The "two countries, twin parks" project between China and Malaysia of the China-Malaysia Qinzhou Industrial Park (CMQIP) and the Malaysia-China Kuantan Industrial Park (MCKIP) celebrated its 10th anniversary recently.

Since the establishment of the CMQIP, there have been more than 15,000 registered companies, more than 200 signed and settled projects, as well as a total investment of over 190 billion yuan ($29.95 billion).

To date, the MCKIP has signed 12 projects, with the contracted investment exceeding 40 billion yuan and the completed investment totaling about 12 billion yuan, driving the new throughput of Kuantan Port by 18 million metric tons. In addition, it has created 15,000 and 5,000 temporary and long-term jobs respectively.

By the end of 2021, the CMQIP has achieved a total industrial output value of 39.17 billion yuan, with an average annual growth rate of 44.8 percent. It has completed a fixed asset investment of 25.2 billion yuan, with an average annual growth rate of 21.9 percent, as well as completed a foreign trade import and export volume of 20.17 billion yuan.

Its actual use of foreign capital was $514 million, with an average annual growth rate of 38.3 percent, while its fiscal revenue was 4.68 billion yuan, with an average annual growth rate of 16.2 percent.

The Malaysia-China Kuantan Industrial Park. [Photo/WeChat account: zmqqzgpq]