Malawi President Peter Mutharika courts China at his swearing-in

Malawi, traditionally dependent on Western aid donors, would look for "new friends" in countries such as China and Russia, new President Peter Mutharika said at his inauguration.

The ceremony at a stadium in the commercial capital Blantyre was boycotted by outgoing president Joyce Banda, who was soundly beaten by Mutharika in disputed elections on May 20.

Mutharika, who takes power in one of the world's poorest countries, where 40 per cent of the budget comes from aid, said the donor nations were "welcome to stay here".

Foreign policy would be based on what was best for Malawi, he said. "We will continue with traditional relationships, but we are now looking for new friends in emerging economies such as Brazil, China, India, South Africa and Russia," he said.

Britain and the US have pledged to work with him.

Mutharika said he regretted Banda's absence, saying she had "declined to come here and hand over power to me".