Monday, August 10

China bank expands to Labuan



LABUAN: Industrial and Commercial Bank of China (ICBC) Labuan branch’s trial operation reflects a deeper bilateral trade between Labuan and China.

Consul General of the People’s Republic of China in Kota Kinabalu, Chen Peijie, said the expansion of the ICBC Labuan branch augured well for the status of Labuan Chinese Chamber of Commerce (LCCC) and Chinese community on the island.

She said that at the 70th anniversary celebration of Labuan Chinese Chamber of Commerce (LCCC) here on Saturday. The event was graced by Labuan member of parliament Datuk Rozman bin Datuk Hj Isli.

She said Malaysia and China were close friends and mutually beneficial partners.

Last November, she said Chinese Premier Li Keqiang had visited Malaysia and brought many good news that would enhance the bilateral ties of both countries.

In December, the Visa Hall of the Consulate General of the People’s Republic of China in Kota Kinabalu had officially started operation, while the Asian Infrastructure Investment Bank (AIIB) initiated by China will begin its operations this month, Chen said.

With the ‘One Belt One Road’ initiative being realized gradually, Labuan can leverage on its advantage as a free port to step up collaboration with its counterparts in China.

“I hope LCCC will lead local businesses and people to bring about bigger developments and further enhance the relations between Malaysia and China, she said, adding that the consulate will also strive to boost the relations between both countries in this new year.

On the other hand, Chen said LCCC said the past presidents and committee members had been committed to pursue the rights of businesses, Chinese community and education, as well as played the role as a bridge between the government and people.

She also commended on the contribution by the incumbent president Datuk Wong Kii Yii for his efforts in local developments.