Prime Minister Najib Abdul Razak who is on a six-day visit to China today denied that the various deals signed are akin to Malaysia being sold off.

He vowed that the infrastructure projects will remain owned by Malaysia and operated by Malaysians.

"There seems to be some who don't appear to welcome this investment in the Malaysian economy, and don't seem to want the resulting jobs, skills and improvement in people's lives.

"Some have scare mongered that Malaysia is being sold off. This is absurd and absolutely false," Najib said in a statement.

All in all, 14 business-to-business memorandum of understanding (MoUs) and agreements worth RM143.64 billion were signed with China. In addition, they also inked 16 government-to-government MoUs and agreements.

This includes the controversial RM55 billion East Coast Rail Link which Najib said would completely transform the landscape of the east coast of Peninsular Malaysia, and ensure the fruits of the country's development were equitably shared.

Another deal was the Trans Sabah Gas Pipeline, which will provide energy security, and accelerate the economic development for Sabahans.

Najib said this was a huge vote of confidence for the two countries’ economies and the goodwill and trust built between them.

“This week’s visit has enhanced our friendship in many key areas, including trade, defence, security, culture and people-to-people connectivity.”

The PM also said the defence deal between Malaysia and China would see the construction of four littoral mission ships.

“This will help deepen security ties between our two nations. We need to work shoulder to shoulder to counter security and extremist threats in our region,” said Najib.

Stronger economic ties

Najib further said the inked deals would boost Malaysia's economy and help provide the people with better opportunities and a more prosperous life.

“These agreements are truly for all our people. They are just as much for the thousands of swiftlet farmers and half a million oil palm smallholders as they are for well-known corporations.

“The agreements will result in ever stronger economic ties between China and Malaysia, and bring tangible benefits to our people for decades to come. Not just new jobs and improved transport, but also more sustainable power sources and greater security along our coastline,” he said.

Najib's father, the second prime minister Abdul Razak Hussein was the first leader from Asean to establish ties with China, and the PM described China and Malaysia's relationship as special.

“I am confident that the relationship between our countries will continue to go from strength to strength as both nations assume their rightful role – driving progress and development together in this, the Asian century,” he said.