Indonesia to Build Dual International Financial Centers in Jakarta and Bali
The Indonesian government has designated Jakarta as the interim location for the Indonesia International Financial Center (PFII), with another international financial center to be built in Bali in the future. The Minister of Investment and Downstream Industry, who also serves as head of the Investment Coordinating Board (BKPM), explained the reasons for choosing Jakarta as the starting point. He stated that President Prabowo wants this institution to become operational immediately and seize development opportunities, so the headquarters is first placed in Jakarta, where infrastructure and the financial ecosystem are already mature. "The initial site is indeed in Jakarta first. Why? Because the President wants everything to run immediately and seize the moment."
Ten Indonesian Local Companies Can Produce Electric Motorcycles
China-Indonesia Cross-Border QR Code Payment Fully Interconnected
Indonesia Issues First Sovereign Panda Bond in Southeast Asia
Media Confident That Positive China-Indonesia Cooperation Continues to Rise
VinFast Leverages Chinese Battery Giants to Solve Waste Battery Challenges
rnrnVietnamese automaker VinFast's Indonesia branch is building a local electric vehicle battery waste disposal system to complete the localized ecosystem of electric mobility in Indonesia. However, at this stage, the company will not build its own battery recycling生产线, choosing instead to rely on two leading Chinese battery companies to cooperate in handling used power batteries. The head of VinFast Indonesia's training department revealed that the brand will collaborate with two strategic partners, Gotion High-Tech and CATL, to handle the recycling of used batteries from its electric vehicles. Both Chinese battery manufacturers have already set up production plants in Indonesia, equipped with the hardware and technical conditions for local disposal. All VinF
Chinese Companies Assist Bekasi's Circular Economy Industry Development
rnrnThe Bekasi City Government in West Java Province plans to transform the Bantargbang area into a circular economy industrial park, drawing on China's successful experience in innovative industry transformation. The Mayor of Bekasi made a special trip to China to inspect waste-to-energy projects (PSEL) and announced the area's redevelopment plan. The Mayor stated that the trip focused on learning from the development path of Meixin Group as a reference model. The company originally focused on textiles, then expanded into the environmental protection sector, incubating Wangneng Environment, a leading domestic waste-to-energy company. This model of leveraging core businesses to expand into related emerging industries is highly valuable for reference. The local government has already made initial contact with the company and plans to introduce its waste-to-energy plant to the Bantargbang area.
Bank of China Approved as Indonesian RMB Clearing Bank
rnrnOn June 26, the People's Bank of China officially authorized the Jakarta branch of Bank of China (Hong Kong) to serve as the Indonesian RMB clearing bank. With this, Bank of China has deployed RMB clearing services in 19 countries and regions globally, maintaining the industry's leading number of clearing outlets and further improving the global clearing network for RMB internationalization. As the largest economy in ASEAN, Indonesia's economic, trade, and investment ties with China continue to deepen. The establishment of the RMB clearing bank is an important and pragmatic outcome of China-Indonesia financial cooperation, significantly enhancing the convenience of using RMB in bilateral trade and investment, and helping to upgrade bilateral financial cooperation. Having been rooted in Indonesia for many years, Bank of China is the first and largest Chinese-funded bank in the country, and has become the core main channel for RMB clearing in Indonesia.
Debt Negotiations for China-Indonesia Jakarta-Bandung High-Speed Rail Progress Smoothly
rnrnThe Chinese Ambassador to Indonesia revealed to the media on the sidelines of the 2026 China-Indonesia Think Tank and Media Forum that the debt negotiations regarding the Jakarta-Bandung High-Speed Rail are progressing very smoothly. The Chinese side continues to maintain close communication with various relevant Indonesian ministries and agencies, and the overall negotiation process is on track. When asked about the specific content of the agreement reached between the two sides, the ambassador stated that relevant details are not yet convenient to disclose, but confirmed that all consultation procedures are advancing well. He particularly clarified the nature of the funds: the Chinese side is not directly lending to the Indonesian government, but rather the Chinese government provides funds to the China Development Bank (CDB), which then disburses the loan to support the Jakarta-Bandung High-Speed Rail (Whoosh) project. It does not constitute a direct external debt between the two governments
Indonesia to Fully Implement B50 Biodiesel on July 1, 2026
rnrnThe Indonesian Ministry of Energy and Mineral Resources announced that the new B50 biodiesel policy, containing 50% palm oil, will be fully implemented on July 1, 2026. This policy brings multiple benefits, including saving foreign exchange, supporting the palm oil industry, expanding employment, reducing emissions and environmental protection, and enhancing national energy security. Official estimates show considerable economic and social benefits. In a recent activity of the Jakarta government communication agency, a spokesperson from the Ministry of Energy stated that in 2025, Indonesia only implemented the B40 biodiesel policy with 40% palm oil blending, saving foreign exchange of 133 trillion IDR for the year; after upgrading to the B50 standard, in 2026
Prabowo Considers Purchasing Chinese-made Defense Equipment
Indonesian President Prabowo expressed important views on recent international developments and Indonesia's defense policy in an interview with Bloomberg. He stated that he was quite surprised by the attacks launched by the United States and Israel on Iran, and frankly said he could not see any rational or reasonable basis for this military action, believing it has exacerbated regional tensions. In response to external concerns that China might take action on the Taiwan issue by taking advantage of the turmoil in the Middle East, Prabowo downplayed the possibility. He pointed out that the Chinese leaders are currently focused on improving people's livelihoods and will try their best to avoid open conflict, with the likelihood of a major escalation of related tensions being low.
Indonesia Cracks Down on Import Under-Invoicing and Tax Evasion, Rectifies Import Violations
The Indonesian government is intensifying efforts to combat under-invoicing in import transactions, which severely erodes national fiscal revenue. The Minister of Finance recently stated at the Coordinating Ministry for Economic Affairs office in Jakarta that tax authorities have discovered multiple companies engaging in under-invoicing and are actively pursuing investigations. He pointed out that import under-invoicing, where companies declare transaction amounts lower than actual prices, leads to a significant reduction in tax revenue that should have been collected. In preliminary random checks, the government found the problem to be widespread: among 10 companies inspected, all were found to have under-invoicing, with very obvious signs of violation. Currently, the Ministry of Finance is still calculating the specific losses caused by such practices to the state, and the final data is expected to be released only after the complete verification is concluded.