TikTok has captured the majority of Indonesian e-commerce platform Tokopedia. (File photo)
The Chinese company wanted to return to the e-commerce sector in Indonesia, after local authorities forced TikTok to separate its shopping features of its social media last October.
China's investments in the green energy sector saw strong growth in 2023 with investments in the production of batteries for electric cars in Indonesia, among others, as well as in wind energy in Laos.
In contrast, six countries saw a 100% decline in Chinese engagement in Asia-Pacific compared to 2022. These are the Philippines, Mongolia, Myanmar, Papua New Guinea, Tajikistan and Turkey.
For 2024, Griffiths University report expects growth in Chinese investment and construction contracts appear possible.
There is a clear need for investment to boost green growth to support the ecological transition, both in China and countries in the Asia-Pacific region. This provides excellent opportunities to transact in mining and mineral processing, technology (e.g. electric vehicle manufacturing or battery manufacturing) and technology. ;green energy (e.g. energy production and transmission).
China designates these sectors (electric vehicles, batteries and energy renewables) under the term “new trio”, we can read in the report.
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Electric vehicles are part of China's “new trio”. (Archive photo)
Chinese companies are also seeking favorable opportunities overseas due to the economic crisis in China.
The Middle Kingdom announced that consumer prices increased by 0.7% in February compared to the same period last year. China had seen its biggest price drop in 14 years the previous month. Economic analysts argue that deflation continues to threaten China.
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