|

The China (Indonesia) Trade Expo will be held in Jakarta, capital of Indonesia, from March 16 to 18.

As the world's ninth largest economy and an important fulcrum of the Belt and Road Initiative, Indonesia is a huge market with enormous potential.

To further expand into new markets, the Jiaxing municipal bureau of commerce and the Jiaxing municipal council for the promotion of international trade have been preparing charter flights to participate in the exhibition.

Jiaxing Ouya Machinery Co Ltd is one of the companies that signed up for the exhibition.

The company planed to bring 15 products, including hydraulic separation roofs, hydraulic cranes, hydraulic presses and horizontal jacks. The company also adjusted the measuring unit for hydraulic pressure gauges according to the characteristics and usage habits of Indonesian users.

There are 274 million people in Indonesia, making it the fourth most populous nation in the world. Such a large population base means the Indonesian market has a lot of untapped potential. Moreover, Indonesia can use the RMB as currency for international trade settlements, avoiding trade risks caused by exchange rate fluctuations, said Wang Jie, general manager of Jiaman Import and Export Co Ltd, another participant of the exhibition.

The government will grant 50-percent subsidies for round-trip air tickets, with a maximum of 60,000 yuan ($8,822) for each enterprise, and full subsidies for booth fees for exhibitors, with a maximum of 150,000 yuan for each enterprise, greatly reducing costs for small and micro-sized enterprises, Wang added.

In 2022, a total of 1,135 enterprises in Jiaxing traded with Indonesia, seeing 19.54 billion yuan in imports and exports. Exports were valued at 9.97 billion yuan, a surge of 50.9 percent year-on-year.