Letters | China’s reform plan holds promise for Southeast Asia

Readers discuss the benefits of China’s reform push, the growing buzz around boys’ love, and Hong Kong’s property market

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A man arranges durians at a stall in Kuala Lumpur. China’s reforms are expected to stimulate economic growth, and stronger economic performance in China typically results in higher demand for Malaysian exports. Photo: Reuters

Published: 11:30am, 17 Aug 2024

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China’s commitment to modernisation and its ambitious plan for comprehensive reform, as outlined during the third plenum of the Communist Party’s Central Committee last month, are welcome. The intent to further open up China’s economy could have a positive impact on Southeast Asia.

As China repositions itself with a focus on modernising its economy and enhancing its technological capabilities, Southeast Asian countries can expect to benefit from a more dynamic, robust trade and investment ecosystem. China’s reforms could lead to increased opportunities for regional trade and collaboration.

China’s direction-setting is an important step forward. Its commitment to creating a modern market economy and protecting vibrant economic systems in the region will support and enhance multilateral trade platforms. This alignment with global economic standards could also improve regional economic stability and cooperation.

The emphasis on the rule of law is particularly encouraging. This is a crucial element in establishing China as a reliable and constructive partner in trade, investment and regional diplomacy. Such a commitment is vital for fostering trust and collaboration between China and Southeast Asia.

Malaysia will be at the centre of these efforts as it takes over as Asean chair next year. It is crucial for Malaysia to take note of this progress as China is Malaysia’s largest trading partner and a key source of foreign direct investment.