Prime Minister Mahathir Mohamad says he will visit Beijing next month to renegotiate "unfair" terms for China-backed projects in Malaysia worth more than USD 22 billion.
The Finance Ministry said yesterday it has ordered Chinese contractors building the USD 20 billion East Coast Rail Link, a key venture under China's Belt and Road initiative, as well as two gas pipeline projects to stop work pending negotiations. It says the decision was not targeted at any country.
The contracts were signed by former Prime Minister Najib Razak's government that lost a May 9 election.
Mahathir said today he will visit China in August as President Xi Jinping is unavailable this month. He says he will raise the issue of the unfair terms of the Chinese contracts and Chinese loan.