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    China Trade Surplus Rose to USD 102.33 Bn in Aug-25

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    09 September 2025 - 07.59am
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    China Trade Surplus Rose to USD 102.33 Bn in Aug-25

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    Latest update: 30-09-2025, 03:11

    MACROECONOMY
    China–ASEAN Trade and Investment Surpassed USD 450 Bn
    From Jan–Jul 2025, China–ASEAN trade reached USD 597 bn (+8.2% YoY), accounting for 16.7% of China’s foreign trade. By Jul-25, cumulative two-way investment exceeded USD 450 bn, while Chinese firms completed USD 480 bn in engineering projects in ASEAN. China has been ASEAN’s top trading partner for 16 years, and ASEAN has been China’s largest for five years. Bilateral trade with Vietnam, Malaysia, Indonesia, Thailand, and Singapore each topped USD 100 bn in 2024, with Vietnam and Malaysia surpassing USD 200 bn. (新华网)

    INDUSTRY
    Indonesia’s Weak Mortgage Market Hampers Housing Goals
    Indonesia’s mortgage-to-GDP ratio stood at just 3.4% in 2024, one of Asia’s lowest, with BTN dominating subsidized loans (82% share).
    Govt. program FLPP funded 1.59 mn homes since 2010 but excludes most informal workers (~60% of adults) and cost IDR 29.1 tn in
    2025. With the 2026 FLPP budget cut to IDR 25.1 tn, Prabowo’s 3 mn housing target faces fiscal strain. Analysts warn subsidies distort
    private mortgage growth, while fintechs and micro-lenders fill gaps but face land, data, and cost barriers. (Nikkei Asia)

    COMPANY
    Bumi Serpong Damai (BSDE) to Issue IDR 3 Tn Bonds and Sukuk for BSD City Phase III
    BSDE plans to issue up to IDR 2 tn Bonds IV BSD and up to IDR 1 tn Sukuk Ijarah I to fund BSD City Phase III (2,450 ha) infrastructure and strengthen working capital. In the first stage, BSDE targets IDR 1 tn, split equally between bonds and sukuk, rated idAA and idAA Syariah by Pefindo, with listing set for 24 Sep-25. Management stated the issuance will enhance financial structure, supported by a low DER of 0.25x and cash of IDR 8.8 tn. (Emitennews)

    Chandra Asri Pacific (TPIA) Reached 33% Completion for CA-EDC Plant Construction
    TPIA, through subsidiary Chandra Asri Alkali, achieved 33% progress on its world-scale Chlor Alkali–Ethylene Dichloride (CA-EDC) plant in Cilegon, Banten, covering land grading, soil compaction, and jetty facility preparation. Phase 1 will have 400,000 tpa caustic soda (solid), 827,000 tpa (liquid equivalent), and 500,000 tpa EDC capacity to reduce imports, strengthen downstream integration, and boost exports worth up to IDR 5 tn/year, while import substitution could save IDR 4.9 tn/year. Phase 2 will expand capacity and
    develop chlorine-based derivatives. (Emitennews)