31 MOUs inked will deepen M'sia-China growth, say trade groups

“It further signals China’s readi­ness to work closely with regional partners like Malaysia to promote stability and shared prosperity in an increasingly complex global landscape,” he said when contacted yesterday.

ALSO READ: Despite challenges, Malaysia pledges to solidify trust, communication with China

Lauding the MOUs, Soh said it was important to take things beyond just the trade volume and investment ­figures.

“It must focus on co-creating high-value industrial ecosystems that support both countries’ aspirations, aligning Malaysia’s New Industrial Master Plan 2030 (NIMP2030) with China’s innovation-­driven growth agenda,” he said.

Citing significant potential in strategic sectors such as advanced manufacturing, clean and renewable energy, electric mobility, artificial intelligence, biotechnology and smart logistics, Soh said the collaboration would spur both nations to jointly develop high-impact projects and sustainable, value-added supply chains.

He suggested that a more structured bilateral cooperation ­mechanism between both govern­ments and the business community be set up, such as joint innovation hubs and green and digital industrial parks.

ALSO READ: Synergy between two nations

Such an arrangement would further enhance Malaysia as a strategic base for Chinese ­investors to tap into Asean and the regional market via the Regional Comprehensive Econo­mic Part­nership (RCEP) and ACFTA.

Associated Chinese Chambers of Commerce and Industry Malaysia (ACCCIM) treasurer-­general Datuk Koong Lin Loong said the deepening cooperation went beyond China’s Belt and Road Initiative (BRI) as it covered several other key sectors.

He said the upgrading of the Malaysia-China Kuantan Industrial Park (MCKIP) under the “Two Countries, Twin Parks” initiative should also include the setting up of similar parks in other parts of the country.

Koong stated that collaboration aimed at enhancing inspection protocols for items such as fresh coconuts and standardising regulations could facilitate increased agricultural exports to China.

Small and Medium Enterprises Association Malaysia (Samenta) national president Datuk William Ng said the wide-ranging agreements marked a promising new era in Malaysia-China relations.

“I see this as a pivotal moment for Malaysian businesses, especially our SMEs. The sectors identified in the MOUs reflect where the future of trade and industry is heading,” he said.

Ng said the benefits of the strategic partnerships must be inclusive and accessible to local SMEs, which he said made up over 97% of Malaysian businesses.

“We welcome these MOUs, and we want to see them benefit the SMEs and the rakyat and not just a select group of GLCs,” he added.

Ng proposed the creation of downstream programmes to enable SMEs to engage in key sectors through joint ventures, vendor development, or technology adoption.

ALSO READ: Influencer economy can be key to further growth

He said the collaboration should see Chinese companies helping local SMEs tap into the Chinese market via cross-border digital platforms, especially those operated by Chinese tech firms.

Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai said the MOUs showed a clear intent by both nations to work together in bringing prosperity to their people.

“Among the key areas of cooperation is the adoption of AI and e-commerce, where China is a global leader. If we can adopt their approach, we can accelerate the digitisation of government and the implementation of a more comprehensive digital economy for the nation,” he said.

Wong said that Malaysia would also benefit from the collaboration between the leading universities of both nations, particularly in relation to emerging technologies.

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Malaysia will be China’s friend at all times, 31 MOUs inked in ‘new golden era’

May the Ship of China-Malaysia Friendship Sail Toward an Even Brighter Future

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Malaysia will be China’s friend at all times, 31 MOUs inked in ‘new golden era’

PUTRAJAYA: Malaysia will remain an unwavering and principled friend to China during “moments of triumph and times of trial”, says Datuk Seri Anwar Ibrahim

The Prime Minister said Malaysia and China have long stood shoulder to shoulder – not merely as comprehensive strategic partners, but as steadfast friends.

“Malaysia values this consistency. Malaysia will remain an unwavering and principled friend to China, guided by the wisdom of history and the promise of the future,” he said in a speech during the official dinner in honour of President Xi Jinping last night.

