Latest news with #China-Asean
Sinar Daily
10-06-2025
- Business
- Sinar Daily
Asean-GCC-China Summit: A new chapter in Global South cooperation
This gathering marks yet another step forward in Global South cooperation, with implications for both regional development and global growth. By HUI FAN 10 Jun 2025 05:43pm Amid growing trade tensions and rise in protectionist policies on the international landscape, the inaugural Asean-GCC-China Summit, hosted under Malaysia's Asean chairmanship for 2025, has drawn significant international attention. - BERNAMA FILE PIX Amid growing trade tensions and rise in protectionist policies on the international landscape, the inaugural Asean-GCC-China Summit, hosted under Malaysia's Asean chairmanship for 2025, has drawn significant international attention. This gathering marks yet another step forward in Global South cooperation, with implications for both regional development and global growth. Foundations for partnership The three parties share deep historical and economic ties. Centuries ago, the Silk Road facilitated cultural and commercial exchanges among their peoples. Today, China remains a pivotal trade partner for both Asean and the GCC. Recent advancements, such as the full conclusion of China-Asean Free Trade Area 3.0 negotiations, underscore ongoing efforts to deepen economic integration. These longstanding relationships, nurtured through bilateral and multilateral frameworks, provide a robust foundation for expanded cooperation. Shared vision for inclusive growth As advocates for open markets, the three parties reaffirmed their commitment to multilateralism during the summit. The event highlighted a shift in Global South nations from passive participants to proactive contributors in shaping international economic frameworks. Discussions underscored the importance of a rules-based global trading system, one that prioritises equitable development over zero-sum competition. This vision aligns with broader calls for inclusive globalisation that benefits all. Complementary strengths Each region brings unique advantages to the table: Asean's youthful demographics and natural resources, the GCC's energy resources and financial capital, and China's vast consumer market and manufacturing prowess. By leveraging these complementary strengths, the partners will benefit from reduced energy and resource costs, accelerated logistics, and more efficient financial services. These synergies will enhance all three parties' competitiveness and resilience while enabling more secure and sustainable development, which are indispensable for navigating challenges in today's volatile global markets and maintaining growth amidst trade uncertainties. Amid growing trade tensions and rise in protectionist policies on the international landscape, the inaugural Asean-GCC-China Summit, hosted under Malaysia's Asean chairmanship for 2025, has drawn significant international attention. - BERNAMA FILE PIX Synergy in scale: 1+1+1>3 The trilateral cooperation has already registered positive progress. Chinese Premier Li Qiang announced at the Summit that China has decided to offer five-year multiple-entry visas to eligible applicants from Southeast Asian countries for business and other purposes, and to effectively give all GCC countries visa-free status. And with a regional business council in conception, the three parties have charted a united course for cooperation in areas including economic integration, connectivity, energy security and sustainability, digital transformation and innovation, food and agriculture and people-to-people exchanges. Collectively, Asean, China and the GCC account for nearly a quarter of the world's population and global GDP. Their collaboration signals a growing preference for cooperative and open regionalism in addressing shared challenges, such as trade disputes and supply chain disruptions. By improving infrastructure connectivity and streamlining trade, this partnership could foster synergies that multiply rather than simply add their individual strengths. A model for South-South cooperation Amid ongoing tariff and trade wars, the best way to navigate the current difficulties is to seek strength through unity. Through the practice of cross-regional cooperation, the three parties have demonstrated that the Global South can collectively counteract the adverse impact of unilateral tariffs by exploring new trade and investment opportunities, diversifying trade partners, and reducing reliance on traditional markets. The three parties' connected market, one of the world's largest intra-regional markets, will also allow other countries to share more benefits, and inject much-needed certainty into the global economy. By pooling together the three important forces in the world, this innovative, inclusive and pragmatic model represents a shared commitment to the rules-based multilateral trading system with the WTO at its core, and marks a concrete step toward a peaceful, prosperous and equitable future. A powerful boost to globalisation In an era of interconnected economies and shared global challenges, globalisation retains its transformative potential—but only if nations choose collaboration over isolation. As an innovative cooperation mechanism among Global South partners, the Asean-GCC-China Summit demonstrates how diverse regions can align interests to strengthen multilateral frameworks and advance equitable trade. The Summit's success sends a clear message: Solidarity doesn't require uniformity. It thrives when nations bridge divergences through structured cooperation. By prioritising dialogue and economic interdependence, countries can transform differences into opportunities while fostering shared progress. In an uncertain world, such collaboration isn't just idealistic—it's the cornerstone of collective resilience and a more equitable future. Hui Fan is a Beijing-based observer of international affairs. The views expressed in this article are her own and do not necessarily reflect those of Sinar Daily.
