Georgetown, Pulau Pinang, Malaysia, 12th Oct 2023 – In August 2023, Mr. Liu Jianning, Vice Chairman of the Hainan Financial Development Promotion Association, embarked on a series of exchange activities in Malaysia at the invitation of Quantum Metal Group. During his visit, he explored various institutions, including the Quantum Metal Group headquarters, the Malaysian National External Trade Development Bureau, the World Consumer Association, and the (Japan-Malaysia) Plant Stem Cell Factory. Mr. Liu also represented Hainan as the sole non-member country delegate at the 2023 ASEAN Cooperation Organization meeting and attended the high-level forum during the same event.
Collaboration Agreement between Hainan Financial Development Promotion Association and Quantum Metal Group
On March 22, 2023, the Hainan Financial Development Promotion Association signed a collaboration framework agreement with Malaysia’s largest gold supplier, Quantum Metal Group. This partnership aims to jointly organize the Hainan Free Trade Port Gold Market Development Strategic Seminar. The seminar discussed strategies to facilitate the international operational headquarters of Quantum Metal Group in Hainan and the development of the precious metals trading market in Hainan under the backdrop of the RCEP (Regional Comprehensive Economic Partnership) agreement. This collaboration marked the beginning of a strong relationship between Quantum Metal Group and Hainan, thanks to continuous communication and follow-up efforts.
During the first leg of his Malaysia visit, Vice Chairman Liu Jianning visited the Quantum Metal Group headquarters. He provided Chairman Lin Lianshun with a detailed overview of the efforts and support extended by the Hainan International Economic Development Bureau and the Haikou Municipal Government to facilitate the establishment of Quantum Metal Group’s international operational headquarters in Haikou. Mr. Liu discussed strategies, pathways, and steps for Quantum Metal‘s development in Hainan, offering constructive suggestions that led to mutual agreement. The Hainan Financial Development Promotion Association expressed its gratitude for Quantum Metal Group’s efforts to promote investment and trade cooperation between Hainan and Malaysia and to integrate Hainan Free Trade Port into the ASEAN trade system.
On August 22, Vice Chairman Liu Jianning and senior management of Quantum Metal Group visited the Malaysian National External Trade Development Bureau, where they engaged in discussions with Mr. Bhg. Datuk Mohd Mustafa Abdul Aziz, the CEO of the bureau, and Mr. Abu Bakar Yusif, the Deputy CEO. Vice Chairman Liu Jianning focused on elaborating on the current status and prospects of trade development between China and ASEAN countries and the role of Hainan Free Trade Port in fostering cooperation between China and ASEAN nations. He particularly emphasized the practical significance of Hainan Free Trade Port’s “Two Base” development strategy for deepening trade cooperation in production factors between ASEAN companies and Chinese enterprises.
Leadership at the Malaysian National External Trade Development Bureau expressed their gratitude for the long-standing trade cooperation between Malaysia and China. They praised Hainan’s strong support for Quantum Metal Group’s project to establish its operational headquarters in Hainan. They committed to conducting in-depth research on the actual implications of Hainan Free Trade Port’s “Two Base” development for Malaysian businesses and expressed their eagerness to build multi-tiered trade cooperation relationships in the future.
On August 23, Vice Chairman Liu Jianning had the unique privilege of representing Hainan as the only non-member country delegate at the 2023 ASEAN Cooperation Organization meeting. He also attended the high-level forum with the theme “Promoting De-dollarization of International Trade and Adoption of Digital Gold as a Payment Instrument among ASEAN Cooperation Organization Member States.” During the event, Vice Chairman Liu Jianning engaged in a brief exchange with Y.Bhg. Dato’ Hj. Abdul Fattah Hj. Abdullah, the Chairman of the ASEAN Cooperation Organization.
During their conversation, Vice Chairman Liu Jianning introduced the development strategy of Hainan Free Trade Port’s “Two Base” concept and the “Thousand Enterprises, Thousand Financial Empowerment Action Plan” initiated by the Hainan Financial Development Promotion Association. Chairman Y.Bhg. Dato’ Hj. Abdul Fattah Hj. Abdullah expressed the organization’s commitment to exploring both the theoretical and practical aspects of using digital gold as an international trade payment instrument. He acknowledged the vital role of the ASEAN Cooperation Organization in fostering trade cooperation with China and expressed strong support for Quantum Metal Group’s establishment of its international operational headquarters in Hainan. He also hoped for deeper collaboration through Hainan Free Trade Port’s “Two Base” initiative.
During his visit to Malaysia, Vice Chairman Liu Jianning paid a visit to the World Consumer Association, where he introduced the annual China International Consumer Goods Expo held in Hainan and its substantial impact. He discussed various matters with President Datuk Badu Kakyang Guowei and other leaders, including the possibility of the Malaysian Halal Certification Authority setting up its “China Export Commodity Halal Certification Headquarters” in Hainan. President Guowei emphasized the association’s responsibility to focus on and protect global consumer rights from the perspective of international trade. He expressed the association’s interest in establishing cooperation with the relevant authorities responsible for the China International Consumer Goods Expo.
In addition, during his tour of the (Japan-Malaysia) Plant Stem Cell Factory, Vice Chairman Liu Jianning introduced the “Agricultural Powerhouse” national strategy of China and the specific measures undertaken by local governments to implement this strategy. He welcomed the prospect of the (Japan-Malaysia) Plant Stem Cell Factory selecting Hainan Free Trade Port as its location, leveraging its advanced technology and services to promote agricultural development. Chairman Kevin Lim expressed agreement with these ideas and indicated that he would explore opportunities for further discussions in Hainan.
Throughout the course of these collaborative exchange activities, Vice Chairman Liu Jianning also had fruitful discussions with officials from the Ministry of Finance and Economy of Brunei, represented by Ms. Pg Suridah Pg Hj Sulaiman, and the Honorary Ambassador of Malaysia to Uganda, Mr. Al Haj Habib Kagimu.
The convergence of RCEP and Hainan Free Trade Port policies is now in full swing, and Hainan has been actively pursuing its core policy measures to support the development of the “Two Base” concept since March 2023. These efforts aim to create a conducive environment for international business operations and trade. The unveiling of the “Two Base” demonstration zone in Sanya on June 2 marked a significant milestone in this endeavor.
As a think tank-style social organization within the financial industry, the Hainan Financial Development Promotion Association plays a crucial role in organizing international exchanges and promoting international trade cooperation. This series of exchange activities in Malaysia aimed to introduce the “Two Base” initiatives of Hainan Free Trade Port to ASEAN countries and businesses, gather information on economic and trade interactions, and facilitate the establishment of enterprises on both sides. The Association will compile this information into written documents to submit to relevant departments, providing comprehensive financial and support services for cross-border trade between the two countries. These efforts are expected to contribute to enhancing connectivity and economic trade development between China and Malaysia.
Organization: Quantum Metal
Contact Person: Dato Lim Khong Soon
Contact Number: +60 3-8605 3611
State: Pulau Pinang
Release Id: 1210236853
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