{"id":833571,"date":"2026-07-29T11:55:22","date_gmt":"2026-07-29T11:55:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/833571\/"},"modified":"2026-07-29T11:55:22","modified_gmt":"2026-07-29T11:55:22","slug":"can-china-and-indonesias-strong-financial-ties-withstand-resource-nationalism","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/833571\/","title":{"rendered":"Can China and Indonesia\u2019s strong financial ties withstand \u2018resource nationalism\u2019?"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Back in 2009, when China\u2019s economy was expanding at about twice today\u2019s pace, a little-known private firm made a quiet bet on uncharted territory: Indonesia.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The company was on a quest: to secure nickel, a vital industrial metal used in stainless steel production and, increasingly, to power advanced batteries.<\/p>\n<p>That bet proved lucrative. By leveraging <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3361695\/china-makes-offer-indonesia-positioning-itself-unique-access-minerals-analyst?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Indonesia\u2019s vast nickel reserves<\/a> \u2013 the world\u2019s largest \u2013 and securing greater control over upstream supplies, Tsingshan Group has grown into a leading global stainless steel producer. It joined the Forbes Global 500 in 2021, and in 2025 generated 432 billion yuan (US$63.8 billion) in revenue, with operations spanning from Zimbabwe to the United States.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The company, founded in Wenzhou in eastern China\u2019s Zhejiang province, is one of a growing number of Chinese enterprises helping to forge deeper trade and industrial ties between the world\u2019s second-largest economy and Southeast Asia\u2019s largest.<\/p>\n<p>What began as a push to secure raw minerals has evolved into a broader commercial relationship spanning resources, downstream metal processing, manufacturing and, most recently, financial services \u2013 though one increasingly shaped by <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/week-asia\/opinion\/article\/3356938\/indonesias-nickel-rule-changes-are-spooking-chinese-investors?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Jakarta\u2019s shifting domestic priorities<\/a>.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cIndonesia provides the resources, while China contributes capital, technology and manufacturing expertise, creating an increasingly integrated economic ecosystem,\u201d said Zhao Xijun, a finance professor at Renmin University of China in Beijing.<\/p>\n<p>Chasing the battery boom<\/p>\n","protected":false},"excerpt":{"rendered":"Back in 2009, when China\u2019s economy was expanding at about twice today\u2019s pace, a little-known private firm made&hellip;\n","protected":false},"author":2,"featured_media":833572,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[290958,290957,21453,64054,45691,8580,45,91194,49,48,95,157064,46,290956,15674,6110,143583,45689,64638],"class_list":["post-833571","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-airlangga-hartarto","tag-antam","tag-association-of-southeast-asian-nations","tag-bank-indonesia","tag-bank-of-china","tag-beijing","tag-business","tag-byd","tag-ca","tag-canada","tag-china","tag-cross-border-interbank-payment-system","tag-economy","tag-eramet","tag-hong-kong","tag-indonesia","tag-jakarta","tag-peoples-bank-of-china","tag-prabowo-subianto"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/833571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=833571"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/833571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/833572"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=833571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=833571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=833571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}