rnrnOn June 26, the People's Bank of China officially authorized the Jakarta branch of Bank of China (Hong Kong) to serve as the Indonesian RMB Clearing Bank. With this, Bank of China has deployed RMB clearing services in 19 countries and regions globally, with the number of clearing outlets continuing to rank first in the industry, further improving the global clearing network for RMB internationalization. As the largest economy in ASEAN, Indonesia's economic, trade, and investment exchanges with China continue to deepen. The establishment of the RMB clearing bank is an important and pragmatic outcome of China-Indonesia financial cooperation, which can significantly enhance the convenience of using RMB in bilateral trade and investment, and help upgrade financial cooperation between the two countries. Having been rooted in Indonesia for many years, Bank of China is the first and largest Chinese-funded bank in the country, and has become the core main channel for RMB clearing in Indonesia.rnrnRelying on its exclusive qualifications and business advantages, Bank of China comprehensively empowers the construction of Indonesia's offshore RMB market. As the licensed market maker for the China-Indonesia local currency settlement mechanism and the Chinese settlement bank for cross-border QR code payments, the bank continues to enrich RMB application scenarios; it assisted the Indonesian government in entering the offshore RMB bond market, issuing a total of two tranches of over 10 billion yuan in panda bonds, opening up cross-border RMB financing channels. At the same time, Bank of China is also the only Chinese-funded foreign exchange primary market maker in the Indonesian market, continuously supplying RMB liquidity to meet local market transaction needs. Through years of deep cultivation, Bank of China has built the world's most extensive RMB clearing infrastructure, with clearing outlets steadily expanding from 13 in 2021 to the current 19, covering core financial hubs across all continents.As a core participant in CIPS, the bank has 46 direct participants and over 700 indirect participants, opening 1,630 cross-border RMB correspondent accounts for 117 countries and regions globally, establishing an efficient and smooth cross-border fund flow network. In addition, Bank of China actively deploys digital cross-border finance, completing 2,100 transactions with a total transaction scale of over 350 billion yuan in the multi-central bank digital currency bridge project in 2025, continuously innovating cross-border RMB payment models. In the future, Bank of China will continue to fulfill its responsibilities as the Indonesian RMB clearing bank, deepen product and service innovation, leverage its global network, help steadily advance RMB internationalization, and provide solid financial support for China-Indonesia bilateral economic and trade cooperation and China's high-level opening-up.
Bank of China Approved as Indonesian RMB Clearing Bank
www.indoent.com
2026-06-27
rnrnOn June 26, the People's Bank of China officially authorized the Jakarta branch of Bank of China (Hong Kong) to serve as the Indonesian RMB clearing bank. With this, Bank of China has deployed RMB clearing services in 19 countries and regions globally, maintaining the industry's leading number of clearing outlets and further improving the global clearing network for RMB internationalization. As the largest economy in ASEAN, Indonesia's economic, trade, and investment ties with China continue to deepen. The establishment of the RMB clearing bank is an important and pragmatic outcome of China-Indonesia financial cooperation, significantly enhancing the convenience of using RMB in bilateral trade and investment, and helping to upgrade bilateral financial cooperation. Having been rooted in Indonesia for many years, Bank of China is the first and largest Chinese-funded bank in the country, and has become the core main channel for RMB clearing in Indonesia.
rnrnOn June 26, the People's Bank of China officially authorized the Jakarta branch of Bank of China (Hong Kong) to serve as the Indonesian RMB Clearing Bank. With this, Bank of China has deployed RMB clearing services in 19 countries and regions globally, with the number of clearing outlets continuing to rank first in the industry, further improving the global clearing network for RMB internationalization. As the largest economy in ASEAN, Indonesia's economic, trade, and investment exchanges with China continue to deepen. The establishment of the RMB clearing bank is an important and pragmatic outcome of China-Indonesia financial cooperation, which can significantly enhance the convenience of using RMB in bilateral trade and investment, and help upgrade financial cooperation between the two countries. Having been rooted in Indonesia for many years, Bank of China is the first and largest Chinese-funded bank in the country, and has become the core main channel for RMB clearing in Indonesia.rnrnRelying on its exclusive qualifications and business advantages, Bank of China comprehensively empowers the construction of Indonesia's offshore RMB market. As the licensed market maker for the China-Indonesia local currency settlement mechanism and the Chinese settlement bank for cross-border QR code payments, the bank continues to enrich RMB application scenarios; it assisted the Indonesian government in entering the offshore RMB bond market, issuing a total of two tranches of over 10 billion yuan in panda bonds, opening up cross-border RMB financing channels. At the same time, Bank of China is also the only Chinese-funded foreign exchange primary market maker in the Indonesian market, continuously supplying RMB liquidity to meet local market transaction needs. Through years of deep cultivation, Bank of China has built the world's most extensive RMB clearing infrastructure, with clearing outlets steadily expanding from 13 in 2021 to the current 19, covering core financial hubs across all continents.As a core participant in CIPS, the bank has 46 direct participants and over 700 indirect participants, opening 1,630 cross-border RMB correspondent accounts for 117 countries and regions globally, establishing an efficient and smooth cross-border fund flow network. In addition, Bank of China actively deploys digital cross-border finance, completing 2,100 transactions with a total transaction scale of over 350 billion yuan in the multi-central bank digital currency bridge project in 2025, continuously innovating cross-border RMB payment models. In the future, Bank of China will continue to fulfill its responsibilities as the Indonesian RMB clearing bank, deepen product and service innovation, leverage its global network, help steadily advance RMB internationalization, and provide solid financial support for China-Indonesia bilateral economic and trade cooperation and China's high-level opening-up.
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