The People's Bank of China and Bank Indonesia reviewed progress under their joint working mechanism and discussed priorities for the next phase of bilateral financial cooperation at a Nov. 3, 2026, meeting. The central banks plan to pursue further cooperation on local currencies, payment system connectivity, financial markets and digital currencies. The discussions follow concrete payment and settlement initiatives under the mechanism, which was established in September 2025. In June 2026, the banks signed a memorandum on renminbi clearing arrangements and launched cross-border QR payment connectivity between China and Indonesia.
People's Bank of China and Bank Indonesia review bilateral financial cooperation progress and priorities
The People's Bank of China and Bank Indonesia reviewed bilateral financial cooperation and discussed further work on local currencies, payment connectivity, financial markets and digital currencies. The discussions follow June 2026 initiatives on renminbi clearing and the launch of cross-border QR payment connectivity under their joint working mechanism.