KUALA LUMPUR: (Nov 4): Although many Malaysian firms now use the renminbi to conduct business with China, only a few are taking advantage of Beijing’s “Belt and Road” initiatives, according to a survey by HSBC Commercial Banking. The initiatives consist of a series of policy developments and infrastructure projects, aimed at developing US$2.5 trillion worth of cross-border commerce annually. However, only 41% of respondents understood the opportunities that the Belt and Road initiatives present. “Belt and Road projects are already presenting huge opportunities for companies that can help develop physical infrastructure such as highways, ports and telecommunications networks,” said HSBC Bank Malaysia’s commercial banking head Andrew Sill. The state-run China Development Bank has said it plans to contribute US$895 billion of project funding.

Source: The Edge Markets November 04, 2016 11:19 UTC