{"id":21714,"date":"2025-06-16T15:33:01","date_gmt":"2025-06-16T11:33:01","guid":{"rendered":"https:\/\/edbmauritius.org\/?post_type=newsroom&#038;p=21714"},"modified":"2025-06-16T15:35:07","modified_gmt":"2025-06-16T11:35:07","slug":"official-launch-of-bank-of-china-mauritius-limited-as-rmb-clearing-bank-in-mauritius","status":"publish","type":"newsroom","link":"https:\/\/edbmauritius.org\/newsroom\/official-launch-of-bank-of-china-mauritius-limited-as-rmb-clearing-bank-in-mauritius","title":{"rendered":"Official Launch of Bank of China (Mauritius) Limited as RMB Clearing Bank in Mauritius"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"21714\" class=\"elementor elementor-21714\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-da572b1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"da572b1\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6846a6e\" data-id=\"6846a6e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5d0c394 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"5d0c394\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Mauritius. To mark this important milestone, an event was held at the Intercontinental Hotel, in the presence of eminent personalities including the Chinese Ambassador to Mauritius, the Chairman of Bank of China and the Governor of the Bank of Mauritius.<\/p><p>This strategic move signifies a meaningful enhancement in the Mauritius financial ecosystem, facilitating seamless trade, investment, and cross-border transactions in Renminbi for businesses and financial institutions. This initiative is also in line with Bank of China\u2019s broader goal of enhancing the efficiency, robustness, and diversification of its global payment network.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff04b2e elementor-widget elementor-widget-image\" data-id=\"ff04b2e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"640\" height=\"427\" src=\"https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/RMB-event-1024x683.jpg\" class=\"attachment-large size-large wp-image-21717\" alt=\"\" srcset=\"https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/RMB-event-1024x683.jpg 1024w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/RMB-event-300x200.jpg 300w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/RMB-event-768x512.jpg 768w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/RMB-event-1536x1024.jpg 1536w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/RMB-event-18x12.jpg 18w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/RMB-event.jpg 1680w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3bf9cc elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"b3bf9cc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In his address, Dr. Rama Krishna Sithanen, G.C.S.K, Governor of the Bank of Mauritius, outlined the advantages of using the Renminbi (RMB) for settling trade payments. He noted that adopting the RMB can help mitigate exchange rate risks, reduce transaction costs, and strengthen commercial ties with Chinese suppliers and clients. Beyond trade settlement, the Governor emphasised that the establishment of RMB clearing infrastructure paves the way for a broader range of financial products and services, including RMB-denominated bonds, syndicated loans, structured notes, and green finance instruments. He also revealed that the Bank of Mauritius is evaluating the feasibility of integrating the RMB as a fully supported settlement currency within the Mauritius Automated Clearing and Settlement System (MACSS). This development would significantly enhance the efficiency and convenience of RMB transactions for banks and corporates operating in Mauritius.<\/p><p>The Honourable Ge Haijiao, Chairman of Bank of China Limited, highlighted that the launch marks a key milestone in the Bank\u2019s international strategy and serves as a concrete step toward fulfilling the commitment between Mauritius and China to deepen financial cooperation<\/p><p>Her Excellency Dr. Huang Shifang, Chinese Ambassador to Mauritius, praised this initiative as a reflection of the Bank of China\u2019s strategic commitment to Mauritius, showcasing its strong operational capacity and global standing. She reaffirmed that Mauritius holds a unique position as an International financial center for cross border investment and a vital gateway for investors seeking to access the African market.