The Malaysia External Trade Development Corporation (MATRADE) and Industrial and Commercial Bank of China (Malaysia) Berhad (ICBC Malaysia) have formalised a strategic partnership to accelerate Malaysian exports to China and create new growth opportunities for Malaysian enterprises.
The two organisations exchanged a Memorandum of Understanding (MoU) at the Malaysia Pavilion during the 5th Global Digital Trade Expo (GDTE) in Hangzhou, China, on 29 September 2026.
The partnership establishes a trade promotion and financial support framework aimed at helping Malaysian businesses navigate the China market, while strengthening cross-border commercial connections between Malaysian and Chinese enterprises.
Expanding Market Access for Malaysian Businesses
Under the partnership, MATRADE and ICBC Malaysia will combine their institutional networks and financial capabilities to support Malaysian exports across strategic hubs in China.
The collaboration will involve joint trade engagements, cross-border business opportunities and the use of global network platforms to connect Malaysian suppliers and service providers with Chinese business partners.
The partnership will particularly support Malaysian medium and small-sized enterprises seeking to expand their products and services into China, as well as other growing markets including ASEAN.
MATRADE Chief Executive Officer Dato’ Indera Abu Bakar Yusof said expanding into major markets such as China requires both commercial access and strong financial infrastructure.
“Expanding into major markets like China requires both commercial access and strong financial infrastructure.”
He said the partnership with ICBC Malaysia aligns with MATRADE’s strategy of helping Malaysian enterprises navigate international growth, establish resilient trade connections and develop a lasting presence across regional markets.
Supporting Malaysian SMEs with Trade Finance
A key component of the partnership is the provision of financial solutions to support MATRADE initiatives aimed at strengthening Malaysia-China trade.
ICBC Malaysia will support trade activities including MATRADE’s Malaysia-China Gateway Initiative (MCGi), providing Malaysian exporters with access to trade finance and market-entry support.
The arrangement is intended to give Malaysian businesses greater support as they enter the China market, combining commercial connections with financial solutions needed to facilitate cross-border trade.
The partnership also reflects MATRADE’s wider efforts to expand Malaysian businesses’ access to China through business matching and trade promotion initiatives. Earlier in September, MATRADE coordinated 67 Malaysian companies at the China-ASEAN Expo 2026 as part of efforts to deepen Malaysia’s market presence in China.
Promoting RMB Trade and Investment Settlement
ICBC Malaysia will also promote the use of the Chinese Yuan (RMB) as a settlement currency for trade and investment between Malaysia and China.
Its financial offering under the partnership will include RMB trade settlement, trade finance and foreign exchange (FX) hedging solutions.
These services are intended to facilitate trade and investment activities while helping Malaysian enterprises manage the financial requirements involved in cross-border business.
ICBC Malaysia Managing Director and Chief Executive Officer Geng Hao said the bank was committed to providing financial solutions and access to RMB services while leveraging ICBC’s China and international networks.
“Through this MoU, ICBC Malaysia is committed to providing robust financial solutions, access to RMB financial solutions and leveraging ICBC’s vast China domestic and international network to help Malaysian businesses navigate entry into growth markets.”
Connecting Malaysian Enterprises with Chinese Partners
The partnership will also focus on connecting Malaysian businesses with credible Chinese business partners.
By combining MATRADE’s trade promotion network with ICBC’s financial and international banking capabilities, the two organisations aim to broaden market access and facilitate new commercial relationships.
This includes opportunities for Malaysian suppliers and service providers to connect with Chinese companies while exploring expansion into China and other regional markets.
The collaboration comes as Malaysia continues to strengthen its trade and digital business links with China. MATRADE reported that Malaysia-China trade rose 35% to RM456.68 billion in the first eight months of 2026, while exports to China increased 23.7% to RM148.56 billion.
Strengthening Malaysia-China Trade Links
The MoU forms part of broader efforts to strengthen bilateral trade and help Malaysian enterprises access one of the country’s key export markets.
At the GDTE, MATRADE has also been working to expand Malaysia’s presence in China’s digital economy, with Malaysian exhibitors showcasing capabilities in digital trade, artificial intelligence, cloud services, smart healthcare and cross-border e-commerce.
Moving forward, MATRADE and ICBC Malaysia will focus on joint initiatives that broaden market access, streamline trade facilitation and support Malaysian enterprises in developing resilient cross-border business opportunities.
For Malaysian SMEs and other businesses looking to expand into China, the partnership brings together two key elements of international expansion: market access and financial support.
