China-Malaysia Trade Hits Record US$212.04 Billion in 2024, Strengthening Bilateral Ties
Kuching, The Gulf Observer: China-Malaysia trade volume surged to a historic high of US$212.04 billion in 2024, marking the 16th consecutive year that China has remained Malaysia’s largest trading partner, according to China’s Consul-General in Kuching, Xing Weiping.
Speaking at a Chinese New Year gathering hosted by the United Chinese Association in Sibu on February 1, Xing highlighted the deepening economic and diplomatic relations between the two nations. The event was officiated by Premier Tan Sri Abang Johari Tun Openg.
Visa-Free Policies Boost Travel & Economic Ties
Xing noted that the implementation of visa-free policies has led to a significant increase in Chinese visitors to Malaysia.
“In 2024, the number of Chinese visitors to Malaysia exceeded 3.8 million, more than double that of 2023,” he said.
The extension of visa-free stays for Malaysian citizens to 30 days has further facilitated travel, enhancing people-to-people exchanges and fostering stronger business ties.
Expanding China-Sarawak Cooperation
Beyond trade, China-Sarawak cooperation has expanded into new sectors, including:
- Green energy
- Equipment manufacturing
- Digital economy
- Healthcare
Xing emphasized that Chinese enterprises are increasingly recognizing Sarawak’s development potential and actively seeking investment opportunities.
A key milestone in bilateral cooperation was the first-ever shipment of 20,000 tons of methanol from Bintulu to China, reflecting the growing economic integration between the regions.
Strengthening Cultural & Business Ties
Calling on the Chinese community in Sibu to continue their pioneering spirit, Xing urged them to:
- Promote mutual cooperation
- Spread Chinese culture
- Strengthen bilateral friendships
“While achieving their own development, they will also contribute to building a China-Malaysia community of shared future, leading to the common prosperity of both nations,” he said.
Recalling China President Xi Jinping’s visit to Sibu in 1992, when he was Secretary of the Fuzhou Municipal Committee, Xing highlighted the historical China-Sibu connection—often referred to as the exchange between ‘Big Fuzhou’ and ‘Small Fuzhou (Sibu)’.
He praised Chinese enterprises like Rimbunan Hijau Group and KTS Group for their role in preserving Chinese culture, supporting Chinese education, and running Chinese-language media, which have enhanced Malaysia’s understanding of China and the global landscape.
With strong diplomatic and economic ties, China and Malaysia continue to pave the way for greater regional prosperity and shared development.