At a time when multilateralism is under tremendous strain, as certain nations abandon the principle of shared responsibility and others question long-standing commitments, Anwar said China’s global initiatives seem to offer a new lease on hope. 

“What we are witnessing today is not an honest reckoning with the imperfections of globalisation, but a retreat into economic tribalism. 

“Market access is being wea­ponised. What was once a multilateral covenant for shared growth now buckles under the weight of arbitrary disruption and unilateral whim.

“Amid this turbulence, China has been a rational, strong and reliable partner,” he said

Anwar said Malaysia’s foreign policy was shaped by a “clear-eyed” vision of its interest and the principle of Asean centrality.

“We do not simply favour coope­ration over confrontation (but) we embrace it. We do not merely prefer respect over rivalry, we uphold it.

“And we choose dialogue, not simply because it chose us, but as a cornerstone of lasting peace and prosperity,” he said.

The Prime Minister said that during these trying times, the world yearns for steadiness, reliability and purpose.

“We see this in China’s conduct. Malaysia acknowledges such steadiness with quiet recognition and remains conscious not only of the calm it has brought, but of the hope it may continue to offer,” said Anwar.

He said under the leadership of Xi, China has outlined a series of global initiatives that reflect a distinctive worldview.

He said the Belt and Road Initiative reimagines connectivity not as a network of roads and rails, but as a framework for cooperation.

“The Global Development Initiative underscores the importance of inclusive progress.

“The Global Security Initiative calls for peace through dialogue,” he said.

“Each of these ideas reflects a broader aspiration of what President Xi has described as a community with a shared future for mankind. 

“This brings to mind the famous saying of Confucius, that ‘within the four seas, all men are brothers’,” added Anwar, who said the phrase in Chinese.

He said he also hoped that Malaysia and China would endure a long-lasting relationship.

• 31 MOUs inked in ‘new golden era’

Malaysia and China deepen partnership with major deals on trade, tech and tourism

PUTRAJAYA: Malaysia and China have signed 31 memoranda of understanding (MOUs), notes and cooperation agreements with the highlight being a mutual visa exemption for travellers between the two countries.

Currently, Malaysians can tra­vel to China visa-free until Dec 31 this year, while Chinese nationals enjoy visa-free travel to Malaysia until Dec 31 next year.

The exemption was in conjunction with the 50th anniversary of diplomatic relations between Malaysia and China.

Other strategic areas of coope­ration include security, development, trade, transport, agriculture, education and digital technology.

The exchange of documents, which took place at the Seri Perdana Complex yesterday, was witnessed by Prime Minister Datuk Seri Anwar Ibrahim and Chinese President Xi Jinping.

Among the key agreements signed with ministries and agencies is one concerning giant pandas, comprising an MOU on the Cooperative Research Agreement for the International Conservation of Giant Pandas.

Strategic talks: Anwar and Xi with their delegates during a bilateral meeting at the Seri Perdana Complex in Putrajaya. — AZHAR MAHFOF/The Star

Additionally, under the Invest­ment, Trade and Industry Minis­try, three MOUs were signed, including one aimed at upgrading the China-Malaysia “Two Coun­tries, Twin Parks” initiative.

Also, three MOUs were inked under the Tourism, Arts and Culture Ministry, including tourism and media cooperation between Xinhua News Agency from China and Malaysia Tourism Promotion Board.

There was also an exchange of notes between China and Malay­sia on the establishment of a joint foreign and defence dialogue.

Under the Transport Ministry, Malaysia and China signed an MOU between the National Railway Administration of China and the Transport Ministry to strengthen cooperation in the railway sector.

Meanwhile, the Digital Ministry and China’s National Develop­ment and Reform Commission inked an MOU on the digital economy, while the Domestic Trade and Cost of Living Ministry signed an agreement on cooperation in the field of intellectual property.

Several MOUs were also signed with media groups and universities, including one on bilateral cooperation between China’s People’s Daily and Star Media Group Bhd.

At the start of a bilateral mee­ting, Anwar remarked that Malaysia remains committed to working together with China in various areas, including economy, trade, and emerging technologies such as artificial intelligence.

