Economy, Investment and Trade
Shenzhen Stock Exchange and Lao Securities Exchange sign MoU
(18 December 2017) The Shenzhen Stock Exchange (SZSE) and Lao Securities Exchange (LSX) signed a memorandum of understanding to deepen their collaboration on information sharing, personnel exchanges, platform construction, market and product development. General Manager of SZSE Wang Jianjun said the MoU was a significant measure taken to implement the “Belt and Road Initiative” and build a “Sino-Laos economic corridor”. In August, the SZSE held an online business roadshow in Lao, which was well received by the domestic investors.
Indonesia keen to strengthen cooperation in tourism with China
(16 December 2017) Indonesia is keen to expand cooperation in tourism with China as Chinese tourists to the country continue to grow. Indonesia expects 3.5 million of the total 17 million foreign tourists to visit Indonesia in 2018 to be from China. Indonesian Minister of Tourism Arief Yahya said that the Ministry of Tourism has been actively promoting Indonesia as a holiday destination by providing more accommodation, Mandarin-speaking guides and supporting more direct flights from China to more cities in Indonesia. As of October this year, Indonesia had received 1.8 million Chinese tourists.
Bilateral trade between China and Malaysia grows by 24 percent
(14 December 2017) Malaysia-China bilateral trade reached US$58.37 (RM 237.96) billion for the first 10 months of this year, up 24.1 percent from US$47.01 (RM191.65) billion in the same period last year. China has remained the largest trading partner for Malaysia for the ninth consecutive year. Dato’ Chu Tee Yong, Deputy Minister of International Trade and Industry Malaysia, said that apart from relying on E&E products, palm oil and other commodities, increasing exports from growing sectors such as food has been the main reason for the growth in Malaysia’s export value to China.
China to drive technology investment across ASEAN
(15 December 2017) There is an increasing demand for new data centers across Southeast Asia developed by big technology firms from China. According to a report by Google and Singapore’s Temasek Holdings Southeast Asia is expected to have 330 million active internet users by the end of 2017. China’s interest is a response to surging demand in Southeast Asia for digital services, including e-commerce, mobile payments and internet access. Alibaba Cloud, opened a data center in Malaysia in late 2017 while its first centre was in Singapore which opened in 2015. Meanwhile, Huawei Technologies announced in November it will invest at least US$10 million next year in a data center in Thailand.
Malaysia, China accelerate diplomacy via marine programme partnership
(16 December 2017) Malaysia and China have further strengthened their “soft diplomacy” through research collaboration in marine science and technology programmes in the South China Sea area. During the 5th China-Southeast Asia Cooperation Forum, Dato’ Dr. Abu Bakar Diah, Malaysia Deputy Minister Of Science, Technology and Innovation said that these efforts have increased not only the understanding of the significant processes in the surrounding sea but also soft diplomacy in building trust and good conduct. The forum was hosted by the State Oceanic Administration of China with the ministry’s support, and jointly organised by University of Malaya and China’s First Institute of Oceanography.