CAEXPO adds imagination to high-quality regional cooperation

 

An aerial photo taken on September 15, 2025 shows the Nanning International Convention and Exhibition Center, the venue for the 22nd China-ASEAN Expo (CAEXPO) in Nanning, South China's Guangxi Zhuang Autonomous Region. Photo: VCG

On Wednesday, the 22nd China-ASEAN Expo (CAEXPO) and the China-ASEAN Business and Investment Summit kicked off in Nanning, South China's Guangxi Zhuang Autonomous Region. With about 3,200 companies from 60 countries participating, this grand event, themed "Digital Intelligence and Innovation empower Development - Leveraging ASEAN-China FTA 3.0 new opportunities for an even closer ASEAN-China community with a shared future," features a high concentration of AI, business, innovation, and financial elements. It is not only an important platform for economic cooperation in the Asia-Pacific region but also a vivid practice of China and ASEAN countries upholding multilateral trade and building a community with a shared future. It sends a strong signal to the world of unity, cooperation, and common development.

In 2021, President Xi Jinping proposed the joint building of a peaceful, safe and secure, prosperous, beautiful and amicable home, charting the course for China-ASEAN cooperation. Today, China and ASEAN have become a model of regional cooperation marked by mutual support and shared destiny. The data speaks for itself. From January to August this year, trade between China and ASEAN reached $686.78 billion, an 8.6 percent year-on-year increase. As of July, two-way investment between the two sides exceeded $450 billion. The effect of visa-free policies has been significant - from January to August, the number of trips between China and ASEAN exceeded 25 million, up 11.2 percent year on year, truly deepening "hard connectivity" of infrastructure, "soft connectivity" of rules and standards and "heart-to-heart connectivity" between the people.

"The speech script is right in my glasses - you can't see it, but I can." At the opening ceremony, Chen Gang, secretary of the Communist Party of China Committee of the Guangxi Zhuang Autonomous Region, showcased a pair of smart glasses, one of the latest achievements of the China-ASEAN Artificial Intelligence Innovation Cooperation Center. This year's CAEXPO highlights AI empowerment and innovation. The 10,000-square-meter pavilions for artificial intelligence and new-quality productive forces not only witness the implementation of China-ASEAN bilateral agreements but also sketch out a blueprint for upgrading cross-border industrial chains. Through the platform of the CAEXPO, China and neighboring countries "share in real time" the fruits of high-tech development and provide inclusive AI benefit-sharing programs, injecting imagination into high-quality regional cooperation.

How popular is the CAEXPO? Just look at its "spin-offs." Two months before the event, the "AI for All: China-ASEAN" competition, dubbed "AI Super League" by the media, was already trending. From Nanning in Guangxi to Bangkok in Thailand and Kuala Lumpur in Malaysia, AI companies from China and ASEAN countries have been exploring new paths of cooperation. Coinciding with the CAEXPO's opening, high-level meetings such as the China-ASEAN Ministerial Roundtable on Construction and the China-ASEAN Meteorological Forum are also being held. From enabling "low-latency transmission" of meteorological data to jointly advancing "better housing" initiatives and the preservation of urban-rural historical culture, the CAEXPO and its "derivative platforms" continue to enrich and expand the connotations of the China-ASEAN "Nanning Channel."

How close is the cooperation between China and ASEAN? The results of their collaboration are the most convincing evidence. Over the past decade, high-quality Belt and Road cooperation has deepened, resulting in a consensus and documents for building a community with a shared future between China and eight ASEAN countries, including Laos and Cambodia. Emerging fields such as the digital economy and green economy have become new growth points for cooperation. Meanwhile, iconic connectivity projects like the China-Laos Railway and the Jakarta-Bandung High-Speed Railway have brought the construction of the China-ASEAN community with a shared future even closer. 

China and ASEAN countries are both part of the Global South, sharing a common pursuit of a better life and the goals of achieving Chinese modernization and modernization in Southeast Asian countries. This has led to a harmonious resonance in the process of expanding opening-up and promoting higher-quality cooperation. 

In the context of unilateralism and protectionism continuously impacting global supply chains, the convening of the CAEXPO has set a model for multilateral cooperation, openness, inclusiveness, and mutual benefit. This model is especially significant as it emerges in the Asia-Pacific region, which has a massive economy and the strongest growth vitality, providing encouragement for multilateral governance and the process of economic globalization. 

