Alibaba Group has opened first office in South-east Asia at UOA Corporate, Kuala Lumpur on June 18 (Photo: www.malaymail.com)
 
Kuala Lumpur (VNA) – Chinese companies have invested at least 1.4 billion ringgit (around 350 million USD) in Malaysia’s bonds and industrial production after the Pakatan Harapan coalition formed the federal government in May.

The fact proved that Chinese companies have had confidence in and supported the new government of Malaysia, Chinese Ambassador to Malaysia Bai Tian said in his speech at Alibaba’s office opening ceremony in Bangsar South on June 18.

He said the China Construction Bank in Malaysia’s decision to purchase 200 million ringgit (50 million USD) worth of bonds from the local bond market was also an example of Chinese companies being upbeat about Malaysia.

Meanwhile, three Chinese companies invested 1.2 billion ringgit in the Southeast Asian country right in the first week after the new Government of Malaysia was established, he said.

According to the ambassador, there remain huge room for China and Malaysia to further promote economic ties in the time ahead.

China was the biggest trade partner of Malaysia with two-way trade reaching 290.65 billion ringgit (72.6 billion USD) in 2017. Bilateral trade in the first five months this year has surged 14.7 percent year-on-year to 170.9 billion ringgit (42.7 billion USD).

However, with priority given to cutting public debts, the Malaysian Government headed by Prime Minister Mahathir Mohamad is reviewing at least two projects worth billions of ringgit, which involved Chinese companies.-VNA