Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Company

China Construction Bank collaboration boosts Malaysian participation in 127th Canton Fair

June 23, 2020


Abstract : China Construction Bank (CCB) signed a Memorandum of Understanding (MoU) with the One Belt One Road Association Malaysia on Monday for small and medium-sized enterprises (SMEs) to participate in the 127th China Import and Export Fair being held virtually for the first time.

KUALA LUMPUR, June 22 (Xinhua) -- China Construction Bank (CCB) signed a Memorandum of Understanding (MoU) with the One Belt One Road Association Malaysia on Monday for small and medium-sized enterprises (SMEs) to participate in the 127th China Import and Export Fair being held virtually for the first time.

In his opening remarks, the association's president and former Malaysian ambassador to China Iskandar Sarudin said that the MoU built upon the close relationship that has grown between the business communities of both countries.

"I am also confident that through our effort and commitment, we will be able to achieve more and to foster closer bond, even stronger relationships and friendship which (is) beneficial mutually between the peoples of Malaysia and China," he said.

As part of the MoU, CCB programs would be promoted to members of the association through cloud conferences and exhibitions related to trade and economics among business communities in Malaysia, China and other countries participating in the China-proposed Belt and Road Initiative (BRI).

CCB will share financial information analysis related to financial markets, economics, investment, as well as utilization of finTech platforms with the association, Iskandar said.

For his part, CCB Malaysia chief executive officer Feng Qi said the import and export Canton Fair 2020 uses cloud technology to feature goods on its website and mobile app, allowing over 600,000 merchants from over 100 participating countries to experience the new online trade and network.

He added that CCB would use the Canton Fair to promote Malaysian SMEs and introduce Chinese businesses while helping to enhance trade between Malaysia and China, between China and Association of Southeast Asian Nations (ASEAN).

"We have innovated new payment methods based on blockchain technology, which will significantly reduce the time to complete cross-border payments in seconds compared with one to days previously," said Feng.

He added that the payment method is offered free for all Malaysian SMEs in the effort to push Malaysia to become the hub for the ASEAN market.

The 127th China Import and Export Fair, popularly known as Canton Fair, kicked off online last week, a first for the decades-old trade fair, in south China's Guangdong Province.

This year's online fair, which will last for 10 days, has attracted around 25,000 enterprises in 16 categories with 1.8 million products.

Founded in 1957, the Canton Fair is seen as an important barometer of China's foreign trade. Enditem

Scan the QR code and push it to your mobile phone

Keyword: CCB Canton Fair China Construction Bank

Reading:

Shanghai North Bund works on headquarters economy, setting new benchmark for development

​China's internet banks embrace favorable policies

INE kicks off trading of low sulfur fuel oil futures contracts Mon.

Explain the Maritime Silk Road

Chinese authorities call for eliminating excess capacity in coal, coal power and steel industries

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial