The People's Bank of China issued an announcement on June 26, designating Bank of China (Hong Kong) Limited Jakarta Branch as the RMB clearing bank in Indonesia. With this appointment, BOC now serves as an RMB clearing bank in 19 countries and regions, continuing to rank first in the market.

The appointment came as the comprehensive strategic partnership between China and Indonesia has developed steadily in recent years, with bilateral economic and trade ties growing closer. 

The appointment of an RMB clearing bank in Indonesia is one of a series of practical outcomes of the joint working mechanism between the two central banks. This move will further facilitate the use of RMB in bilateral trade and investment and promote higher-level economic and financial cooperation between China and Indonesia.

As the first Chinese-funded bank to operate in Indonesia, BOC has become the largest RMB service provider in Indonesia and the main channel for RMB clearing services. For years, it has actively supported bilateral economic and trade cooperation and continued to advance the international use of the RMB and the development of financial markets.

Leveraging its role as an Appointed Cross-Currency Dealer Bank (ACCD Bank) under the Indonesia-China Local Currency Transaction (LCT) framework and as the Chinese-side settlement bank for cross-border QR code payment connectivity between the two countries, BOC continues to deepen product and service innovation and promote the international use of RMB. 

In October 2025, BOC supported the Indonesian government's first entry into the global RMB bond market. To date, BOC has assisted the Indonesian government in completing two offshore RMB bond issuances with a total value exceeding RMB 10 billion and provided integrated, comprehensive financial services to the issuer. 

As the only Chinese-funded bank approved as a Money Market and Foreign Exchange Market Primary Dealer in Indonesia, BOC provides direct two-way quotations for the RMB-Rupiah currency pair and continuously supplies RMB liquidity to the Indonesian market to effectively meet market demands. 

BOC will continue to leverage its global strengths, fulfil its responsibilities as an RMB clearing bank, deepen innovation in RMB products, provide higher-quality financial services for China-Indonesia economic and trade exchanges, and make greater contributions to high-standard opening-up.