(Jakarta, 26th) China and Indonesia are strengthening investment cooperation, with the two countries signing cooperation agreements in areas such as economic development policy, supply chains, and finance, including an investment agreement between their wealth funds.
During a visit to Indonesia, Chinese Premier Li Qiang met with Indonesian President Prabowo at the presidential palace Istana Merdeka on Sunday (May 25th), where a grand welcoming ceremony was held for Li Qiang by the presidential office.
In his speech, Prabowo stated that Li Qiang's visit is of great significance to Indonesia and affirmed the friendly and close relationship between China and Indonesia and their peoples.
This year also marks the 75th anniversary of diplomatic relations between China and Indonesia and the 70th anniversary of the historic Bandung Conference. Prabowo noted that China and Indonesia are two nations with long histories and are now comprehensive strategic partners.
Li Qiang said that China is willing to align its development strategies with Indonesia, deepen high-quality “Belt and Road” cooperation, and particularly focus on strengthening landmark projects. The two parties should enhance market connectivity and industrial collaboration, improve trade and investment facilitation levels, and expand cooperation in areas such as finance, new energy, digital economy, artificial intelligence, aerospace, and marine fields.
Following their talks, the two parties signed a series of cooperation agreements. The central banks of the two countries agreed in a memorandum of understanding to establish a framework for bilateral transactions in local currencies.
The China Investment Corporation and Indonesia's newly established sovereign fund Danantara also signed an investment agreement, although further details were not disclosed.
The Indonesian Maritime Security Agency and China's Coast Guard signed a memorandum of understanding to enhance cooperation in capacity building, information development, and maritime security. Prabowo stated that Indonesia is willing to promote regional security and prosperity and will support and accelerate the completion of the South China Sea Code of Conduct consultations.
The two countries also agreed to strengthen cooperation in tourism and the export of agricultural products.
Li Qiang arrived in Indonesia on Saturday afternoon (24th) for a three-day visit. That evening, he and Prabowo attended the China-Indonesia Business Community Dinner, attended by about 200 business representatives.
During the dinner, Prabowo commented that the bilateral relationship between China and Indonesia is of strategic significance and has great potential for development in the region.
China is Indonesia's largest trading partner, with annual bilateral trade exceeding 130 billion USD (approximately 167 billion SGD). Prabowo stated that the success of the Jakarta-Bandung high-speed rail and many large industrial and technological projects undertaken by the two countries is solid proof of their commitment to jointly creating a better future.
Prabowo also mentioned that the relationship between the two nations dates back to the early 15th century when Zheng He sailed to the West. He further added: “If you test the DNA of the Indonesian people, you'll find that we also have a significant amount of Chinese DNA.”
Xue Song, an associate researcher at the Institute of International Studies, Fudan University, pointed out in an interview with the Lianhe Zaobao that the Chinese community in Indonesia plays a key role in economic, cultural, and social progress.
“Prabowo's remarks may be aimed at strengthening the emotional ties between the Chinese and Indonesian peoples, deepening the intimacy of the relationship between the two countries, seeking to gain support from Chinese businesses for cooperation projects, while also showing his friendly attitude towards the Indonesian Chinese community.”
Scholar: Prabowo Wants to ‘Whitewash’ Anti-Chinese Historical Image; Beijing More Focused on Common Interests
Ferdika Rizky Utama, Executive Director of the Indonesian think tank Para Syndicate, stated that Prabowo's role in human rights violations during the 1998 anti-Chinese riots in Indonesia remains controversial; mentioning 'Chinese DNA' was to ‘whitewash’ his historic image and promote reconciliation and address historical disagreements.
Ferdika said Prabowo's statements reflect his attempt to strike a balance between recognizing China's significant role in Indonesia's economic development and addressing demands for accountability from domestic victims of historical events.
“For the Indonesian Chinese community, his remarks may be mere rhetoric…while Beijing authorities seem to be more focused on obtaining Indonesia's important mineral resources and other strategic advantages, appearing willing to prioritize common interests over Prabowo's past.”
