Photo: AFP/IMAGINECHINA
Eurasia
14/02/2024 09:44
Last year, the sector's industrial added value soared 13 percent year on year, 8 percentage points higher than that for China's overall manufacturing industry, according to the association.
The combined operating revenue of this sector came in at 10.1 trillion yuan (about 1.42 trillion U.S. dollars) in 2023, jumping 11.9 percent from the previous year.
There are many aspects of the Chinese economy that are interesting. The most striking thing about the economy from a Western perspective is that while the Chinese economy is a market-based economy insofar as prices are set by the market, investment in China remains tightly controlled by the government.
The West's response to the challenge of a rising China is bloc formation, which is not in the interest of smaller countries. It would be advisable to change the sanctions regime and focus on mutually beneficial, win-win cooperation.
Malaysia's geopolitical neutrality and strategic positioning are key selling points to multinational semiconductor companies looking for investment destinations.