China-Malaysia trade hit RM740 billion in 2021

China’s ambassador to Malaysia Ouyang Yujing said flagship projects such as the East Coast Rail Link had also proceeded smoothly.


January 26, 2022

KUALA LUMPUR – Total trade volume between China and Malaysia reached US$176.8bil (RM740bil) in 2021, with year-on-year growth of 34.5% amid the battle against the Covid-19 pandemic.

China’s ambassador to Malaysia, Ouyang Yujing (pic), said flagship projects such as the “Two Countries, Twin Parks” and the East Coast Rail Link had also proceeded smoothly.

“The bilateral trade and investment has maintained a good momentum.

“It is fair to say that China-Malaysia friendly cooperation has set a good example for regional cooperation,” he said during an online Chinese New Year 2022 reception hosted by the Chinese Embassy here yesterday.

Ouyang also expressed hope that cooperation between Malaysia and China would scale new heights, while collaboration between both countries would continue to deepen in the post-pandemic era.

“I am looking forward to seeing both countries strengthening synergies between national strategies, seizing opportunities in the post- pandemic era, expanding and enhancing trade and investment cooperation, and further unlocking the full potential in areas including digital economy, green development and high technology.

“I believe this will inject a strong impetus into both countries’ economic recovery and bring more benefits to the people of both countries,” he said in a Bernama report.

He also hoped that China and Malaysia would step up cooperation in procurement, research, development and production of vaccines so that both countries could forge a health shield against any public health crisis in the future.

Ouyang added that although continuous emergence of new variants had posed increasing difficulties in the global fight against Covid-19, he believed the battle could be won.

“I am convinced that as vaccines are being rolled out across the world, as long as we empower ourselves with strong faith, spirit of solidarity and scientific policies, we will finally emerge from the pandemic’s darkest hour and see the bright light of victory,” he said.

Ouyang also noted that China had fulfilled its commitment of making Covid-19 vaccines a global public good.

He said to date, more than 40 million doses of Chinese vaccines had been delivered to Malaysia to help in its fight against Covid-19.

Globally, China had provided over two billion doses of vaccines to over 120 countries as well as international organisations, accounting for one-third of the total number of vaccines administered outside China.

Ouyang said China had also supported Chinese companies in transferring technology to other developing countries and carrying out joint production with 20 countries.

On Asean, Ouyang said China, together with Malaysia and other Asean countries, would work in striving towards common prosperity in the region.

He noted that China and Asean had upgraded their relationship to a Comprehensive Strategic Partnership last year, while the Regional Comprehensive Economic Partnership took effect at the beginning of this year.

“East Asia cooperation ushers in a new stage with new opportunities.

“I hope China, Malaysia and other Asean countries will uphold the Asian values of unity and coordination, and work together for peace, stability, progress and development of the Asia-Pacific region.

“Let us bid farewell to the past and work together for a shared future,” he added.

Chinese worldwide will usher in the Lunar New Year represented by the tiger zodiac sign on Feb 1.

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