CICC KEEN TO CREATE STRATEGIC FUNDS TO SUPPORT INVESTMENTS

From Massita Ahmad

BEIJING, Nov 7 (Bernama) -- China International Capital Corporation (CICC) has expressed interest in collaborating with Malaysian funds to create strategic funds supporting investments in emerging and high-tech sectors, according to the Prime Minister's Office (PMO). 

It also said both CICC and China Investment Corporation (CIC) shared a strong interest in investing in Malaysia, particularly by facilitating the entry of Chinese companies expanding into Southeast Asia. 

"Prime Minister Datuk Seri Anwar Ibrahim welcomed the prospect of increased Chinese investments and reaffirmed the close trade and economic ties between Malaysia and China. 

"Malaysia has also committed to fostering regional cooperation, underscored by its role in hosting the ASEAN-Gulf Cooperation Council (GCC)+China Summit," said PMO, after Anwar’s business meeting with CICC and CIC this morning in conjunction with his working visit to the capital here.

Also present at the meeting was CIC chairman and chief executive officer Peng Chun; CIC member of executive committee Bao Jianmin, CIC Private Equity Investment Department II Tian Yuan; China Galaxy Securities chairman Wang Sheng and CICC Capital president Long Liang.

Anwar was accompanied by Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz; Foreign Affairs Ministry Deputy Secretary-General Datuk Ahmad Rozlan Abdul Ghani and Malaysian Ambassador to China Datuk Norman Muhamad. 

Malaysia will assume the ASEAN chairmanship next year and will organise the second ASEAN-Gulf Cooperation Council (GCC) summit.

ASEAN leaders will invite China to be part of the ASEAN-GCC meeting for the first time.

Meanwhile, CICC, a Chinese partially state-owned multinational investment management and financial services company, was founded in 1995.

It provides investment banking, securities and investment management services to corporations, institutions and individuals worldwide.

Anwar, who is also the Finance Minister, is on a four-day working visit to China which started on Nov 4.

The visit, extended by Premier Li Qiang, underscores the importance of bilateral relations between Malaysia and China.

China has been Malaysia’s largest trading partner for 15 consecutive years since 2009.

This marks Anwar’s third official visit to China, following his inaugural visit as Prime Minister in March 2023, and a subsequent visit in September.

-- BERNAMA