RTHK
06-06-2025
- Business
- RTHK
Youths 'can bridge AI gap between Global South, North'
Youths 'can bridge AI gap between Global South, North' Boao Forum for Asia secretary general Zhang Jun, right, says artificial intelligence development gaps will fuel further digital divisions. Photo: RTHK Participants at the forum at the Convention and Exhibition Centre said access and skills for youths and young entrepreneurs posed challenges for their economies. Photo: RTHK Boao Forum for Asia secretary general Zhang Jun said on Friday youths play a key role in bridging the artificial intelligence development gap between the Global South and Global North. He made the remarks as the International Science, Technology and Innovation Forum of the Boao Forum made its debut in Hong Kong, with previous editions held in Macau, Zhuhai and Guangzhou. Speaking at a roundtable session, Zhang, who served as a permanent representative of China to the United Nations, said the digital divide, which includes AI development gaps, will further weigh on global fragmentation. He called on youths to help forge global collaboration to tackle such challenges. "Youths have a key role... in really trust-building, partnership-building, which is also badly needed in today's world, because we are more divided than [at any time] after the end of the Second World War. "And we are living in a world which is becoming very much dangerous because of the failure of the international governance system, including the United Nations," Zhang said. Many of the forum's participants pointed out challenges encountered during their countries' own digital transformation, especially with access and skills for youths and young entrepreneurs. Many said it's essential to ramp up digital literacy training and partnerships between nations. Mimala Chanthasone, an official of the Institute of Foreign Affairs in Laos, cited the China-Laos AI Innovation Cooperation Centre as an example. Launched in February, she said the centre marks the first China-Asean AI innovation cooperation. Conrad Ho, a member of the Youth Development Commission, called for more efforts to be made to address the employability gap created by the emergence of AI technology. "The post-AI world presents many challenges and also opportunities, including how youth might gain more senior-level skills as AI reduces the demand for entry-level and middle-management roles," he said. "I think as AI unlocks more capacity, we're going to transition from [having more] large corporations to smaller ventures, one-person teams, smaller teams that can still create very massive value. "And yet for all these companies, for them to be successful, the founders still need to have the critical hard and soft skills that they need to learn." The two-day innovation forum ends on Saturday.
The Sun
03-06-2025
- Business
- The Sun
CGS, CGS International sign pacts for Asean-China business partnerships at Asean Business Forum 2025
KUALA LUMPUR: China Galaxy Securities Co Ltd (CGS) and CGS International Securities Group signed five strategic memorandums of understanding (MoUs) and one letter of intent (LoI), with top corporations, development partners and investment managers across Asean and China on May 29. These landmark agreements were signed at the inaugural Asean Business Forum 2025 (ABF2025) and witnessed by Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid on behalf of Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Securities Commission Malaysia (SC) executive chairman Datuk Mohammad Faiz Azmi, Asean Business Advisory Council (Asean-BAC) Malaysia chairman Tan Sri Nazir Razak and CGS chairman Wang Sheng. They aim to promote the growth of the Asean region as an integrated and cohesive regional economic powerhouse, deepen cross-border collaboration and accelerate capital flows across high-growth sectors. The signings reflect growing confidence in Asean's long-term growth prospects and the role of Malaysia – under its Asean chairmanship – to facilitate China-Asean and intra-Asean business and capital flows. Spanning access, private equity and investment in solutions for technology, healthcare, industrial development, investment promotion and wealth management family-office facilitation, the agreements reflect CGS and CGS International's broader mission and capability to bridge capital and opportunities within the region. These signings also build on their commitment made during the Johor-Singapore Special Economic Zone Partners' Dialogue on May 19, where CGS International committed to a target of RM6 billion – comprising RM3 billion in facilitation of foreign direct investment within three years and RM3 billion in assets under management in the establishment of single family office ventures. The signing parties and scope of partnerships of the LoI and the MoUs signed by CGS and CGS International include: • LoI for China-Asean Investment Programme – Establish a private equity fund to invest in high growth sectors such as healthcare/medical devices, semiconductor, advanced manufacturing, renewable energy, agriculture/food security and consumers throughout Asean with Malaysia as a key regional anchor and to facilitate the transfer of industry knowledge and technology