During a visit to Indonesia, Chinese Premier Li Qiang met with Indonesian President Prabowo at the presidential palace Istana Merdeka on Sunday (May 25th), where a grand welcoming ceremony was held for Li Qiang by the presidential office.
In his speech, Prabowo stated that Li Qiang's visit is of great significance to Indonesia and affirmed the friendly and close relationship between China and Indonesia and their peoples.
This year also marks the 75th anniversary of diplomatic relations between China and Indonesia and the 70th anniversary of the historic Bandung Conference. Prabowo noted that China and Indonesia are two nations with long histories and are now comprehensive strategic partners.
Li Qiang said that China is willing to align its development strategies with Indonesia, deepen high-quality “Belt and Road” cooperation, and particularly focus on strengthening landmark projects. The two parties should enhance market connectivity and industrial collaboration, improve trade and investment facilitation levels, and expand cooperation in areas such as finance, new energy, digital economy, artificial intelligence, aerospace, and marine fields.
Following their talks, the two parties signed a series of cooperation agreements. The central banks of the two countries agreed in a memorandum of understanding to establish a framework for bilateral transactions in local currencies.
The China Investment Corporation and Indonesia's newly established sovereign fund Danantara also signed an investment agreement, although further details were not disclosed.
The Indonesian Maritime Security Agency and China's Coast Guard signed a memorandum of understanding to enhance cooperation in capacity building, information development, and maritime security. Prabowo stated that Indonesia is willing to promote regional security and prosperity and will support and accelerate the completion of the South China Sea Code of Conduct consultations.
The two countries also agreed to strengthen cooperation in tourism and the export of agricultural products.
Li Qiang arrived in Indonesia on Saturday afternoon (24th) for a three-day visit. That evening, he and Prabowo attended the China-Indonesia Business Community Dinner, attended by about 200 business representatives.
During the dinner, Prabowo commented that the bilateral relationship between China and Indonesia is of strategic significance and has great potential for development in the region.
China is Indonesia's largest trading partner, with annual bilateral trade exceeding 130 billion USD (approximately 167 billion SGD). Prabowo stated that the success of the Jakarta-Bandung high-speed rail and many large industrial and technological projects undertaken by the two countries is solid proof of their commitment to jointly creating a better future.
Prabowo also mentioned that the relationship between the two nations dates back to the early 15th century when Zheng He sailed to the West. He further added: “If you test the DNA of the Indonesian people, you'll find that we also have a significant amount of Chinese DNA.”
Xue Song, an associate researcher at the Institute of International Studies, Fudan University, pointed out in an interview with the Lianhe Zaobao that the Chinese community in Indonesia plays a key role in economic, cultural, and social progress.
“Prabowo's remarks may be aimed at strengthening the emotional ties between the Chinese and Indonesian peoples, deepening the intimacy of the relationship between the two countries, seeking to gain support from Chinese businesses for cooperation projects, while also showing his friendly attitude towards the Indonesian Chinese community.”
Scholar: Prabowo Wants to ‘Whitewash’ Anti-Chinese Historical Image; Beijing More Focused on Common Interests
Ferdika Rizky Utama, Executive Director of the Indonesian think tank Para Syndicate, stated that Prabowo's role in human rights violations during the 1998 anti-Chinese riots in Indonesia remains controversial; mentioning 'Chinese DNA' was to ‘whitewash’ his historic image and promote reconciliation and address historical disagreements.
Ferdika said Prabowo's statements reflect his attempt to strike a balance between recognizing China's significant role in Indonesia's economic development and addressing demands for accountability from domestic victims of historical events.
“For the Indonesian Chinese community, his remarks may be mere rhetoric…while Beijing authorities seem to be more focused on obtaining Indonesia's important mineral resources and other strategic advantages, appearing willing to prioritize common interests over Prabowo's past.”