The Prime Minister stated that China is not only a close neighbour but also an important partner through the comprehensive strategic partnership, which reflects the deep trust and long-­standing cooperation between the two nations.

Toasting ties: Anwar and Xi attending the official dinner in honour of the Chinese President at the Seri Perdana Complex. — Bernama

Recalling his previous visit to China, Anwar said: “As I have said to you when we met in China, President Xi exemplifies a new type of persona, a leader who talks about growth and investment and economic advancement.

“He also talks about eliminating poverty and has proven his success, more importantly about shared prosperity and civilisation, which is hardly expressed by any modern leader in this world.

“We admire your tenacity and for that Malaysians welcome you, President Xi, not only as president of a great country, the President of China, but as a true friend.”

In his remarks, Xi announced a bold and shared vision for the future of China-Malaysia relations, pledging to elevate the partnership to unprecedented strategic heights.

He said both countries are committed to forging an even stronger bond, promising mutual benefits and enhanced regional prosperity.

“This marks my return to Malaysia after 12 years, during which the nation has achieved remarkable progress in its develop­ment.

“Your Madani government is steadily becoming a promising reality, and I extend my heartfelt congratulations,” he said.

Xi recalled the pivotal establishment of diplomatic relations between China and Malaysia over five decades ago, which defied the tensions of the Cold War.

He also highlighted the solida­rity exhibited by both nations during the Covid-19 pandemic.

“Today, our two countries are working in unity to jointly build a community with a shared future. China-Malaysia relations are now entering a new golden era,” he said

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Trump tariffs pile stress on ailing world economy; China to impose tariffs of 34% on all US goods from April 10

US President Donald Trump. — Reuters

The latest round of US trade tariffs unveiled on Wednesday will sap yet more vigour from a world economy barely recovered from the post-pandemic inflation surge, weighed down by record debt and unnerved by geopolitical strife.

Depending on how President Donald Trump and leaders of other nations proceed now, it may also go down as a turning point for a globalised system which until now had taken for granted the strength and reliability of America, its largest component.

“Trump’s tariffs carry the risk of destroying the global free-trade order the United States itself has spear-headed since the Second World War,” said Takahide Kiuchi, chief economist at Nomura Research Institute.

But in coming months it will be the plain and simple price-hiking – and therefore demand-dampening – effects of new levies applied to thousands of goods bought and sold by consumers and businesses across the planet that will prevail.

“I see it as a drift of the US and global economy towards worse performance, more uncertainty and possibly heading towards something we could call a global recession,” said Antonio Fatas, macroeconomist at the Insead business school in France.

“We are moving into a world which is worse for everyone because it is more inefficient,” said Fatas, who has acted as a consultant for the International Monetary Fund (IMF) and World Bank.

Speaking in the White House Rose Garden, Trump said he would impose a 10% baseline tariff on all imports and held up a chart showing higher duties on some of the country’s biggest trading partners, including 34% on China and 20% on the European Union.

A 25% auto and auto-parts tariff was confirmed earlier.

Trump said the tariffs would return strategically vital manufacturing capabilities to the United States.

Under the new global levies imposed by Trump, the US tariff rate on all imports jumped to 22% – a rate last seen around 1910 – from just 2.5% last year, said Olu Sonola, head of US economic research at Fitch Ratings.

“This is a game changer, not only for the US economy but for the global economy,” Sonola said. “Many countries will likely end up in a recession.”

IMF managing director Kristalina Georgieva told a Reuters event this week she did not see global recession for now.

She added the IMF expected shortly to make a small downward “correction” to its forecast of 3.3% global growth this year.

Different impact

But the impact on national economies is set to diverge widely, given the spectrum of tariffs ranging from 10% for Britain to 49% to Cambodia.

If the result is a wider trade war, that would have even larger repercussions for producers like China, which would be left hunting for new markets in the face of wilting consumer demand across the globe.

And if the tariffs push the United States itself towards recession, that will weigh heavily on developing countries whose fortunes are closely tied to those of the world’s largest economy.