<\/p><p>It is worth noting that, on the same day, Bank of China (Mauritius) Limited successfully executed its first transaction as a RMB clearing bank in Mauritius by processing a cross-border Renminbi remittance for Beijing Construction Group.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28be3d1 elementor-widget elementor-widget-image\" data-id=\"28be3d1\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"640\" height=\"426\" src=\"https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/EDB_6024-1024x682.jpg\" class=\"attachment-large size-large wp-image-21716\" alt=\"\" srcset=\"https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/EDB_6024-1024x682.jpg 1024w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/EDB_6024-300x200.jpg 300w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/EDB_6024-768x512.jpg 768w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/EDB_6024-1536x1024.jpg 1536w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/EDB_6024-18x12.jpg 18w, https:\/\/edbmauritius.org\/wp-content\/uploads\/2025\/06\/EDB_6024.jpg 2000w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a166aea elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"a166aea\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The CEO of Economic Development Board, Mr. Mahen Kundasamy, had a very fruitful meeting with the Chairman of Bank of China, to discuss potential areas of collaboration. Both parties reaffirmed the longstanding friendship between China and Mauritius and emphasised the importance of unlocking the vast opportunities for investment and trade between China and Africa.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9ec72d2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9ec72d2\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fa83f26\" data-id=\"fa83f26\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f37a8b elementor-widget elementor-widget-heading\" data-id=\"3f37a8b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h5 class=\"elementor-heading-title elementor-size-default\">Share this 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54.253z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_email\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on email\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fas-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M502.3 190.8c3.9-3.1 9.7-.2 9.7 4.7V400c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V195.6c0-5 5.7-7.8 9.7-4.7 22.4 17.4 52.1 39.5 154.1 113.6 21.1 15.4 56.7 47.8 92.2 47.6 35.7.3 72-32.8 92.3-47.6 102-74.1 131.6-96.3 154-113.7zM256 320c23.2.4 56.6-29.2 73.4-41.4 132.7-96.3 142.8-104.7 173.4-128.7 5.8-4.5 9.2-11.5 9.2-18.9v-19c0-26.5-21.5-48-48-48H48C21.5 64 0 85.5 0 112v19c0 7.4 3.4 14.3 9.2 18.9 30.6 23.9 40.7 32.4 173.4 128.7 16.8 12.2 50.2 41.8 73.4 41.4z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_whatsapp\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on whatsapp\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-whatsapp\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M380.9 97.1C339 55.1 283.2 32 223.9 32c-122.4 0-222 99.6-222 222 0 39.1 10.2 77.3 29.6 111L0 480l117.7-30.9c32.4 17.7 68.9 27 106.1 27h.1c122.3 0 224.1-99.6 224.1-222 0-59.3-25.2-115-67.1-157zm-157 341.6c-33.2 0-65.7-8.9-94-25.7l-6.7-4-69.8 18.3L72 359.2l-4.4-7c-18.5-29.4-28.2-63.3-28.2-98.2 0-101.7 82.8-184.5 184.6-184.5 49.3 0 95.6 19.2 130.4 54.1 34.8 34.9 56.2 81.2 56.1 130.5 0 101.8-84.9 184.6-186.6 184.6zm101.2-138.2c-5.5-2.8-32.8-16.2-37.9-18-5.1-1.9-8.8-2.8-12.5 2.8-3.7 5.6-14.3 18-17.6 21.8-3.2 3.7-6.5 4.2-12 1.4-32.6-16.3-54-29.1-75.5-66-5.7-9.8 5.7-9.1 16.3-30.3 1.8-3.7.9-6.9-.5-9.7-1.4-2.8-12.5-30.1-17.1-41.2-4.5-10.8-9.1-9.3-12.5-9.5-3.2-.2-6.9-.2-10.6-.2-3.7 0-9.7 1.4-14.8 6.9-5.1 5.6-19.4 19-19.4 46.3 0 27.3 19.9 53.7 22.6 57.4 2.8 3.7 39.1 59.7 94.8 83.8 35.2 15.2 49 16.5 66.6 13.9 10.7-1.6 32.8-13.4 37.4-26.4 4.6-13 4.6-24.1 3.2-26.4-1.3-2.5-5-3.9-10.5-6.6z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>On 12th of June 2025, Bank of China was officially designated as the RMB clearing bank in Mauritius. 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