The People's Bank of China, Hong Kong Monetary Authority, and Bank Indonesia have signed an agreement to facilitate direct bilateral transactions in Chinese yuan and Indonesian rupiah. This aims to streamline cross-border trade and investment.

The People’s Bank of China, Hong Kong Monetary Authority (HKMA) and Bank Indonesia signed an agreement on Thursday to create a framework for bilateral transactions between Indonesia and Hong Kong. The parties aimed to implement a currency transaction framework for the direct exchange and settlement of Indonesian rupiah and Chinese yuan in cross-border trade and investment activities among companies and institutions in Indonesia and Hong Kong, according to an HKMA statement. This initiative was.....