“What happens in the United States doesn’t stay in the United States,” said Barry Eichengreen, professor of economics and political science at the University of California, Berkeley.

“The economy is too big and too connected to the rest of the world via trade and capital flows for the rest of the world to be unaffected.”

The knock-on effects for policy-makers in central banks and governments are also potentially large.

An unravelling of the supply chains which for years kept a lid on prices for consumers could lead to a world in which inflation tends to run “hotter” than the 2% which central bankers currently agree is a manageable target to aim for.

That would complicate decisions for the Bank of Japan, which may face pressure to combat too-high inflation with more interest rate hikes just as its major counterparts eye cuts, and as its export-reliant economy takes a hit from US duties.

Auto exporters Japan, hit with a 24% reciprocal tariff rate, and South Korea, which was imposed a 25% rate, have signalled plans to take emergency measures to support businesses hit by the higher US levies.

Economies with weaker output growth would leave governments struggling even more to pay down the world’s record US$318 trillion debt load and find money for budget priorities ranging from defence spending to climate action and welfare.

And what if the tariffs do not bring about Trump’s oft-stated goal of encouraging business to invest in domestic US manufacturing, given the domestic labour shortages already facing a country with close to full employment?

Some see him seeking other ways to remove the US global trade deficit that riles him so much – for example by demanding that others join in a re-balancing of foreign exchange rates to the advantage of US exporters.

Risky moves

“We are going to continue to see him putting out there potentially more risky ways of dealing with the continuous strength of the US dollar,” said Freya Beamish, chief economist at investment strategy firm TS Lombard.

Such moves could jeopardise the privileged position of the US dollar as the world reserve currency of choice – an outcome few predict, if only because there are for now no real alternatives to the US dollar.

Nonetheless, European Central Bank president Christine Lagarde on Wednesday told an event in Ireland that Europe needed to act now and accelerate economic reforms to compete in what she called an “inverted world”.

“Everyone benefited from a hegemon, the United States, that was committed to a multilateral, rules-based order,” she said of the post-Cold War era of low inflation and growing trade in an open global economy.

“Today we must contend with closure, fragmentation and uncertainty.” — Reuters

Mark John, Francesco Canepa and Leika Kihara write for Reuters. The views expressed here are the writers’ own.

China to impose tariffs of 34% on all US goods from April 10

The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo

BEIJING: China on Friday announced a slew of additional tariffs and restrictions against U.S. goods as a countermeasure to sweeping tariffs imposed by U.S. President Donald Trump.

The Finance Ministry said it would impose additional tariffs of 34% on all U.S. goods from April 10.

Beijing also announced controls on exports of medium and heavy rare-earths, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium to the United States, effective April 4.

"The purpose of the Chinese government's implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests, and to fulfill international obligations such as non-proliferation," the Commerce Ministry said in a statement.

It also added 11 entities to the "unreliable entity" list, which allows Beijing to take punitive actions against foreign entities. - Reuters 

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2025 could be the year when Chinese tech firms stun the world: NPC deputy

 Two UBTECH’s industrial humanoid robots, Walker S1, handle payload bins at a factory on March 2, 2025. Photo: Courtesy of UBTECH

Entering 2025, China’s science and technology sector has shown a strong momentum of rapid development, demonstrated by DeepSeek's breakthrough in the field of artificial intelligence (AI) large language models, the growing intelligence shown by UniTree Robotics' humanoid robots, and the global sensation sparked by China's sixth-generation fighters. 

These achievements are just the beginning, and more scientific and technological breakthroughs will emerge. China has strong advantages in research and development (R&D), backed up by its talent reserve and policy support, among other favorable factors.

According to a global survey done by KeSkt CNC in 2021, responders from many countries including the US, the EU members and the UK, all agree that China will be far ahead of the US and the EU in tech innovation in the next 50 years. 

Now, China has made remarkable achievements in innovation, and the gap with the world's leading players has been constantly narrowing, with China already holding the front-runner position in some fields. 

