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International relations

China becomes Indonesia's No. 2 investor with infrastructure drive

Japan slips to third place as Belt and Road money begins to flow

Indonesian President Joko Widodo, left, and Chinese President Xi Jinping shake hands in Beijing last May, when China hosted the Belt and Road Forum.   © Reuters

JAKARTA -- China became Indonesia's second-biggest source of foreign direct investment in 2017, and officials in Jakarta are saying they expect the Chinese inflows will only continue to swell. 

China overtook Japan on the Southeast Asian country's investor list and now trails only Singapore, according to data released on Tuesday by Indonesia's Investment Coordinating Board, known as the BKPM. While the top-ranked city-state poured in $8.4 billion, combined investment from China and Hong Kong surged 12% to $5.5 billion.

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