from China to Asean. ARROW -- MoU with Mida to jointly promote Malaysia as an investment hub, support investor facilitation and collaborate on fundraising, business matching and supply chain development for high-value industries. ARROW -- MoU with Fullgoal Asset Management (HK) Limited (Fullgoal HK) and Bursa Malaysia Bhd. Fullgoal HK and CGS International will jointly list exchange-traded funds on Bursa Malaysia, with the aim to provide Malaysian investors with access to a wider range of investment options, and exposure to global markets. ARROW -- MoU with GL Capital Management Limited to jintly establish a closed-end private equity fund dedicated to healthcare/medical devices sector in Asean to tap its high growth opportunities. ARROW -- MoU with OCBC Bank (Malaysia) Bhd to jointly facilitate China and Asean trade and investment flows by supporting regional clients with banking, treasury and investment banking services. ARROW -- MoU with Zhongguancun International Holding Limited (Hong Kong) to facilitate the entry of Chinese companies in the sectors of advanced manufacturing, digital technology, food security and healthcare, into the Johor-Singapore Special Economic Zone and selected Malaysian industrial parks. CGS International Group CEO Carol Fong, said: 'These signings are more than just intents and agreements – they signify our strong confidence in the investment and growth potential of Asean and Malaysia. CGS International is proud to play the role of connector and catalyst, and to leverage our wider Asean presence and Chinese parentage to help our clients and partners accelerate cross-border strategic collaborations, capital and talent mobility for business growth.' ABF2025 was co-organised with Asean-BAC Malaysia and Mida, supported by partners MBSB and OCBC Malaysia. The forum was held in conjunction with the 46th Asean Summit 2025 and Sean-GCC+China Summit 2025. Over 500 regional policymakers, investors and corporate leaders attended the full-day event which featured strategic panels, high-level keynotes, and closed-door business matchmaking.
The Sun
03-06-2025
- Business
- The Sun
CGS , CGS International sign pacts for Asean-China business partnerships at Asean Business Forum 2025
KUALA LUMPUR: China Galaxy Securities Co Ltd (CGS) and CGS International Securities Group signed five strategic memorandums of understanding (MoUs) and one letter of intent (LoI), with top corporations, development partners and investment managers across Asean and China on May 29. These landmark agreements were signed at the inaugural Asean Business Forum 2025 (ABF2025) and witnessed by Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid on behalf of Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Securities Commission Malaysia (SC) executive chairman Datuk Mohammad Faiz Azmi, Asean Business Advisory Council (Asean-BAC) Malaysia chairman Tan Sri Nazir Razak and CGS chairman Wang Sheng. They aim to promote the growth of the Asean region as an integrated and cohesive regional economic powerhouse, deepen cross-border collaboration and accelerate capital flows across high-growth sectors. The signings reflect growing confidence in Asean's long-term growth prospects and the role of Malaysia – under its Asean chairmanship – to facilitate China-Asean and intra-Asean business and capital flows. Spanning access, private equity and investment in solutions for technology, healthcare, industrial development, investment promotion and wealth management family-office facilitation, the agreements reflect CGS and CGS International's broader mission and capability to bridge capital and opportunities within the region. These signings also build on their commitment made during the Johor-Singapore Special Economic Zone Partners' Dialogue on May 19, where CGS International committed to a target of RM6 billion – comprising RM3 billion in facilitation of foreign direct investment within three years and RM3 billion in assets under management in the establishment of single family office ventures. The signing parties and scope of partnerships of the LoI and the MoUs signed by CGS and CGS International include: • LoI for China-Asean Investment Programme – Establish a private equity fund to invest in high growth sectors such as healthcare/medical devices, semiconductor, advanced manufacturing, renewable energy, agriculture/food security and consumers throughout Asean with Malaysia as a key regional anchor and to facilitate the transfer of industry knowledge and technology from China to Asean. ARROW -- MoU with Mida to jointly promote Malaysia as an investment hub, support investor facilitation and collaborate on fundraising, business matching and supply chain development for high-value industries. ARROW -- MoU with Fullgoal Asset Management (HK) Limited (Fullgoal HK) and Bursa Malaysia Bhd. Fullgoal HK and CGS International will jointly list exchange-traded funds on Bursa Malaysia, with the aim to provide Malaysian investors with access to a wider range of investment options, and exposure to global markets. ARROW -- MoU with GL Capital Management Limited to jintly establish a closed-end private equity fund dedicated to healthcare/medical devices sector in Asean to tap its high growth