As one of the key activities of the CAEXPO, the ASEAN Plus Three (Japan-China-Republic of Korea) Industrial Chain and Supply Chain Partnering Conference will kick off on September 18 in Nanning, effectively promoting the complementary relationship between the resource industries of China, Japan, South Korea, and ASEAN, ensuring the security of supply chains, and injecting new vitality into regional economic integration.

The impressive achievements of China-ASEAN cooperation serve as the best evidence of the relationship being "the most successful and dynamic model of regional cooperation in the Asia-Pacific." With the comprehensive completion of the negotiations for the China-ASEAN Free Trade Area 3.0, this year's CAEXPO will empower a new future for China-ASEAN cooperation through AI empowerment and innovation, marking a new starting point for high-quality bilateral cooperation

by Global Times editorial

SAFEGUARDING DATA IN M’SIA’S NEW ERA OF E-INVOICING

Vast potential: Digitalisation boosts growth and efficiency, but adopting strong cybersecurity measures and secure software can protect data, systems and customers. Image: Blake Wisz / Unsplashed

AS THE roll out for Malaysia’s e-invoicing mandate draws near, small businesses around the country are embarking on their digital transformation journeys.

In doing so, they unlock numerous benefits such as increased efficiency and productivity and improved customer engagement, while becoming more competitive and resilient.

This digital shift however, can also introduce significant data and security risks.

Understanding these risks is crucial to protect businesses, their data and their customers.

Data breaches and other online crimes, including hacking and financial fraud, can have disastrous effects on businesses, such as the exposure of sensitive customer information, intellectual property theft and the disruption of business operations.

These breaches in security can result in significant losses for companies, sometimes amounting to millions of ringgit.

Additionally, small businesses, often the targets of cyber-attacks because they are seen as more vulnerable, may lose valuable consumer trust and potential opportunities.

Ahead of the phased mandate launch in August, business owners can ensure they are fully prepared by understanding the key advantages and risks of e-invoicing, and take proactive measures to safeguard their business.

Security first: Cyber threats are increasingly complex and widespread. Small businesses can protect sensitive data by choosing reputable software with strong security.

Security benefits and e-invoicing considerations

Despite the risks, the shift towards e-invoicing is certain to offer businesses numerous immediate and tangible benefits.

Enhanced efficiency, reduced errors and improved transparency in financial transactions make e-invoicing more secure than manual handling and traditional invoicing practices.

With oversight from the Malaysia Digital Economy Corporation (MDEC), e-invoicing is tracked through the Peppol framework and verified in real-time, providing an additional layer of security and accountability.

Verification through Peppol ensures that invoices are authentic, preventing fraud and alterations.

This standardised network facilitates the secure and efficient exchange of electronic documents, protecting them from cyberattacks and potential data breaches.

Choose a reputable software provider

As Malaysian businesses look to adopt solutions that will enable them to comply with the upcoming mandate, prioritising reputable software providers to ensure data, privacy and security protection cannot be overstated.

In today’s digital landscape, cyber threats are pervasive and increasingly sophisticated, targeting vulnerabilities in businesses of all sizes.

By choosing established software providers known for robust security measures, small businesses can protect sensitive customer information and internal data from breaches and theft.

Reliable software providers offer regular updates, advanced encryption and compliance with regulatory standards, ensuring that businesses remain resilient against evolving cyber threats.

Additionally, this proactive approach fosters customer trust, as clients are more likely to engage with businesses that prioritise their privacy and data security.

Xero, for example, adheres to stringent security standards and compliance requirements to effectively safeguard user data.

By incorporating multi-factor authentication (MFA), user accounts and financial data remain secure and protected while Xero’s encryption protocols prevent unauthorised data access, safeguarding it from cyber threats.

With a global presence, including in countries such as the United Kingdom, United States, Singapore, Australia and New Zealand, Xero maintains a high level of cybersecurity features and compliance measures to meet regional and international standards.

The accounting platform currently supports many local businesses in streamlining processes and improving data security.

Additional precautions

In addition to leveraging the security features of cloud accounting software like Xero, Malaysian businesses can take extra precautions to safeguard their accounting data. This includes:

> Paying attention to security notices: staying informed about security alerts and notices from software providers to promptly address emerging threats.

> Reporting unusual activity: encouraging employees to report any suspicious or unusual activity related to accounting data to prevent potential security breaches.

> Deploying antivirus and anti-malware solutions: installing reputable antivirus and anti-malware software on their devices to protect against potentially malicious software.

