Ningbo joins hands with Malaysia to develop auto parts industry

Ningbo's major auto parts companies sign agreements with Malaysia Tanjung Malim Automotive Components Mega Hub on Aug 17. [Photo/zjol.com.cn]

A Malaysian delegation led by Ahmad Faizal bin Azumu, head of the government of Perak state and Goh Tian-chuan, executive chairman of Globaltec Formation Bhd Group, visited Ningbo, Zhejiang province on Aug 17 to seek exchanges and cooperation in the auto parts sector.

During the visit, the city's leading automotive component players signed agreements with Malaysia Tanjung Malim Automotive Components Mega Hub to strengthen the ties with the Southeastern Asian country in the auto parts industry.

The governments of Ningbo and its Yinzhou district made a strategic plan for local companies going global in 2017. Malaysia was devised as the first stop for the city's expansion into countries involved in the Belt and Road Initiative.