Preface:

Indonesia is the most populous country and has the largest economy in ASEAN, and it is also a key part of the 21st Century Maritime Silk Road. In recent years, economic and trade exchanges between China and Indonesia have become increasingly close.

This year marks the 10th anniversary of the establishment of a comprehensive strategic partnership between China and Indonesia, as well as the 10th anniversary of the "Belt and Road" initiative.

Under the Belt and Road Initiative's framework, the two countries have engaged in a wide range of cooperation in the areas of economy and trade, infrastructure, and cultural exchanges. This has promoted connectivity, business development, and has provided impetus to the prosperity and stability of the Asia-Pacific region.

Yavang High-Speed Railway: The "Golden Signboard" of China-Indonesia Cooperation in the "Belt and Road"

On October 17, the G1137 train departed from Halim Station in Jakarta, Indonesia, officially launching the Jakarta-Bandung High-Speed Railway. With a maximum operating speed of 350 kilometers per hour, the train can travel between the two cities in as little as 46 minutes. This signifies Indonesia's entry into the era of high-speed rail and represents a significant landmark achievement of the "One Belt, One Road" initiative, a joint endeavor by Indonesia and China.

The Yavang High-Speed Railway is the first high-speed rail line in Indonesia and Southeast Asia. It is also a flagship project of China's "Belt and Road" Initiative and Indonesia's "Global Maritime Fulcrum" concept, showcasing the practical cooperation between the two countries. The entire line employs Chinese technology and adheres to Chinese standards.

Since the opening of the Yavang High-Speed Railway, it has stimulated the development of local tourism and new industries. This has attracted many investors and tourists, creating more job opportunities for the local population and fostering economic cooperation and trade exchanges between China and Indonesia, leading to a mutually beneficial and win-win situation for both economies.

Multi-billion Dollar Contracts: A Testament to China-Indonesia Cooperation

According to The Jakarta Post, dozens of Indonesian and Chinese companies signed contracts worth tens of billions of dollars during the Belt and Road Summit for International Cooperation. Notably, Indonesian and Chinese companies will collaborate to build a solar photovoltaic factory in Indonesia's Kendall Industrial Park in Central Java, valued at $100 million, which will be the largest solar cell and panel factory in Indonesia.

Additionally, the "China-Indonesia Economic, Trade, and Investment Forum" was held on the afternoon of October 19 at the Jakarta International Exhibition Hall Conference Center in Indonesia.

At the forum, Widiyanoto Saputro, Deputy Chairman of the Industry Committee of the Indonesian Chamber of Commerce and Industry, stated in his speech that 2045 will mark the 100th anniversary of Indonesia's independence. The Indonesian government plans to usher in a golden age of economic development over the next 22 years, aiming to become one of the world's most important economies by actively promoting a sustained economic upturn. During this period, Indonesia looks forward to realizing an innovative development model in partnership with China, enabling both economies to grow together.

Trade Volume Growth: A Decade of Progress

China's investment in Indonesia has expanded, becoming the second-largest source of foreign investment in the country. In 2022, China's direct investment in various sectors in Indonesia reached $21.5 billion, accounting for a quarter of the total foreign investment attracted by Indonesia. If this trend continues, China is likely to become the largest contributor to FDI in Indonesia in the next few years.

People-to-People Exchanges and Infrastructure Development

Over the past decade, exchanges between the peoples of China and Indonesia have flourished, with the number of Chinese tourists visiting Indonesia reaching 2.07 million in 2019, making China the main source of foreign tourists in Indonesia.

Infrastructure cooperation between the two countries has also made significant progress, with China actively supporting President Joko's "maritime highway" initiative and participating in the construction of strategic and major infrastructure projects, including roads, railroads, and ports.

Digital Silk Road and Emerging Industries

The past decade has seen Indonesian products gain a stronger foothold in the Chinese market, facilitated by increasingly convenient transportation and sales networks. The Digital Silk Road has bolstered cooperation in emerging sectors, with e-commerce, shared mobility, and internet finance experiencing rapid growth. High-tech products from companies such as Huawei, Xiaomi, Vivo, and Oppo are now ubiquitous in Indonesia.

Summary

Indonesia, a regional power with rapid economic development and growing international influence, has always been a priority in China's diplomatic agenda. There is ample reason to anticipate that the next decade of the comprehensive strategic partnership between China and Indonesia, as well as their cooperation in the "Belt and Road" initiative, will be even more successful.