Malaysia-China trade volume at record high of RM443b

Total trade volume between Malaysia and China reached a record high of US$108.6bil (RM443bil) in 2018.

KUALA LUMPUR: Total trade volume between Malaysia and China reached a record high of US$108.6bil (RM443bil) in 2018, with the number of Chinese visitors into Malaysia increasing 29% to 2.94 million last year. 

Malaysia-China Business Council chairman Tan Kok Wai said overall relations between Malaysia and China remain on the right track despite the controversies regarding some local large scale projects in the country. 

“Today, under the circumstances of the ceaseless China-US trade war and the uncertainty of the global economic outlook, we must remain cautious yet optimistic and work diligently in a practical and realistic spirit,” he said in his speech at a Chinese New Year luncheon on Monday. 

Tan added that this year marks the 45th anniversary of the establishment of diplomatic relations between Malaysia and China. 

He said last year’s total trade volume was an increase of 683-times compared with US$1.59bil (RM6.5bil) recorded 45 years ago. 

The luncheon was jointly organised by Malaysia-China Business Council, Bank Of China, Industrial and Commercial Bank of China and China Construction Bank Corp.