It will be held in conjunction with the 50th anniversary of the establishment of diplomatic relations between Malaysia and China, State Minister Datuk Phoong Jin Zhe said on Monday.The business summit will comprise two programmes: the Sabah-China Economic Forum scheduled for Nov 22-23 and the Sabah-China Expo from Nov 22-24 at the Sabah International Conference Centre .
He emphasised the importance of focusing on investment and trade between Sabah and China, citing the doubling of total trade over the past five years, from 10 billion yuan in 2018 to 20 billion yuan in 2023.“The Chinese-funded enterprise Kibing Group, which invested RM3 billion in the Kota Kinabalu Industrial Park to produce and export solar photovoltaic glass, has decided to increase its investment by RM700 million to add a third production line in Sabah and further boost production.
“Sabah is expected to welcome more Chinese tourists by then, as we are also targeting Chinese tourists, not just Chinese investors. He said the Sabah-China Business Summit opening would be officiated by Chief Minister Datuk Seri Haji Hajiji Noor.