Renminbi internationalization receives another boost as the central bank authorizes the Bank of China Jakarta branch to act as the RMB clearing bank in Indonesia.

The internationalization of the Renminbi is making progress. On the 26th, the People's Bank of China issued a notice authorizing the Bank of China Limited Jakarta Branch to serve as the Renminbi clearing bank in Indonesia. With this, Bank of China has now become the Renminbi clearing bank in 19 countries and regions, maintaining its leading position in the market. As the first Chinese-funded bank to enter Indonesia, Bank of China has now become the largest provider of Renminbi business services and the main Renminbi clearing channel in the local market. Over the years, it has actively promoted bilateral economic and trade cooperation, continuously advancing the international use of Renminbi and the deepening of financial market construction.