China Galaxy Securities and CGS International Successfully Conclude Forum to Boost China-Southeast Asia Cooperation

SINGAPORE, Oct. 23, 2024 /PRNewswire/ -- China Galaxy Securities (CGS) and CGS International Securities (CGS International) successfully concluded the CGS SEA Bilateral Investment Forum 2024, held in Haikou, Hainan, from 16 to 17 October 2024. The forum brought together 400 leading policymakers, industry experts, and business leaders to explore emerging macroeconomic trends and bilateral investment opportunities between China and Southeast Asia.

The event featured guests from the Hainan government including Chen Huai Yu, member of the Hainan Provincial Government's Party Leadership Group and Vice Governor; Cai Qiang, Secretary of the Party Leadership Group and Director of the Hainan Provincial Department of Finance. Keynote speakers included Liew Chin Tong, Deputy Minister, Ministry of Investment, Trade and Industry, Malaysia, Khairy Jamaluddin, former Malaysian Minister and former Member of Parliament, and Wang Sheng, Chairman of CGS, delivered keynote addresses.

In his speech, Cai Qiang, Secretary of the Party Leadership Group and Director of the Hainan Provincial Department of Finance, emphasised that the Hainan Free Trade Port is a significant reform personally planned, deployed, and promoted by China President Xi Jinping, making it a key national strategy. Since 2020, the Chinese government has provided Hainan with three "zero tariff" lists and preferential tax policies support the construction and development of the Hainan Free Trade Port.

The huge market in Southeast Asia, as well as its proximity, makes it an important trading partner for Hainan. Enterprises can leverage Hainan's unique position a free trade port and China's largest special economic zone to expand their businesses into China and Southeast Asia.

In his address, Wang Sheng highlighted that China and ASEAN are a role model of collaboration in the Asia Pacific region to advance the economies of both regions. The economic and trade relationships between the two have become increasingly close, with significant growth in bilateral investment and rapid progress in regional integration. According to the latest data, in the first three quarters of this year, China's trade with ASEAN reached 5.09 trillion yuan, an increase of 9.4%, building on the solid foundations of bilateral relations to boost its growth. As going global becomes an imperative for Chinese enterprises, ASEAN, with its unique geographic advantages and market potential, has become the preferred destination for their overseas expansion.

The thriving Hainan Free Trade Port serves as a model for a new system of higher-level open economic reform in China, and as a frontline hub for exchanges and cooperation between China and ASEAN. The conference aims to leverage the competitive advantages of the Hainan Free Trade Port and CGS' network in Southeast Asia to attract more businesses and investors to explore the opportunities available in Hainan, facilitating the upgrading and transformation of local industries.

CGS will continue to harness the synergy of its domestic and international operations, building bridges for bilateral investment cooperation between China and ASEAN, supporting the development of the Hainan Free Trade Port, and contributing to the high-quality development of the Belt and Road Initiative.

In his address, Deputy Minister Liew Chin Tong noted that this year marks the 50th anniversary of diplomatic relations between Malaysia and China. The two countries have consistently maintained close communication and high-level dialogue. He emphasised that today's investment forum is of great significance for both nations. Liu expressed hopes to build on existing economic and trade cooperation by advancing collaboration in emerging industries such as renewable energy. He also encouraged Chinese enterprises to consider Malaysia as a regional headquarters base, promoting broader international cooperation to benefit Malaysia, other Southeast Asian countries and China as a whole.

In his keynote speech, Khairy Jamaluddin discussed the flourishing bilateral relationship that has developed since 1974, when Malaysia became the first ASEAN country to formally establish diplomatic relations with China. He highlighted the continuous achievements in areas such as trade, infrastructure, and technology. Khairy noted that China, Malaysia, and the broader ASEAN region have a strong foundation and significant potential for resilient, inclusive, and sustainable development. This forum presents an opportunity to explore new avenues for growth and collaboration, fostering stronger partnerships through connectivity, technological advancement, and regional integration to enhance cross-border investment and trade between China and ASEAN.

Following the release of the "Belt and Road Financial Cooperation Practices: ASEAN Special Report" in 2023, CGS presented the report "China + ASEAN: A Winning Formula" at the forum. The report provides an in-depth analysis of the policies, trade, and economies of China and key ASEAN nations, offering valuable insights for businesses in both regions to understand each other's investment environments and opportunities.

This forum witnessed the signing of strategic cooperation agreements across various sectors, and featured a "fireside chat" with representatives from the Hong Kong Stock Exchange, Singapore Exchange, Indonesia Stock Exchange, Malaysian Securities Commission, Shenzhen Stock Exchange, and Vietnam. It also hosted panel discussions on diverse topics including private equity investment, China's consumer power, the digital economy, semiconductor, and renewable energy. Guests from different countries and industries shared insights, creating a dynamic atmosphere that resonated with the new developmental momentum.

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About China Galaxy Securities

China Galaxy Securities Co., Ltd. (the "Company") is one of the leading integrated financial service providers in the securities industry in China. Our business network spans over 15 countries and regions across 5 continents, serving more than 16 million customers. The de facto controller of the Company is Central Huijin which is wholly owned by China Investment Corporation Limited, a world-renowned sovereign wealth fund in China. With our unique history, brand and shareholder advantages, the most extensive business network within the industry and client base, as well as the all-round business services and capacities, the Company provides comprehensive financial services such as wealth management，investment bank，institutional business，international business and investment trading to individuals, corporations, institutions, international and capital market clients. Having been ranked among the top in the industry in terms of capital scale, profitability, business strength and risk management capability, the Company is committed to being a well-respected modern investment bank.

About CGS International Securities

CGS International Securities Pte. Ltd. (CGS International) is an award-winning and market leading integrated financial services provider, ranked among the top securities houses in Asia.

CGS International taps on our wealth of global and ASEAN insights to offer equities trading, leveraged products, wealth management, investment banking, equities research, Shariah-compliant financing, fixed income, currency and commodities, structured products and prime brokerage services in over 15 countries and regions.

Find out more at www.cgsi.com.

SOURCE CGS International Securities Pte. Ltd. (CGS International)