Jakarta. Indonesia has secured support from China’s Ministry of Finance and the People’s Bank of China (PBOC) for its planned issuance of Panda Bonds, a move aimed at broadening the country’s funding sources and deepening financial ties with its largest trading partner.

Finance Minister Purbaya Yudhi Sadewa said the government is pushing to diversify its development financing channels, expand its investor base, and strengthen economic cooperation with strategic partners.

“We requested support for the issuance of Panda Bonds, and they responded positively. During our meeting with the PBoC, we also asked for an accelerated approval process. They assured us that once the official application documents are submitted, the process will be fast-tracked,” Purbaya said in a statement released on Friday.

Purbaya said the planned Panda Bond issuance forms part of Indonesia’s strategy to diversify funding sources and reduce reliance on a single currency or financial market.

“We want to diversify development financing sources so that we are not dependent on any single currency. This is also in line with the local currency transaction cooperation that has been established between Indonesia and China,” he said.

According to Purbaya, China’s support reflects confidence in Indonesia’s economic fundamentals and the positive outlook for bilateral economic relations.

“Our discussions were highly constructive and demonstrated China’s strong confidence in Indonesia. Both countries share a commitment to strengthening closer economic ties,” he said.