China, Sri Lanka to set up renminbi clearing arrangements

The People’s Bank of China has recently signed an agreement with the Central Bank of Sri Lanka to create renminbi clearing arrangements in Sri Lanka, according to a statement from China’s central bank on Wednesday. This new setup will help businesses and financial institutions from both countries use the Chinese renminbi for cross-border transactions. The statement noted that this development will enhance trade and investment between China and Sri Lanka. Copyright ©2026 Ada Derana. All rights reserved. Solution by Technology Partner Fortunacreatives.