Indonesia Invites Chinese Investors to Expand Business.

The Indonesian government is extending an invitation to Chinese investors, particularly those from Shandong province, to consider expanding their business operations in Indonesia. The Indonesian Embassy in Beijing recently hosted a Business Forum, which brought together approximately 50 companies from Shandong and neighboring regions. The forum provided a platform for discussion on potential opportunities in various sectors, including green energy, biotechnology, pharmaceuticals, artificial intelligence (AI), automotive, food, and agriculture. The Indonesian ambassadors underscored the significance of enhanced economic collaboration and expressed their enthusiasm for partnering with businesses and industries in Shandong. They praised Qingdao's strategic focus on investing in infrastructure, high-tech, and emerging strategic industries. The Indonesian Minister of Transportation and the Indonesian Minister of Maritime Affairs and Fisheries have also identified potential collaboration opportunities with autonomous technology and fishery product companies in Shandong. The data presented at the forum demonstrated that bilateral trade between Indonesia and China reached a value of US$139.41 billion in 2023.

KBRI Beijing Buka Jalan China Perluas Bisnis di Indonesia (investor.id)

China Launches New Property Stimulus: Targets 4 Trillion Yuan.

China is planning to expand its list of eligible housing projects in order to provide much-needed stability to its declining property sector. Minister of Housing and Urban-Rural Development Ni Hong has set a goal of providing 4 trillion yuan ($562 billion) in bank loans for property construction by the end of the year. The strategy includes accelerating the redevelopment of cities and incorporating one million neighborhoods into the plan, which is expected to absorb existing housing stock. Additionally, China intends to provide further financial assistance to developers experiencing difficulties and to facilitate urban redevelopment. Ni believes that the property market has reached its lowest point. Over the past year, China has implemented a series of policies designed to bolster consumer confidence and address concerns over declining home prices and delayed deliveries. The precise number of homes sold has not been disclosed.

China Anggarkan 4 Triliun Yuan Biayai Proyek Properti (kontan.co.id)

ECB Cuts Interest Rates: Three Times in a Year.

The European Central Bank (ECB) has reduced interest rates for the third time this year, indicating a shift in focus from inflation reduction to economic growth protection. This action follows two consecutive years of economic growth in the United States outpacing that of the Eurozone. The decision was influenced by recent economic data, including lower-than-expected business activity, sentiment surveys, and inflation readings for September. The quarter-point reduction brings the interest rate paid by the ECB on bank deposits to 3.25%. Analysts project that three additional rate cuts will be implemented by next March. The ECB did not provide any indication of future steps, stating that decisions will be made based on incoming data. Furthermore, the statement indicated that policy rates will remain tight for as long as necessary. Following the decision, the euro saw a rally.

Ekonomi Suram, ECB Memangkas Suku Bunga Acuan Tiga Kali Berturut-turut (kontan.co.id)