Qualampur: Malaysia appreciates the recent policies launched in China, as the government actively takes measures to encourage domestic consumption.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafarul Abdul Aziz said he sees it as an active step in the right direction.
“Concern has not only been about the possibility of Chinese products for floods in other markets due to restricted access to the United States, but also wide implications for other exporters, including people from Malaysia, Indonesia or Vietnam, who can now face growing competition in third markets.
He said, “These new domestic consumption measures from China can help reduce both direct and indirect impacts on regional trade,” he said in an interview uploaded to his X account today.
Tengku Zafarul made this comment in response to a question about promising initiative by the Chinese private sector, where prominent e-commerce platforms are promising to promote domestic consumption from Chinese exporters by sourcing products and promoting them within the local market.
An example is the Chinese e-commerce giant JD.com, who has promised Chinese exporters to buy about US $ 27 billion in the next year for the domestic market.
Tengku Zafarul said that this would be a positive development and believes that Malaysia should continue working with China to detect further associate opportunities, especially in the context of such a private sector-driven initiative.
