China raises stakes in Indonesia

ICBC's renminbi loan to Bakrie Telecom represents further Chinese commitment to investment in Indonesia.

China’s footprint in Indonesia continues to grow. The two countries have obvious mutual interests Indonesia has natural resources that China desperately needs, and it has an urgent requirement for investment in those resources and infrastructure, which China can provide.

Although the headline news last week was in a different sector, it was no less notable. It demonstrated the seriousness of Chinese commitment to the sprawling archipelago.

On August 12, the Industrial and Commercial Bank of China ICBC agreed to lend Bakrie Telecom the renmninbi equivalent of $300 million, to help the Indonesian telecom operator finance future capital spending. It was the first time a Chinese bank has extended a renminbi loan...

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