PBoC designates RMB clearing banks for Indonesia and Africa
Bank of China (Hong Kong), ICBC and Standard Bank to operate services for Chinese currency
Specific lenders have received approval to establish renminbi clearing banks in Indonesia and Africa as the country and continent boost bilateral trade and financial co-operation with China.
The People’s Bank of China announced on June 26 that the Jakarta branch of the Bank of China (Hong Kong) had been authorised to operate renminbi clearing services in Indonesia. This followed the signing of a memorandum of understanding by PBoC governor Pan Gongsheng and his Indonesian counterpart Perry
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