China, Malaysia witness milestones of industrial development

On the occasion of the 50th anniversary of the establishment of diplomatic relations between China and Malaysia, the Fifth Joint Cooperation Council Meeting on China-Malaysia, "Two Countries, Twin Parks", was held on April 23 in Qinzhou, Guangxi Zhuang autonomous region.

Both China and Malaysia have implemented the critical consensus reached by the leaders of the two countries on building a China-Malaysia community of a shared future.

They affirmed the positive achievements in the construction of the Qinzhou Industrial Park in China and the Kuantan Industrial Park in Malaysia. They agreed to strengthen cooperation to promote the higher-level and higher-quality development of the "Two Countries, Twin Parks" initiative.

A significant number of 249 projects have been signed in the Qinzhou Industrial Park in the Qinzhou Port area of China (Guangxi) Pilot Free Trade Zone. These projects have generated an accumulated fixed asset investment of approximately 29.5 billion yuan ($4 billion) and a total industrial output value of 93.8 billion yuan.

This has led to the development of industries focusing on processing and trading ASEAN-characteristic products such as biopharmaceuticals, electronic information, new energy materials, bird's nests, durians, and palm oil.

As for the Kuantan Industrial Park, 13 projects have been signed, with accumulated investments exceeding 44 billion yuan and an industrial output value surpassing 60 billion yuan.

The Fifth Joint Cooperation Council Meeting on China-Malaysia "Two Countries, Twin Parks" is held in Qinzhou. [Photo/WeChat account: gh_df8bc987e060]