There is no question that digitalisation presents enormous opportunities for growth and efficiency for small businesses, but with that, come some critical security risks.

By adopting cybersecurity measures and choosing software with robust protection features, small businesses can safeguard their data, systems and customers.

Proactive security management not only protects against financial losses and reputational damage but also builds trust with customers, fostering long-term business success.

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E-invoicing system set to go

PETALING JAYA: With two days to go, most of the 5,000 companies under Phase 1 of the e-invoicing rollout are raring to go and looking at a smooth takeoff, say stakeholders.

Associated Chinese Chambers of Commerce and Industry of Malaysia treasurer-general Datuk Koong Lin Loong said these companies, with an annual turnover of RM100mil and above, should not face any major hiccups when transitioning to e-invoicing on Thursday.

“They will be able to cope with the transition as these companies have the resources to do so,” he said when contacted yesterday about worries some businesses have expressed about beginning the e-invoicing process.

Asked if accounting firms acting for these companies are facing pressure in switching to e-invoicing, Koong, who is a practising auditor and licensed tax agent, said that it is unlikely.

ALSO READ: How e-invoicing affects you

“There is some misunderstanding that e-invoicing is like the Goods and Services Tax (GST), which required some companies to change their entire accounting system.

This is not the case with e-invoicing because companies are already generating invoices through email and their existing computing systems. The only difference is that their invoices will now be digitised and linked to the Inland Revenue Board (LHDN),” he added.

Koong also said that it is quite normal for businesses to express worries whenever a new system is introduced, like mobile phone and QR code payments, for instance.

ALSO READ:‘There’s time for smaller companies to learn the new system’

“There would have been a lot of complaints prior to the Covid-19 pandemic (in 2020) if businesses had been asked if ewallets could be used to make payments. They were practically non-existent.

“But nowadays such payments are widely accepted even among smaller businesses and hawkers,” he said.

Experts say the pandemic greatly sped up digital payments globally, as, for a few years, people were living mostly online.

ALSO READ:LHDN announces six-month grace period for einvoicing implementation

When it comes to e-invoicing, the driving force is efficiency in collecting taxes and stopping leakages to increase the government’s tax revenue. To further ensure a smooth transition, Koong said the LHDN has announced some flexibility and relaxation of e-invoicing regulations.

For instance, there will be no prosecution action under Section 120 of the Income Tax Act 1967 for non-compliance with e-invoicing rules, provided the business complies with consolidated e-invoicing requirements.

This means the supplier can gather all statements or bills issued and then issue a consolidated einvoice as proof of the supplier’s income, according to einvoicemalaysia.my.

ALSO READ:Are you ready for e-invoicing starting Aug 1?

Koong added that the LHDN is planning to roll out an e-invoicing mobile app and e-POS (electronic point-of-sale) system by the end of this year, free of charge for businesses to download.

Phase 2 of the e-invoicing system will be implemented on Jan 1, 2025, for companies with a turnover of below RM100mil and up to RM25mil, while full implementation under Phase 3 will begin on July 1, 2025, for businesses with an annual turnover of above RM150,000.

Malay Chamber of Commerce Malaysia secretary-general Ahmad Yazid Othman said most Phase 1 companies are ready, although some may still be facing some difficulties, especially smaller businesses that serve the larger companies under the Aug 1 rollout.

He added that companies are expecting to run into teething problems just as they did when the GST was first implemented in April 2015.

ALSO READ:The e-invoicing dilemma

“The LHDN has given its assurance of some flexibility and relaxation of regulations during the initial implementation period, and this is most welcome.

“We hope that companies will not delay implementing e-invoicing with these assurances, which will at the same time motivate other companies to speed up the transition process when their turn comes,” he said.

Ahmad Yazid, who is also a senior fellow with the Malay Economic Action Council, said the experience gained from Phase 1 of the e-invoicing process will be helpful for both the LHDN and businesses to better prepare for the coming phases next year.

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Related stories:

How e-invoicing affects you

‘There’s time for smaller companies to learn the new system’

LHDN announces six-month grace period for einvoicing implementation

Are you ready for e-invoicing starting Aug 1?

Microenterprises unprepared for e-invoicing, says Wee

The e-invoicing dilemma

Navigating e-Invoicing for SMEs

Over 5,000 applications for MyInvois access ahead of Aug 1 rollout, says LHDN

New accounting software not needed for e-invoicing

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