Specifically, the attainments could be manifested in the following aspects. First, in terms of AI, big model technology is set to achieve greater breakthroughs, as the models performance at leading Chinese enterprises will continue to improve and reach the internationally leading level, and as the large model training will shift from seeking expansion in scale to prioritizing efficiency. 

In 2025, China's computing power will grow rapidly. According to a report by IDC，China's intelligent computing power scale is expected to reach 1,037.3 EFLOPS (exa floating-point operations per second) this year, an increase of 43 percent over 2024. 

Zhang Shuibo Photo: Courtesy of Zhang Shuibo

AI is expected to be able to empower a barrage of sectors from medical diagnosis to autonomous driving, and generative AI will be extensively incorporated in marketing, risk control, smart manufacturing and more. 

Second, in new energy transition, China’s battery technology may continue to witness further improvement – CATL's mass produced solid-state battery achieved an energy density of 500 watt-hour per kilogram; BYD's sodium-ion battery pushed down the cost to 0.3 yuan ($0.04) per watt-hour and Honeycomb Energy's short-blade battery realized a range of more than 600 kilometers after 10 minutes of fast charging. The same can be said for photovoltaic technology. LONGi Green Energy's 42.8-percent crystalline silicon-perovskite tandem solar cell efficiency has set a new world record. GCL Technology's 10 gigawatts perovskite module base is already put into production, with the cost per watt falling below 0.8 yuan.

Wind power may further move to the deep sea. Mingyang Smart Energy has launched an 18-megawatt offshore wind turbine, equipped with the world's first integrated floating platform featuring wind power/marine ranch/hydrogen production. Goldwind Science and Technology’s "smart wind farm" based on China’s homegrown BeiDou navigation system has increased power generation efficiency by more than 25 percent.

Third, regarding intelligent manufacturing, there will be more smart-manufacturing demonstration plants. 
It is reported that this year, China will strive to build more than 500 smart-manufacturing demonstration plants that will lead the development of the industry and accelerate the transformation of traditional industries from old to new drivers. The industrial high-speed mobile internet will continue to be upgraded, with its platform being constantly optimized to achieve more extensive equipment interconnection and data sharing, promoting intelligent, flexible and services-based transformation of the whole manufacturing sector.

The continuous enhancement of China's scientific and technological innovation has laid a solid foundation for Chinese companies to provide cost-effective and high-quality products in multiple manufacturing and services fields, which will make Chinese companies more competitive in the global market place. In this sense, 2025 could indeed be the year when many Chinese technology companies stun the world.

Zhang Shuibo is an NPC deputy and a professor at the College of Management and Economics of Tianjin University

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China Advances To Second Place In Global Soft Power Ranking – OpEd

China has overtaken the UK to secure 2nd place globally, advancing one position from the previous year … in the Global Soft Power Index 2025.

The latest report of the Global Soft Power Index for 2025 by influential brand valuation consultancy, Brand Finance, highlights the remarkable progress of China in its index ranking the extent of power and influence in world politics and international relations wielded by countries of the world. It now sits at second place behind the US which, although ranking first, has seen its soft power standing undermined by global concerns of its political stability, reputation and governance.

The Global Soft Power Index report is based primarily on key indicators in economics and business. It also measures attributes related to culture and heritage, media and  communication, education and science and sustainability. These together are increasingly seen as the other more influential and effective side of the power coin as compared with the flip side of hard power associated with military power and intervention, coercive diplomacy and economic sanction. 

The report notes that China retains first place globally for ‘ease to do business in and with’ and ‘future growth potential’ attributes for the last four years consecutively. This is a picture quite different to the one of ‘China collapsing’ and ‘China in economic crisis’ regularly featured in western mainstream media and reproduced by supporting Asian media.

What is also notable is that China has soared to 7th place in the ranking of ‘culture and heritage’ and ‘media and communication’ attributes. This trend is strengthening with the further opening up of the country to foreign visitors and the global impact of the movie, Ne Zhe2 (NZ2) and Deep Seek, the artificial intelligence app.

