bodyType

customContents

entityId

printArticlePageQuery

filter

article

body

urlAlias

articleSectionsContent

articleSeoArticle

articleSourceHeaderArticle

contentSchemaRenderContent

contentSubHeadlineContent

contentHeadlineContent

mainImagePrintArticleArticle

authorBlockPrintArticleArticle

contentSponsorTagContent

articlePianoPaywallContent

scmpYoutubeContent

hooksTrackPageViewArticle

query printArticlePageQuery(
  $entityId: String!
  $customContents: [CustomContentInput]
  $bodyType: BodyFormatTypeEnum
) {
  article(filter: {entityId: $entityId}) {
    entityId
    body(customContents: $customContents, type: $bodyType) {
      json
    }
    urlAlias
    ...articleSectionsContent
    ...articleSeoArticle_3o8td4
    ...articleSourceHeaderArticle
    ...contentSchemaRenderContent
    ...contentSubHeadlineContent
    ...contentHeadlineContent
    ...mainImagePrintArticleArticle
    ...authorBlockPrintArticleArticle
    ...contentSponsorTagContent
    ...articlePianoPaywallContent
    ...scmpYoutubeContent
    ...hooksTrackPageViewArticle
    id
  }
}

fragment articlePianoPaywallContent on Content {
  __isContent: __typename
  ...hooksPaywallPromiseContent
}

fragment articleSectionsContent on Content {
  __isContent: __typename
  sections {
    value {
      ...helpersCheckIfNewsSectionInFirstIndexSection
      ...entityLink
      name
      id
    }
  }
}

fragment articleSeoArticle_3o8td4 on Article {
  ...hooksArticleSeoArticle
  ...helpersCheckIsPostiesArticle
  ...helpersGetArticleTypeArticle
  entityId
  publishedDate
  updatedDate
  summary {
    text
  }
  subHeadline {
    text
  }
  body(customContents: $customContents, type: $bodyType) {
    text
  }
  keywords
  sections {
    value {
      name
      id
    }
  }
  topics {
    name
    entityId
    id
  }
  urlAlias
  authors {
    name
    id
  }
  images {
    style(filter: {style: "768x768"}) {
      url
    }
  }
  readingTime
}

fragment articleSourceHeaderArticle on Article {
  urlAlias
  ...entityLink
}

fragment authorBlockPrintArticleArticle on Article {
  ...defaultArticleDateContent
  ...authorNamesArticle
}

fragment authorNameAuthor on Author {
  ...entityLink
  name
  entityUuid
}

fragment authorNamesArticle on Article {
  authorLocations
  authors {
    entityId
    location
    ...authorNameAuthor
    id
  }
}

fragment blockquoteQuoteContent on Content {
  __isContent: __typename
  ...contentShareWidgetContent
}

fragment checkersCheckContentContainsStarlingImageContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment contentHeadlineContent on Content {
  __isContent: __typename
  headline
  socialHeadline
  ...contentHeadlineTagContent
  ...helpersUseContentSponsorContent
}

fragment contentHeadlineTagContent on Content {
  __isContent: __typename
  ...hooksContentHeadlineTagContent
}

fragment contentNewsletterWidgetContent on Content {
  __isContent: __typename
  topics {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
    id
  }
  sections {
    value {
      relatedNewsletters {
        ...helpersMassageToNewsletterItemNewsletter
        id
      }
      id
    }
  }
  ... on Article {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
  }
}

fragment contentSchemaRenderContent on Content {
  __isContent: __typename
  ...blockquoteQuoteContent
  ...imageContent
  ...inlineWidgetContent
  ...photoGalleryWidgetContent
  ...scmpYoutubeContent
}

fragment contentShareWidgetContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  shortUrl
  socialHeadline
  headline
}

fragment contentSponsorTagContent on Content {
  __isContent: __typename
  ...helpersUseContentSponsorContent
}

fragment contentSubHeadlineContent on Content {
  __isContent: __typename
  subHeadline {
    json
  }
  summary {
    json
  }
  ...contentSchemaRenderContent
}

fragment defaultArticleDateContent on Content {
  __isContent: __typename
  ...hooksArticleDateUtilsContent
}

