potential and broad prospects for cooperation in trade, investment, digital economy, vocational education, traditional Chinese medicine, and other fields, encouraging entrepreneurs from both sides to create a new chapter of friendship during the 50th anniversary of China-Malaysia diplomatic relations.
During the opening ceremony, President Sun Jianwei participated in the launching ceremony.
Picture 1: YB Liew Chin Tong (sixth from the right), Sun Shuqiang (seventh from the left), Jiang Xin (fifth from the right), Tan Sri Dato’ Low Kian Chuan (sixth from the left), Sun Jianwei (second from the right)
President Sun Jianwei, along with the guests, toured the exhibition hall to gain a deeper understanding of the participating Jiangsu enterprises.
Picture 2: YB Liew Chin Tong (Front row, second from the left), President Sun Jianwei (Front row, third from the left)
“This is the second Jiangsu Trade in Services Exhibition. The Malaysia Jiangsu Entrepreneurs Business Association has always been an active participant and promoter of this event, striving to respond to the Belt and Road Initiative and effectively implement its objectives while serving as a vital bridge and platform,” said President Sun Jianwei.
During the exhibition, the Association actively invited industry peers from Malaysia and interested enterprises for early matchmaking, such as the “Traditional Chinese Medicine Service Trade Matchmaking Session.” Although the exhibition lasts only three days, it has created infinite possibilities. With the presence of the Malaysia Jiangsu Entrepreneurs Business Association, industry-specific matchmaking can continue even after the exhibition, further supporting enterprises in their development.
Picture 3: President Sun Jianwei (Left) and Ding Yi, Assistant General Manager of Yanghe International Trade Division (Center), present a souvenir from Jiangsu’s renowned enterprise, Jiangsu Yanghe Distillery Co., Ltd., to YB Liew Chin Tong (Right).
This exhibition brought together more than 160 Jiangsu enterprises in Malaysia, showcasing Jiangsu’s achievements in digital technology and cultural soft power. As the Belt and Road Initiative continues to deepen and global markets further open, Jiangsu enterprises will embrace more opportunities for international development. The Malaysia Jiangsu Entrepreneurs Business Association will also actively respond to the national call, helping hometown enterprises seize the pulse of the global market.
