By Zhou Lanxu | chinadaily.com.cn | Updated: 2026-01-28
The People’s Bank of China has recently signed a memorandum of cooperation with the Central Bank of Sri Lanka to establish renminbi clearing arrangements in Sri Lanka, said a statement released by China’s central bank on Wednesday.
The establishment of renminbi clearing arrangements will facilitate the use of the Chinese renminbi in cross-border transactions by enterprises and financial institutions from both countries, it said, adding the move will further promote bilateral trade and investment.