Malaysia eyes inspiration from China as it seeks economic transformation

by Jonathan Edward, Wang Yi, Mao Pengfei

As this year marks the 50th anniversary of the establishment of diplomatic relations between Malaysia and China, Malaysia expects more Chinese companies to bring experience and technology, promote Malaysia's industrial upgrading, and facilitate closer economic and trade cooperation in the future, a Malaysian official told Xinhua in a recent interview.

Citing his recent visit to China, Malaysian Investment, Trade and Industry Deputy Minister Liew Chin Tong said he was impressed by China's cutting-edge technologies. In the southern Chinese metropolis of Shenzhen, he visited high-tech enterprises and their automated production lines.

"I can see how technology has taken root and how technology has propelled exponential growth in Shenzhen particularly. Shenzhen is an experience that is very worthy of learning for us," said Liew.

China has been Malaysia's largest trading partner for 15 consecutive years and is also one of the major sources of foreign investment for Malaysia. In recent years, Malaysia has introduced a series of policies to promote the upgrading of traditional industries and expand high-value manufacturing industries, thereby enhancing its competitiveness in the global value chain. China-Malaysia cooperation in emerging industries such as digital economy, new energy, and e-commerce has gradually strengthened.

For future bilateral relations, Liew has many expectations. He hopes more Chinese companies will help drive technology development in Malaysia, especially help Malaysia's manufacturing industry achieve automation and digital development, reduce the manufacturing industry's dependence on labor, and increase added value.

Liew said Malaysia's areas of interest also include the green economy, in which China commands a huge lead, especially in electric vehicles and other aspects of mobility including public transport. "China has a lot of experience in mobility. We're happy to work with China on different fronts, and we hope to see that we can really do green transition," he stressed.

Speaking of Malaysia's advantages, Liew noted that Malaysia occupies a middle position in the regional and global industrial chain, upholds neutrality, enjoys a superior geographical location, and is committed to increasing the number of middle-class people in the future. He believes that the economies of Malaysia and China can be complementary and achieve win-win cooperation.

He also expressed hopes that Chinese firms will establish their regional headquarters in Malaysia and in doing so empower Malaysia in its development efforts. "From there, we can build high-end services as well as high-end manufacturing to work together," he said.

In Liew's view, China not only has a sufficient market, but also is a source of new technologies and investments, which will benefit Malaysia's development.