THE search for missing passenger jet MH370 will not be extended beyond the current area in the southern Indian Ocean despite a long-awaited $20 million contribution from China.
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The development, bringing China-ASEAN economic relations to a higher level, is of milestone significance, Li told representatives of the Malaysian business circle.
Addressing a bilateral high-level economic forum in Kuala Lumpur, Li said that China would grant a 50-billion yuan (8.2-billion-U.S. dollar) quota to Malaysia under the Renminbi-Qualified Foreign Institutional Investor program to facilitate bilateral trade and mutual investment.
“Normally, there are a lot of restrictions to trading in China, such as (in the capital market) trading in A-shares”.
“In the context of trade between the two nations, China is already Malaysia’s largest trading partner and has been since 2009”.
During an interview with Sin Chew Daily, Ong said President Xi Jinping signed a 5-year trade cooperation agreement with Malaysia during his visit two years ago, with the aim of achieving US$160 billion in bilateral trade by the year 2017.
Australia’s government was yesterday awaiting more details of the funding, reportedly offered by Premier Li Keqiang during a meeting with Prime Minister Malcolm Turnbull at the ASEAN summit in Kuala Lumpur.
Premier Li visited a museum that commemorates Zheng He, the intercontinental voyager who is believed to be the initiator of the ancient Maritime Silk Road.
Premier Li met with the Malaccan governor Mohd Khalil bin Yaakob. The common destiny will also feature negotiations on the Regional Comprehensive Economic Partnership and the Free Trade Area of the Asia-Pacific.
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Leaders of the 10 ASEAN countries also declared Sunday a historic pronouncement of establishing the ASEAN Community. It also said the SC will further collaborate with the China Securities Regulatory Commission to implement the RQFII programme.
