Malaysian PM hails growing cultural, people-to-people exchanges with China

China

Malaysian PM hails growing cultural, people-to-people exchanges with China

2024-12-28 17:19 Last Updated At：18:37

Malaysian Prime Minister Anwar Ibrahim emphasized that Malaysia and China have made significant progress in promoting cultural and people-to-people exchanges through initiatives such as promoting the lion dance and facilitating visa-exempt travel.

Earlier this year, the two countries agreed to jointly apply for the inclusion of the lion dance on UNESCO's Representative List of the Intangible Cultural Heritage of Humanity. Both nations applauded the lion dance as a shared historical and cultural treasure and committed to preserving this cultural legacy together.

In an interview with China Media Group in Beijing, aired on Friday, Ibrahim emphasized the lion dance's importance in enriching Malaysia's cultural fabric.

"In Malaysia, lion dance [is featured] in always every single function. They (Malaysians) don't wait for the Lunar [New] Year. Particularly [in] the ethnic Chinese community, I always see a lion dance. Never mind the noise, but then it is enriching our culture. Malay Muslims are the majority, but it [lion dance] is part of the culture. We do accept it and embrace it. So when it comes to jointly promoting the lion dance with China, it doesn't come as a problem at all," said the prime minister.

Additionally, China has extended its visa-free entry policy for Malaysians until the end of 2025, and Malaysia has reciprocated with a similar policy for Chinese citizens.

Regarding the impact of these visa policies, Ibrahim noted that they have provided a significant boost to Malaysia's tourism industry, which saw a 186-percent increase in Chinese tourist arrivals from September to October this year.

"It is extremely or largely significant because it has propelled the number of tourists from China -- also from Malaysia [to China] -- but mostly from China because it is a big country [with a] huge population. I think [Malaysia saw] a 186-percent increase [of tourists from China] from September to October this year. So, it is something which is of great and immense help to the tourism industry," Ibrahim said.

Hong Kong stocks hold firm despite mass lock-up expiries

Hong Kong's stock market stayed afloat Friday despite a wave of lock‑up expiries from major listings, said China Global Television Network (CGTN) analyst Timothy Pope.

Lock‑up expiries occur when restrictions on early investors selling shares after IPOs are lifted, often adding volatility to trading.

The benchmark Hang Seng Index rose 0.60 percent to close at 24,175.12 points, while the Hang Seng China Enterprises Index gained 0.52 percent to 8,039.19. The Hang Seng Tech Index slipped 0.21 percent to 4,721.66.

Pope noted the market's resilience, pointing out that the Hang Seng finished the week up about 3.5 percent even as lock‑up releases pressured individual stocks.

"Hong Kong's markets definitely in strong shape on Friday. The Hang Seng [Index] closed 0.6 percent higher but was up around 3.5 percent for the week as a whole, I think. The market really stayed afloat through a wave of lock-up expiries. This week we had the two big ones -- Knowledge Atlas and MiniMax. They were initially doing okay. Knowledge Atlas in particular managed to gain in the wake of 6 percent of its outstanding shares being released for sale this week, but today it was down 19 percent. Minimax was down both days as well. This was always going to be a tougher one because 45 percent of the company's outstanding shares came out of lockup all in one go. Today it fell 9.6 percent. This week also saw the market debut from Apple contractor Luxshare, and its secondary listing in Hong Kong. Today it was up 1.5 percent. That strong IPO pipeline in Hong Kong as well really has set the index on a strong run despite the volatility that we are seeing on the Asian markets recently," said Pope.