fragment entityLink on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  __typename
  entityId
  entityUuid
  urlAlias
  urlRedirect {
    toUrl
    id
  }
  application {
    entityId
    id
  }
  ... on Section {
    fullSectionPath {
      entityId
      id
    }
    parentSection
  }
  ...helpersAppBarVariantBase
  ...helpersApplicationBase
  ...helpersCheckIsPlusArticle
  ...helpersStyleSectionContent
}

fragment helpersAppBarVariantBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsLiveArticle
  ...helpersCheckIsPlusPage
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...helpersSectionContent
  ...helpersStyleSectionContent
}

fragment helpersApplicationBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPlusPage
}

fragment helpersCheckIfNewsSectionInFirstIndexSection on Section {
  name
}

fragment helpersCheckIsAmpEnabledArticle on Article {
  entityId
  types {
    value {
      entityId
      id
    }
  }
  sections {
    value {
      entityId
      id
    }
  }
  disableOffPlatformContent
  sponsorType
  published
  ...helpersCheckIsPlusArticle
  ...helpersCheckIsPostiesArticle
}

fragment helpersCheckIsLiveArticle on Article {
  flattenTypeIds
  liveArticle {
    status
    id
  }
}

fragment helpersCheckIsMainTopicContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment helpersCheckIsPlusArticle on Content {
  __isContent: __typename
  ... on Article {
    paywallTypes {
      entityUuid
      id
    }
  }
}

fragment helpersCheckIsPlusPage on Page {
  urlAlias
}

fragment helpersCheckIsPostMagazineArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesPage on Page {
  urlAlias
}

fragment helpersCheckIsStyleArticle on Content {
  __isContent: __typename
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersGetArticleTypeArticle on Content {
  __isContent: __typename
  ... on Article {
    types {
      value {
        entityId
        id
      }
    }
  }
}

fragment helpersMassageToNewsletterItemNewsletter on Newsletter {
  entityId
  name
  alternativeName
  description {
    text
  }
  summary {
    text
  }
  homepageDescription {
    text
  }
}

fragment helpersSanitizeArticleTypeEntityIdsArticle on Article {
  types {
    value {
      entityId
      id
    }
  }
}

fragment helpersSanitizeAuthorTypesArticle on Article {
  authors {
    types
    id
  }
}

fragment helpersSanitizedAuthorEntityIdsArticle on Article {
  authors {
    entityId
    id
  }
}

fragment helpersSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersStyleSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersUseContentSponsorContent on Content {
  __isContent: __typename
  topics {
    entityId
    sponsor {
      ...sponsorTagSponsor
      name
      type
      id
    }
    id
  }
  ... on Article {
    sponsorType
  }
  ...helpersCheckIsMainTopicContent
}

fragment hooksArticleDateUtilsContent on Content {
  __isContent: __typename
  createdDate
  publishedDate
  updatedDate
}

fragment hooksArticleSeoArticle on Article {
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...hooksContentHeadlineTagContent
  ...helpersCheckIsAmpEnabledArticle
  entityId
  headline
  socialHeadline
  types {
    value {
      entityId
      id
    }
  }
  authors {
    entityId
    id
  }
  images {
    generic_og: style(filter: {style: "og_image_scmp_generic"}) {
      url
    }
    styles(filter: {styles: ["og_image_posties_article", "og_postmag", "og_image_style", "og_image_scmp_analysis", "og_image_scmp_explainer", "og_image_scmp_editorial", "og_image_scmp_fact_check", "og_image_scmp_debate", "og_image_scmp_live", "og_image_scmp_obituary", "og_image_scmp_opinion", "og_image_scmp_review", "og_image_scmp_series", "og_image_scmp_generic"]}) {
      url
      style
    }
    type
  }
  urlAlias
}

fragment hooksContentHeadlineTagContent on Content {
  __isContent: __typename
  __typename
  ... on Article {
    types {
      value {
        name
        entityId
        description {
          text
        }
        id
      }
    }
    ...helpersCheckIsStyleArticle
  }
  flag
  sections {
    value {
      name
      id
    }
  }
  ...hooksContentHelperContent
}

fragment hooksContentHelperContent on Content {
  __isContent: __typename
  ...helpersSanitizeArticleTypeEntityIdsArticle
  ...helpersSanitizeAuthorTypesArticle
  ...helpersSanitizedAuthorEntityIdsArticle
  flag
}

