Sino-Indonesian trade benefits region, world

Closer China-Indonesia economic and trade cooperation will benefit the two countries and add new growth momentum to the regional and world economy, experts and business leaders said, adding that the two populous developing countries share huge trade complementarity, entwined interests and great economic cooperation potential.

Since Julong Group, whose headquarters are in Tianjin, started operations in Indonesia in 2006, it has established oil palm plantations covering nearly 66,700 hectares. It also operates four palm oil factories, two palm kernel crushing plants, one packaging factory and eight river ports in the Southeast Asian country.

Palm oil and other products in its seven factories are forecast to have a total value of 1.6 billion yuan ($230 million) this year. Of that, palm kernel oil and meal worth 300 million yuan are expected to be exported to China, and the rest will be sold on the Indonesian market, said Lei Wenzhong, CEO of the company's Indonesian branch.