China-Malaysia Qinzhou Industrial Park

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Located in Qinzhou City, Guangxi Zhuang autonomous region, the China-Malaysia Qinzhou Industrial Park (CMQIP) is the third international park jointly established by the Chinese government and a foreign government. Upholding the new development concept of innovation, coordination, greenness, openness and sharing, and with the support of the governments of both countries, it has developed quickly over the past decade.With strong support from the governments of China and Malaysia, CMQIP and the Malaysia-China Kuantan Industrial Park (MCKIP), China's first national industrial park in Malaysia, co-created a new cooperative model for international production capacity named "Two Countries, Twin Parks". The model is a pioneering exploration and practice of the Belt and Road Initiative. Moreover, a two-tier negotiation mechanism was also jointly established by the two sides, including an annual ministerial cooperation council conference, and daily coordination between director-general-level departments. Under the "Two Countries, Twin Parks" cooperation framework, CMQIP and MCKIP have been making great efforts to promote policy innovations, joint investment, international production capacity cooperation, and improved cross-border financial services. Preferential policies on finance, taxation, land and talents have also been issued.At present, CMQIP has carried out trials on cross-border financial services, launched a cross-border renminbi interbank financing business, and provided RMB liquidity support for the construction of an industrial park in Kuantan, Malaysia. It has also carried out loans for overseas projects, allowing pilot banks to provide RMB loans to projects in its sister industrial park, carried out cross-border two-way RMB flow assistance, simplified the process for offshore transfer of RMB bank settlement accounts of overseas institutions, and carried out an RMB credit asset transfer business, allowing pilot banks to conduct RMB credit asset transfers abroad.In the long run, Qinzhou aims to take advantage of the industrial park to become a regional logistics, services and industrial hub with influence across Southeast Asia and beyond.

China-Malaysia Qinzhou Industrial Park

中国-马来西亚钦州产业园区

With strong support from the governments of China and Malaysia, CMQIP and the Malaysia-China Kuantan Industrial Park (MCKIP), China's first national industrial park in Malaysia, co-created a new cooperative model for international production capacity named "Two Countries, Twin Parks".