fragment hooksPaywallPromiseContent on Content {
  __isContent: __typename
  entityId
  ...helpersCheckIsPostiesArticle
}

fragment hooksTrackPageViewArticle on Article {
  entityId
  publishedDate
  headline
  sections {
    value {
      name
      id
    }
  }
  urlAlias
  authors {
    name
    id
  }
  entityUuid
}

fragment imageContent on Content {
  __isContent: __typename
  headline
  ...checkersCheckContentContainsStarlingImageContent
}

fragment inlineWidgetContent on Content {
  __isContent: __typename
  ...contentNewsletterWidgetContent
}

fragment mainImagePrintArticleArticle on Article {
  images {
    title
    url
    isSlideshow
    size_652x446: style(filter: {style: "652x446"}) {
      url
    }
  }
}

fragment photoGalleryDialogContent on Content {
  __isContent: __typename
  __typename
  ...contentShareWidgetContent
}

fragment photoGalleryWidgetContent on Content {
  __isContent: __typename
  ...photoGalleryDialogContent
}

fragment scmpYoutubeContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  publishedDate
}

fragment sponsorTagSponsor on Sponsor {
  name
  type
  images {
    url
  }
}


sections

types

disableOffPlatformContent

sponsorType

published

headline

socialHeadline

authors

images

publishedDate

updatedDate

summary

subHeadline

keywords

topics

readingTime

authorLocations

entityUuid

Amy Chew

The use of China’s yuan in Indonesia has been gaining momentum in recent years on the back of infrastructure projects linked to Beijing’s Belt and Road Initiative and the growing number of Indonesian companies doing business with those in China.
Over the past decade, China has emerged as Indonesia’s largest trading partner, with bilateral trade reaching US$79.4 billion in 2019 – a tenfold increase on the figure in 2000, according to data provided to The Jakarta Post by Xiao Qian, the Chinese ambassador to the country.
He added that more than 2 million Chinese tourists per year had visited Indonesia in recent years, while China is also the second-largest host of Indonesian students, with more than 10,000 studying in the country.
Dino Patti Djalal – a former deputy foreign minister of Indonesia and founder of the informal China Policy Group of officials, academics and policy experts – said this fast growing trade volume had made it “more attractive” for Indonesian companies to use renminbi when dealing with Chinese firms, as “in the first place, the Chinese are pushing for this”.
The yuan will be one of the world’s main payment currencies in the future
Kimin Tanoto, Indonesia’s Gunung Steel Group
However, he noted that some Chinese companies still prefer “having US dollars in the bank given its relative strength”.
“Indonesia’s business community has also noted that more and more countries are starting to use renminbi for foreign currency reserves,” he said, adding that China was the second-largest foreign investor in the country last year with US$4.7 billion in investments – behind only Singapore, which pumped some US$6.5 billion into its Southeast Asian neighbour’s economy in 2019, according to figures released by Indonesia’s National Investment Coordinating Board in January.
Currently, Indonesia‘s trade with China is more than twice its trade with the United States and “given the large margin, it does not look possible for the US to overtake China in terms of its trade relations with Indonesia”, Djalal said.

Though he noted “some concerns in using renminbi” owing to uncertainties brought on by the seemingly ceaseless US-China trade war, he predicted that the currency would be used “more and more by Asean economies” – especially as China’s economy was one of the few to rebound in the second quarter following the massive shock brought on by the coronavirus pandemic.
“This means that Indonesian exports to China have not been as seriously affected as exports to other countries. It means there is a lot of hope pinned on China in terms of [Indonesia’s] economic recovery,” said Djalal, who is also a former Indonesian ambassador to the US and founder of the Foreign Policy Community of Indonesia think tank.
After a year-on-year contraction of 6.8 per cent in the first quarter – the first since 1992, according to Reuters – China recorded gross domestic product growth of 3.2 per cent in the second quarter, beating analysts’ expectations.
China to revive international yuan drive along belt and road countries
The country has largely brought the pandemic under control within its borders, with economic activity returning to about 90 per cent of pre-pandemic levels by the end of April, according to The Economist.
Indonesia’s GDP, by comparison, shrank 5.32 per cent year on year in the second quarter, as the largest economy in Southeast Asia continues to battle one of the region’s biggest outbreaks – with Jakarta alone recording more than 1,000 new cases a day on average this month.

