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Ambassador Xiao Qian Attended the Forum of "Enhancing the Power of Indonesia Capital Market"and delivered a speech

On January 8, 2020, Ambassador Xiao Qian attended the forum of "Enhancing the Power of Indonesia Capital Market" and delivered a speech. Coordinating Minister of Maritime and Investment Affairs of Indonesia, H.E. Mr. Luhut Binsar Pandjaitan, Chairman of Indonesia Investment Coordinating Board, H.E. Mr. Bapak Bahlil Lahadalia, President Director of Indonesia Stock Exchange, Mr. Inarno Djajadi and Chairman of China Chamber of Commerce in Indonesia, Country Manager of Bank of China Jakarta Branch,Mr.Zhang Chaoyang attended the forum and delivered speeches.

Ambassador Xiao said, in recent years, under the leadership of President Xi Jinping and President Joko Widodo, China-Indonesia relations had embarked on a fast track of development. China had been Indonesia’s largest trading partner and export destination for many consecutive years. China had become the largest export market for Indonesia’s palm oil, bird’s nest, steel and coal, as well as a major export destination for Indonesia’s mangosteen and rubber. The bilateral cooperation on infrastructure had maintained strong momentum of growth. The landmark project of Jakarta-Bandung High Speed Rail, had started full implementation and construction. The bilateral investment cooperation had grown rapidly despite its late start. In the first three quarters of 2019, China’s direct investment in Indonesia reached 3.3 billion US dollars, which had increased by 83% year-on-year, China had become Indonesia’s second largest foreign investor. 2020 marked the 70th anniversary of diplomatic ties between China and Indonesia, at this new historical juncture, strengthening capital market would open up new space for China-Indonesia business relations and inject new impetus into the bilateral cooperation.

Mr. Luhut Binsar Pandjaitan said that Indonesia was simplifying investment procedures and actively improving the business environment to attract more investment. China had become an important trade and investment partner of Indonesia. China actively participated in infrastructure projects such as Jakarta-Bandung high-speed railway project and toll road projects. Many direct investments from Singapore were actually proxies of investment coming from China, and many Chinese investment projects in Indonesia had strongly promoted Indonesia's export. The Indonesian government welcomed Chinese companies to invest and develop in Indonesia, and looked forward to more opportunities for economic and trade cooperation between the two countries in the future.

This forum was organized by Indonesia Stock Exchange (IDX), China Chamber of Commerce in Indonesia and Bank of China Jakarta Branch. About 200 representatives from China’s enterprises in Indonesia, Indonesian entrepreneurs and media attended the forum.

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