China asks for 'friendly consultation' in Malaysia dispute

BEIJING — China's government has expressed hope Malaysia's dispute with a state-owned Chinese company building two multimillion-dollar gas pipeline projects can be resolved through "friendly consultation."

A foreign ministry spokesman said Tuesday the project being built by a subsidiary of China National Petroleum Corp. was "carried out in accordance with the contract."

Malaysian Prime Minister Mahathir Mohamad said Monday his government had seized over 1 billion ringgit ($243) from the bank account of China Petroleum Pipeline Bureau because the projects worth 9.4 billion ringgit ($2.3 billion) had been cancelled. He said Malaysia was entitled to it as 80 percent of the cost had been paid but only 13 percent of work done.

Chinese spokesman, Geng Shuang, said "for problems arising in cooperation, the two sides should properly resolve them through friendly consultation."

You may also interested in

China imports grow in August for 1st time in 2...

Sep 8, 2016

China trade showed unexpected strength in August in a positive sign for global economic growth

China's electric vehicle industry shaken by...

Sep 13, 2016

China's electric vehicle industry, a flagship for Beijing's technology ambitions, has been rocked...

Asian markets lower after Wall Street decline

Sep 15, 2016

Asian stock markets were mostly lower Thursday following Wall Street's decline in light trading...

Asian stocks rise after Wall Street gains

Dec 21, 2016

Asian stocks are higher after U.S. stocks rose to record levels despite attacks in Germany and...

China begins to ease its 2,000-year-old monopoly...

Jan 3, 2017

China has started an overhaul of its salt industry, easing a monopoly that has existed in some form...

Subscribe To Our Newsletter