Wisnu Wardana, an economist with Indonesia’s Bank Danamon, said the percentage of the country’s total international trade done using yuan had risen from 0.5 per cent in 2016 to 2 per cent in the first half of this year – or about US$2.7 billion’s worth of imports and exports.
In the past, local companies had been incentivised with discounts “should they pay in yuan to their counterparts in China”, Wisnu said, though he noted that such incentives have been “scaled back recently” and local companies have no knowledge of the reason.
China and Indonesia have a fruitful yet complicated 70-year relationship
Belt and road projects such as the US$6 billion high-speed rail line set to connect Jakarta to the textile hub of Bandung – which Deputy State-Owned Enterprises Minister Kartika Wirjoatmodjo said on Wednesday had been delayed until 2022 at the earliest, owing to pandemic-linked labour shortages – account for a sizeable chunk of the yuan’s use in Indonesia, though Wisnu noted that it is also used in sectors such as chemical products, electronics, food and beverages, shipping, stationery and plastics.
The yuan’s growth in Indonesia was also spurred by a bilateral three-year currency swap deal signed by the two countries’ central banks in 2018.
The agreement allowed the two sides to swap a total of 200 billion yuan (US$29.6 billion) for 440 trillion Indonesian rupiah (US$29.9 billion), to facilitate bilateral trade settlements and provide liquidity support to financial markets.


Earlier this month, analysts for US financial services firm Morgan Stanley forecast that the yuan could surpass the Japanese yen and pound sterling to become the world’s third largest reserve currency by 2030, accounting for between 5 per cent and 10 per cent of global foreign exchange reserve assets – up from the 2.02 per cent reported by the International Monetary Fund at the end of March.
Kimin Tanoto, a member of the board of commissioners for Indonesia’s Gunung Steel Group which exports to China and other countries, said the firm plans to start using yuan – instead of rupiah – in future as “risk management”.
“We prefer to deal in renminbi with Chinese companies. If the facility is available, we are willing to execute our commodities purchases from China in renminbi,” he said.
“It will be one of the world’s main payment currencies in the future.”
Additional reporting by Reuters


Indonesia begins to embrace China’s yuan as trade and belt and road projects fuel uptake

A person holds a stack of Chinese yuan bank notes. Photo: Shutterstock

This picture taken in Jakarta on September 16, 2020 shows gravediggers working at the Pondok Ranggon cemetery in Jakarta. - Authorities in the Indonesian capital re-imposed a partial coronavirus lockdown on September 14 and vow to strictly isolate anyone testing positive for COVID-19 as infections soared in the metropolis. (Photo by ADEK BERRY / AFP)

(200907) -- LIANYUNGANG, Sept. 7, 2020 (Xinhua) -- An oceangoing freighter loads containers at a container terminal of Port of Lianyungang in Lianyungang City, east China's Jiangsu Province, Sept. 7, 2020. China saw its foreign trade rise 6 percent year on year in August in yuan terms, with exports up 11.6 percent and imports down 0.5 percent, official data showed Monday. In the first eight months of this year, foreign trade of goods went down 0.6 percent year on year to 20.05 trillion yuan, narrowing by 1.1 percentage points compared with the decrease in the first seven months. (Photo by Wang Chun/Xinhua)

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An estimated US$2.7 billion’s worth of the country’s international trade was paid for using China’s currency in the first six months of this year
China has emerged as Indonesia’s largest trading partner over the past decade and is its second-biggest source of foreign direct investment



About US$2.7 billion’s worth of the country’s international trade was paid for using China’s currency in the first six months of this year, according to an Indonesian economist.


Indonesia begins to embrace China’s yuan as trade and belt and road projects fuel uptake

An estimated US$2.7 billion’s worth of the country’s international trade was paid for using China’s currency in the first six months of this year China has emerged as Indonesia’s largest trading partner over the past decade and is its second-biggest source of foreign direct investment

An estimated US$2.7 billion’s worth of the country’s international trade was paid for using China’s currency in the first six months of this year

China has emerged as Indonesia’s largest trading partner over the past decade and is its second-biggest source of foreign direct investment