The economic and trade relations between China and Indonesia have been booming. Li Hongwei, Minister Counsellor of the Chinese Embassy in Indonesia, stated on the 10th that China has been Indonesia's largest trading partner for 13 consecutive years, and among the top three sources of foreign investment in Indonesia for 10 consecutive years.
According to a China News Service report, Chinese statistics show that in 2025, bilateral trade between China and Indonesia historically surpassed the $150 billion mark, reaching $167.49 billion (about 664.9 billion ringgit); while Indonesian statistics show that in 2025, China's direct investment in Indonesia reached $7.5 billion (about 29.78 billion ringgit).
A 'Multilateral Local Currency Settlement Promotion Event' was held in Jakarta that day. Li Hongwei pointed out that since the establishment of the bilateral local currency settlement framework between China and Indonesia in 2020, the mechanism has operated smoothly with active transactions. The central banks of both countries have renewed the currency swap agreement multiple times, expanding the scale to 400 billion yuan. The cross-border payment QR code mutual recognition pilot has also been launched, bringing more convenient, efficient, and secure payment experiences to enterprises and residents of both countries. Financial cooperation such as local currency settlement is providing strong support for bilateral economic and trade exchanges.
Li Hongwei stated that the Chinese side is willing to deepen monetary and financial cooperation with all parties, and called for continuous improvement of the local currency settlement network, maintenance of regional financial stability, enhancement of regional financial resilience, and promotion of high-quality regional economic development through high-level financial cooperation.