opportunities. ARROW -- MoU with OCBC Bank (Malaysia) Bhd to jointly facilitate China and Asean trade and investment flows by supporting regional clients with banking, treasury and investment banking services. ARROW -- MoU with Zhongguancun International Holding Limited (Hong Kong) to facilitate the entry of Chinese companies in the sectors of advanced manufacturing, digital technology, food security and healthcare, into the Johor-Singapore Special Economic Zone and selected Malaysian industrial parks. CGS International Group CEO Carol Fong, said: 'These signings are more than just intents and agreements – they signify our strong confidence in the investment and growth potential of Asean and Malaysia. CGS International is proud to play the role of connector and catalyst, and to leverage our wider Asean presence and Chinese parentage to help our clients and partners accelerate cross-border strategic collaborations, capital and talent mobility for business growth.' ABF2025 was co-organised with Asean-BAC Malaysia and Mida, supported by partners MBSB and OCBC Malaysia. The forum was held in conjunction with the 46th Asean Summit 2025 and Sean-GCC+China Summit 2025. Over 500 regional policymakers, investors and corporate leaders attended the full-day event which featured strategic panels, high-level keynotes, and closed-door business matchmaking.
The Star
25-05-2025
- Politics
- The Star
China's Jiangsu, Asean committed to boosting education cooperation for mutual benefit, win-win results
PHNOM PENH: (Bernama-Xinhua) The Jiangsu-Asean Education Cooperation Exchange Conference was held here in the capital of Cambodia on Saturday (May 24), aiming at promoting cooperation and exchanges between east China's Jiangsu Province and Asean countries, reported Xinhua. Under the theme of "Building a Shared Future for Win-Win Development," the conference brought together representatives from government departments, enterprises, higher education institutions and research institutions of China and Asean countries. Speaking at the half-day event, Cambodian Deputy Prime Minister and Minister of Education, Youth and Sport Hang Chuon Naron said the conference was vital to discuss cooperation for mutual benefit and win-win results in the field of education between Jiangsu and Asean countries. Naron said Cambodia and other Asean countries have achieved fruitful results in cooperation and exchanges in the field of education with Jiangsu Province. "I firmly believe that with strong commitment made by the leaders of China and Asean, our cooperation will continue to expand, unleash huge potential, and make greater contributions to human welfare and regional social development," he said. Naron said that currently, there are more than 1,000 Cambodian students studying in China, of whom about 40 are studying in Jiangsu Province. "Cambodia will continue to encourage and support more students to study in China, especially in Jiangsu, to experience China's knowledge, culture and education system firsthand," he said. A representative from Jiangsu Province said China-Asean educational cooperation has achieved positive results, and education has increasingly become a catalyst and adhesive for younger generations to know each other, get close to each other, and integrate with each other. "Jiangsu is willing to deepen educational cooperation with Asean countries, promote youth exchanges, and continue traditional friendship," he said. According to the representative, Jiangsu has become one of the first choices for international students from Asean countries to study in China. Thai Education Minister Permpoon Chidchob said in a pre-recorded statement delivered to the conference that in recent years, Thailand and Jiangsu have forged profound and rewarding cooperation across multiple areas. "We have successfully implemented numerous exchange initiatives, and these initiatives have laid a solid foundation for the sharing and exchange of educational resources between our regions," he said. "These efforts have not only elevated educational and research standards but also provided strong support for innovation and industrial development," he added. Stella Christie, vice minister of higher education, science, and technology of Indonesia, said that in recent years, the cooperation between Indonesia and China in the field of education has achieved fruitful results. "Against the backdrop of globalisation, educational cooperation is particularly important," she said. "It serves as a bridge connecting the hearts of the people of the two countries and a cornerstone for promoting common development." Christie said Jiangsu Province has made remarkable achievements in educational concepts, teaching methods, and teacher training. "In the field of vocational education, Jiangsu has provided a large number of high-quality technical talents for industrial development, formed a unique integration model of production, education, and research, which has great appeal to Indonesia," she said. During the event, the achievements of Jiangsu-Asean education cooperation were unveiled, and the Jiangsu-Asean Youth Scholars Exchange Initiative was launched. Asean groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. - Bernama-Xinhua
