Bank Indonesia launched the clearing bank at its Jakarta headquarters, where the People’s Bank of China designated Bank of China (Hong Kong) Limited’s Jakarta branch to provide renminbi liquidity, clearing and settlement, under a commitment signed with 12 cross currency dealer banks including Bank Mandiri, Bank Negara Indonesia, Bank Central Asia, ICBC Indonesia and China Construction Bank Indonesia. Local currency transactions between Indonesia and China reached the equivalent of 43.89 billion dollars in January to September 2026, more than three times the 13.19 billion dollars recorded for all of 2025, and China accounted for 83.49 percent of Indonesia’s total local currency transaction volume. Governor Destry Damayanti said the clearing bank lets businesses settle trade with China directly in renminbi, reducing dependence on a third currency, and supports rupiah stability and the resilience of Indonesia’s external sector.
Bank Indonesia launches renminbi clearing bank for China trade
Bank Indonesia has launched a renminbi clearing bank in Jakarta, with the People's Bank of China designating Bank of China (Hong Kong)'s Jakarta branch to clear and settle yuan trade payments as local currency transactions with China reached 43.89 billion dollars in the first nine months of 2026.
Why it matters: Settling the bulk of Indonesia's trade with its largest partner directly in renminbi cuts the dollar out of the transaction chain, and the clearing bank gives that shift standing infrastructure rather than a memorandum.
Data as of Antara dispatch of November 14, 2026 (Jakarta time), in Indonesian, reporter Xinhua, read in full via the estate browser route in this run; the figures are Bank Indonesia's as carried by Antara, and the designation follows the BI-PBoC memorandum of understanding of June 11, 2026. Developing item.
Sources
- BI luncurkan bank kliring renminbi (BI launches a renminbi clearing bank) - Antara - 2026-11-14