Sri Lanka RMB Clearing Bank Unveiled and Operational

On the 15th local time, the unveiling ceremony of the Sri Lanka RMB Clearing Bank hosted by Bank of China was held in Colombo, Sri Lanka. On that day, more than 200 representatives from Sri Lankan government departments as well as enterprises and financial institutions from both China and Sri Lanka attended the unveiling ceremony. Currently, Bank of China is the only Chinese-funded financial institution operating in Sri Lanka. With the support of the central banks of both China and Sri Lanka, the Colombo Branch of Bank of China has been appointed as the Sri Lanka RMB Clearing Bank, which will improve cross-border clearing efficiency and the quality and effectiveness of RMB services.