The ZTE CIMB partnership took a formal step forward on April 14, 2026, as ZTE Corporation and CIMB Bank Berhad signed a Memorandum of Understanding in Kuala Lumpur to support 5G network deployment and digital infrastructure development across ASEAN.
Kevin Xiao, General Manager of Treasury and Financing Center at ZTE, and Freddy Ong, Regional Head of Corporate and Investment Banking Coverage at CIMB, signed the agreement. Steven Ge, Vice President of ZTE and Managing Director of ZTE Malaysia, and Denise Wong, Head of Corporate and Public Sector Coverage at CIMB, witnessed the signing.
Scope of the ZTE CIMB Partnership
The MoU establishes a cooperation framework covering infrastructure financing, regional network expansion, and cross-border liquidity management. The agreement extends beyond Malaysia into Indonesia, Singapore, Thailand, and Cambodia, with further regional expansion planned over time.
Both parties will also explore opportunities aligned with the ASEAN Digital Economy Framework Agreement, known as DEFA. The collaboration combines ZTE’s telecommunications technology with CIMB’s structured financial solutions to improve execution efficiency for large-scale infrastructure projects.
Building on Prior Work in Malaysia
ZTE and CIMB had already worked together in Malaysia on the country’s 5G rollout, in line with national digital initiatives. That earlier relationship also covered foreign exchange services, transaction banking, and cash management solutions.
The new MoU formalises a wider ASEAN-focused framework, building on that existing foundation. It positions both companies to support a broader range of digital infrastructure projects across the region.
Bridging the Urban-Rural Digital Divide
The expanded collaboration is expected to accelerate high-speed connectivity in underserved and rural areas across ASEAN. This directly addresses the urban-rural digital divide that remains a challenge in several markets across the region.
By pairing technical deployment capacity with banking and financing structures, the partnership aims to make large-scale infrastructure investment more scalable across multiple markets simultaneously.
What the Companies Said
“This partnership reflects a shared commitment to advancing ASEAN’s digital infrastructure and accelerating the deployment of 5G networks. By combining ZTE’s technology leadership with CIMB’s strong regional financial platform, we are well-positioned to support the region’s digital transformation journey.”
Steven Ge, Vice President, ZTE and Managing Director, ZTE Malaysia
“Integrated financial and treasury solutions are increasingly critical in enabling large-scale telecommunications projects. This collaboration enhances our ability to support customers and partners with more efficient and scalable financing structures.”
Kevin Xiao, General Manager, Treasury and Financing Center, ZTE
“As demand for next-generation connectivity and digital infrastructure accelerates across ASEAN, this collaboration positions CIMB to support ZTE’s regional expansion through integrated financing and banking solutions. Leveraging on CIMB’s ASEAN presence, we aim to enable efficient execution while strengthening client relationships through a broader suite of capabilities.”
Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB
Outlook for ASEAN Digital Infrastructure
The MoU signals a growing trend of telecommunications companies pairing with regional banks to fund and scale network infrastructure projects. ASEAN markets are seeing increased demand for high-speed connectivity, particularly as governments push forward with national digitisation agendas.
Both ZTE and CIMB said they intend to bring together operators, government agencies, regulators, and investors under this framework to drive broader digital transformation across the region.
