JAKARTA, July 25 -- A forum on the internationalization of the Chinese currency renminbi (RMB) kicked off inIndonesia's capital Jakarta on Thursday, highlighting the opportunities and prospects of RMB internationalization under the Belt and Road Initiative.
Co-organized by Bank of China Jakarta Branch and Foreign Policy Community of Indonesia (FPCI), a think tank, the forum was held under the theme 'Understanding the Growing Role of Chinese Renminbi in International Business.'
Wang Liping, economic and commercial minister counselor at the Chinese embassy inIndonesia, said in his speech that the economic and trade cooperation betweenChinaandIndonesiahas been getting closer in recent years.Chinahas been the largest trading partner ofIndonesiafor eight years and the third largest source of foreign investment forIndonesiafor three consecutive years.
Wang noted that through RMB Internationalization, RMB cross border trade settlement and RMB capital market opening-up, the two countries will further deepen the economic and trade cooperation and enhance the level of trade facilitation.