(Jakarta) Zhang Jinxiong, chairman of Indonesian Chinese General Chamber of Commerce, disclosed: In the past six years, more than 50 companies have been successfully listed on the Indonesian Stock Exchange every year. Since 2000, the Indonesian stock market denominated in local currency has risen nearly 10 times! It is worth mentioning that the Indonesian stock market is more attractive to foreign investors. Data shows that foreign institutions hold 46% of the shares, which has long exceeded domestic institutions and retail investors in Indonesia.
He said: Both Indonesia and China's capital markets still have great development potential. China's capital market has been ranked second in the world. Since the establishment of the Shanghai Stock Exchange and the Shenzhen Stock Exchange in the 1990s, the capital market in mainland China has developed rapidly, providing important support for China's financial system and economic development.
Zhang Jinxiong said this at 4:30 pm on Wednesday when he delivered a speech at the exchange meeting when the Indonesian Chinese General Chamber of Commerce received the managers of China Southern Fund and Huatai Fund.
A delegation of 16 managers from China Southern Fund and Huatai Fund visited the leadership of Indonesian Chinese Entrepreneur Association on this day, and sought opportunities for future cooperation through contacts and exchanges.
The delegation of 16 people from China Southern Fund and Huatai Fund included Shi Bo, manager of equity investment department of China Southern Fund, Jin Lanfeng, manager of equity investment department of China Southern Fund, Fan Jiale, manager of equity investment department of China Southern Fund, Zhu Weihao, manager of equity research department and cycle group leader of China Southern Fund, Zhao Shun, manager of consumption group leader of China Southern Fund, Li Jinzhe, manager of China Southern Fund, Li Xiang, researcher of China Southern Fund, Liang Jiashuo, researcher of China Southern Fund, Liu Wei, investment manager of China Southern Fund, Zheng Yingying, manager of international department of China Southern Fund, Wang Shicong, manager of international department of China Southern Fund, Xiong Xiaoya, chief of consumption department of Huatai, Fan Junhao, chief of Huatai Machinery, Ni Zhengyang, sales manager of Huatai, Liu Chang, and Yang Siyan, sales manager of Huatai.
Manager Shi Bo and his delegation were warmly welcomed by Zhang Jinxiong, Chairman of Indonesian Chinese Entrepreneur Association, Zhou Weiliang, Secretary-General, Xu Jinxiang, Honorary Chairman of Indonesian Chinese Entrepreneur Association, Wang Zhenkun and Liang Yuanan, members of the Supervisory Committee, Xu Shijing and Xue Tianzeng, Vice Chairman, Guan Minquan, Lin Songshi, Weng Hualing and Ji Guozhang, and Yang Xinsheng, Deputy Secretary-General.
The two sides had a cordial exchange of more than 90 minutes in the conference hall of Indonesian Chinese Entrepreneur Association, sharing their business experience and financial knowledge, and benefited a lot.
In his welcome speech, Chairman Zhang Jinxiong said: On behalf of Indonesian Chinese Entrepreneur Association, I warmly welcome all colleagues in the financial industry to come to our Association and come to our beautiful Indonesia!
He pointed out: Indonesia is located in Southeast Asia and is the largest archipelago country in the world. It has more than 17,000 islands of various sizes. It is a veritable "country of ten thousand islands" with a pleasant climate and abundant products. As the largest economy in ASEAN, Indonesia's GDP in 2024 will be approximately US$1.4 trillion, with an average annual growth of 5.1% over the past decade. It has been rated as "one of the most resilient emerging markets in the world" by the International Monetary Fund's Emerging Markets Organization.
"As the world's fourth most populous country, Indonesia has a total population of over 280 million, more than half of whom are young people under the age of 30, and the labor force aged 15 to 65 accounts for about 70%. The size of the middle class exceeds 50 million. The superior demographic dividend has given rise to a huge demand for consumption upgrades."
"In addition, Indonesia is also blessed with unique resource endowments. It has the world's largest nickel ore reserves, the world's leading export volume of bulk commodities such as palm oil and coal, and has the world's largest geothermal resource potential, which has laid a good energy foundation for Indonesia's economic development."
Zhang Jinxiong pointed out: The Indonesian government has always regarded attracting foreign investment as a strategic priority. Since the implementation of the "Comprehensive Law on Job Creation" in 2020, the process and time for registering companies have been greatly shortened, and preferential policies such as corporate income tax reductions and tax exemptions have been provided to foreign capital, with a focus on supporting priority development areas such as digital economy, new energy, and downstream industries.
The Indonesian government has further opened up foreign investment in the "2023 Negative Investment List", allowing ports, energy, telecommunications and other fields to be 100% controlled by foreign capital.
He said: As the second largest capital market in ASEAN, the Jakarta Stock Exchange (IDX) currently has a total market value of more than US$700 billion and more than 900 listed companies. In the past six years, more than 50 companies have successfully listed on the Indonesian Stock Exchange each year. Since 2000, the Indonesian stock market denominated in local currency has risen nearly tenfold!
Zhang Jinxiong said: We believe that Southern Fund and Huatai Securities, with their deep expertise and strength accumulated in the Chinese capital market, will also make great achievements in the Indonesian capital market.
He said: As a bridge and link between the business communities of the two countries, our Indonesian Chinese Entrepreneur Association will continue to provide necessary support and assistance for the cooperation between the two sides and jointly promote the prosperity and development of our economies and financial markets.
