China, Indonesia Sovereign Wealth Funds Boost Investment Ties

China and Indonesia agreed to step up ties between their economies during Premier Li Qiang’s visit to Jakarta, including one on investment involving their sovereign wealth funds.

Both their central banks signed a MOU on a framework for bilateral transactions in local currencies during a ceremony witnessed by Li and President Prabowo Subianto on Sunday. The two countries will boost cooperation on tourism and agricultural exports, while wealth funds China Investment Corporation and Danantara Indonesia entered an investment agreement. No details were provided.