The People's Bank of China (PBOC) issued Announcement [2026] No. 4 on March 3, stating that pursuant to the Memorandum of Understanding on Cooperation between the PBOC and the Central Bank of Sri Lanka, the PBOC has authorized the Bank of China Limited Colombo Branch to serve as the RMB clearing bank in Sri Lanka.

Established in 2018, the Colombo branch has long been committed to facilitating bilateral trade and economic exchanges, supporting key projects under the Belt and Road Initiative, promoting the cross-border use of RMB and the development of the RMB market in Sri Lanka, and fostering regional market growth.

BOC has consistently played a leading role in the cross-border use of RMB and has developed extensive clearing networks. It ranks first globally in both cross-border RMB clearing volume and settlement volume. Leveraging its global network and integrated service capabilities, BOC will continue to fulfill its responsibilities as an RMB clearing bank and provide market participants with more comprehensive and high-quality RMB services.