"About $500 billion of Chinese investments are going out of the country in the next five years. The challenge for us is to obtain a small share of this $500 billion's investments," he added.

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Referring to tourism as another area the two countries can promote, Mustapa said Malaysia also hoped to receive more Chinese tourists.

Last year, about two million Chinese tourists came to Malaysia, and this year Malaysia hopes to be able to receive more Chinese tourists, he said.

"Of course we acknowledged that MH370 has some impact on arrivals of Chinese tourists to Malaysia. But we believe it is just a temporary phenomenon," he added.

The minister told Xinhua that Malaysia is taking many measures to promote its economic and trade cooperation with China. "We would like to have more seminars in China. We've been participating in the China-ASEAN Expo in Nanning. This year we are going to participate actively in the China International Fair for Investment and Trade," he said.

Moreover, he said it is also important to implement the agreements signed between the two countries, which he has been monitoring by himself.

The minister also said Malaysia is very supportive of the initiative of building the Maritime Silk Road in the 21st century put forward by China. He said this is a very comprehensive initiative covering development in China, Malaysia and many other ASEAN countries, promising that Malaysia will be working closely with the Chinese authorities to ensure this proposal will further enhance the two countries' bilateral ties.