BI expands yuan swap and QRIS cross-border ties with China, Hong Kong

Bank Indonesia expanded its financial cooperation with China and Hong Kong through a Bilateral Currency Swap Arrangement and the wider use of Local Currency Transaction. The agreement was signed by BI Governor Perry Warjiyo and People's Bank of China Governor Pan Gongsheng on 11 June 2026 in Shanghai, along with an MoU with the Hong Kong Monetary Authority led by Eddie Yue. The scheme allows transactions between Indonesia, mainland China and Hong Kong to use rupiah or renminbi without relying on the U.S. dollar. In the same package, Indonesia-China cross-border QRIS was also agreed. According to a statement cited by CNN Indonesia, the system has connected 191 service providers in China and 24 in Indonesia. Dasco said the move would make export-import transactions between the two countries easier.