Malaysia Welcomes China's Policies To Boost Domestic Consumption - Tengku Zafrul

KUALA LUMPUR, April 21 (Bernama) -- Malaysia appreciates the recent policies introduced in China, as the government actively formulates measures to stimulate domestic consumption.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said he sees this as a proactive step in the right direction.

“The concern has not only been about the possibility of Chinese products flooding other markets due to restricted access to the United States, but also the wider implications for other exporters, including those from Malaysia, Indonesia or Vietnam, who may now face increased competition in third markets.

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“These new domestic consumption measures from China could help mitigate both the direct and indirect impact on regional trade,” he said in an interview uploaded on his X account today.

Tengku Zafrul made this comment in response to a question about promising initiatives by China’s private sector, where major e-commerce platforms are pledging to boost domestic consumption by sourcing products from Chinese exporters and promoting them within the local market.

One example is Chinese e-commerce giant JD.com, which has pledged to purchase approximately US$27 billion worth of goods from Chinese exporters over the next year for the domestic market.

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Tengku Zafrul said this would be a positive development and believes Malaysia should continue to work closely with China to explore further collaborative opportunities, especially in the context of such private sector-driven initiatives.

-- BERNAMA