Malaysia to enhance ties to e-commerce, AI

Malaysia plans to further enhance its ties with Chinese companies in e- commerce, digital economy and artificial intelligence to further accelerate the liberalization of trade and attract investment to maintain a robust growth momentum.

Seri Ong Ka Chuan, second minister of Malaysia's Ministry of International Trade and Industry, said as the Association of Southeast Asian Nations has already signed free trade agreements with major trade partners, such as China, South Korea, Japan and Australia, developing digital economy and high-end industries can help Malaysia diversify its economy via a consumption and investment-fueled economic development model.

China is now Malaysia's top trading partner and the country remains China's biggest import source within the ASEAN bloc. Bilateral trade amounted to $54.3 billion in 2016, up 44.4 percent yearon-year, data from the Ministry of Commerce show.

Meanwhile, the 2nd China Cultural and Sports Industry Summit was held at the Xi'an High-tech Industries Development Zone in Xi'an, Northwest China's Shaanxi province.

Hosted by the administrative committee of the Xi'an High-tech Zone and China Cultural and Sports Industry Alliance, the forum was attended by officials from Shaanxi province and Xi'an city government and guests from countries involved in the Belt and Road Initiative. They were joined by experts and scholars from arts and sports associations, such as the China Tourism Performing Arts Alliance and China Sports Venue Association.

Themed on the new engines of the arts, sports and tourism industry, the forum discussed ways to seize the opportunity of the Belt and Road Initiative to establish a sound development system in the industry under a partnership between the government and enterprises and to seek more space in international trade cooperation.

By analyzing the investment and financing policies in the cultural and sports industry under the EPC and PPP (publicprivate partnership) mode.