Ribbon cutting with the award recipients (front row) to mark the opening of GCET 2022. KUALA LUMPUR: The Global Chinese Economic and Technology (GCET 2022) Summit wants to enhance connections between China, the world and among the global Chinese diaspora, in the aftermath of the Covid-19 pandemic. With the theme Towards Sustainable Recovery and Shared Prosperity in the New Post-Pandemic Global Era, GCET 2022 was held both online and physically here yesterday. The one-day event was jointly organised by independent not-for-profit think tank KSI Strategic Institute for Asia Pacific (KSI), the Shandong Provincial Federation of Returned Overseas Chinese, China-Asean Business Association, China Development Institute – one of China’s leading think tanks – together with the Cheng Ho Multicultural Education Trust. Summit organiser, KSI president Tan Sri Michael Yeoh, said that after the pandemic, global recovery has to be prioritised – with emphasis on partnership, leadership and cooperation. “GCET focused on the 4Ps – peace, partnerships, people and planet – for global shared prosperity. “It is a high-level summit to benefit countries, companies and business by advancing business and economic cooperation and partnerships,” added Yeoh. “GCET is aimed at promoting closer economic, technological and business linkages between China and Asean,” said GCET founder and patron Tan Sri Lee Kim Yew, who is also Country Heights Holdings Group founder and executive chairman. (From left) KSI executive vice chairman Datuk Dr Vaseehar Hassan, GCET founder and patron Tan Sri Lee Kim Yew, Ouyang Yujing, Rais Yatim, KSI chairman Tan Sri Majid Khan, president Tan Sri Michael Yeoh and deputy chairman Datuk Seri Iqbal Rawther at GCET 2022.Pic to caption “We also intend to encourage Chinese diasporas and Commonwealth countries to invest and establish businesses in Malaysia and make Malaysia their second home,” added Lee. Formerly known as the World Chinese Economic Summit, the event has been held in Melbourne, Chongqing, London, Melaka, Macao, Beijing, Bonn and Penang. It has brought together government, business and academic leaders to discuss the rise of China and its relations with South-East Asia and other countries, as well as to promote business, education and technology partnerships. Dewan Negara president Tan Sri Rais Yatim and China ambassador to Malaysia Ouyang Yujing both delivered the summit’s special addresses. In his speech, Rais mentioned that China has been Malaysia’s largest trading partner for 13 consecutive years, while it is China’s ninth largest. “Our bilateral trade was at a record high of US$176.8bil last year, which easily made up close to 20% of our total trade. As of August, our trade this year has reached US$31.2bil, an increase of 21.1% year-on-year.” He pointed out that in 2021 alone, 43 manufacturing projects from China worth US$3.98bil were approved, which had generated almost 14,000 jobs for Malaysians Rais also noted that both Malaysia and China are in the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trading bloc that accounts for 30% of the global population and economy. “Among the Asean countries, Malaysia is expected to be the largest beneficiary from RCEP in terms of export gains, with an estimated increase of over US$200mil,” he said. The summit also saw award presentations that recognise contributions from Chinese business leaders under various categories, presented by the Yang di-Pertua Negeri of Melaka Tun Mohd Ali Rustam. Called the GCET 2022 Awards, it consisted of four categories: > Global Chinese Distinguished Entrepreneur Lifetime Achievement Award > Global Chinese Distinguished Entrepreneur Achievement Award > World Chinese Distinguished Woman Entrepreneur Award > World Chinese Outstanding Woman Business Leader Award. About 50 prominent local and foreign speakers from Malaysia and overseas – such as China, Bangladesh, Australia, Switzerland, Canada, Germany, Hong Kong, the UK, and the US – shared their knowledge, insights and experiences on various pertinent issues affecting the global Chinese diaspora in the post-pandemic era. More than 200 leading figures in business, policy makers, entrepreneurs, and diplomatic corps attended the summit held at Shangri-La Kuala Lumpur.