The impact of NZ2 and Deep Seek  in their respective fields has been such that western media leaders such as CNN, BBC and New York Times that regularly engage in anti-China reporting, as well as have ignored or marginalized Chinese achievements, have been reluctantly aroused to run stories on them, albeit with their mandatory negative comments. Meanwhile, missing from the mainstream media coverage is India’s decline from the 29th position in 2024 to its current 30th position in 2025.

Ne Zha2 Global Movie Megahit

Ne Zha2 (NZ2), the latest China produced animation film hit with its story line of family, friendship, loyalty and sacrifice encapsulated within a framework of Chinese mythology and techno wizardry has captivated movie audiences wherever it has been shown and is expected to generate more than US$2 billion in box office takings. This will make it the highest ranking box office animated film in the world. 

What’s appealing to movie fans, especially American audiences viewing it in the small number of cinemas it is showing – 300 of 9595 movie theatres – are not just the universal themes of courage and resilience but also the absence of messages relating to wokeness, political correctness, and attitude. 

Unlike in the West, where cultural dominance has been tied to colonial conquest and expansion, religion and political dominance, this example of film making and cultural influence is different. In today’s high-tech era, films like NZ2 demonstrate how technology, storytelling and cultural heritage can converge to create a new filmmaking and culture dissemination model rooted in non ideological equality and dialogue rather than the legacy western model with its message of white, Christian and ideological goodness, superiority and supremacy.

Movie audiences are no strangers to mythology-based storytelling. However, Chinese and other non-western mythology and story lines have been underexplored in the global entertainment world despite their rich history and universal themes. This is not only due to cultural and historical differences. It is more importantly an outcome of American dominance in the development of the movie industry since the early 20th century.

Hollywood – with US government support – has dominated the world box office for more than a century and helped to shape how audiences in Europe, Asia, Africa and Latin America view the US and the world. Whilst this continues today, the success of Ne Zha and its sequel should encourage small countries in their cultural confidence and ability to tell their own stories. This will impact their soft power influence and ranking among the countries of the world.

Deep Seek: Sputnik Moment and Bombshell Impact 

NZ2 comes on the heels of Deep Seek with the latter emerging like a bombshell in app stores around the world. As the most downloaded AI app, replacing Chat GPT, the Chinese AI model has significantly impacted the global tech industry by its cost-effective low budget development. This has caused major tech stocks to plummet and raised questions about the shifting power dynamics in the AI market. Many now see China as a major player in AI development that can challenge western AI apps presently dominating the market and tech giants such as Microsoft and Google.

What’s important to the estimated 5 billion smartphone users in the world – they account for over 60% of the world’s population – is not that it is a Chinese app but that it is free. For those using it, Deep Seek has pioneered and opened the door to an open source app that can be used and modified easily and without the need to pay a fee or royalty.

Deep Seek and NZ2 are not the only examples of China’s growing soft power in the world. They follow Huawei, BYD, TikTok, Red Note and other recent China innovations and products developed entirely or mainly with homegrown talent whose ripple effects are affecting and undermining US and western domination of the existing world order.

How will Trump’s MAGA Impact Global Power Balance

Perhaps the greatest asset to China’s influence in the world for now comes from an unlikely source – President Donald Trump. As the world’s greatest political influencer and news maker, Trump in his mission to make America great again has embarked on a foreign policy campaign that has made allies of the US realize that their client status makes it inevitable that their interests will be placed on the sacrificial table if they stand in the way of Trump’s redefinition of American hard and soft power, and the ensuing relations with Russia, China or any other adversary. 

This, combined with China’s burgeoning soft power achievements, and Belt and Road Initiative with its emphasis on economic development and regional connectivity to bring about shared prosperity, will result in the more rapid remaking of the current world order to a more equitable and inclusive

Lim Teck Ghee

Lim Teck Ghee PhD is a Malaysian economic historian, policy analyst and public intellectual whose career has straddled academia, civil society organisations and international development agencies. He has a regular column, Another Take, in The Sun, a Malaysian daily; and is author of Challenging the Status Quo in Malaysia.

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