People's Bank of China Authorizes ABSA and ICBC as Joint RMB Clearing Banks in Africa, BOC Hong Kong as Clearing Bank in Indonesia

According to an announcement today (June 26), the People's Bank of China authorized the Standard Bank of South Africa Limited and Industrial and Commercial Bank of China Limited to serve as joint clearing banks for the Chinese yuan in Africa. The central bank also authorized Bank of China (Hong Kong) Limited's Jakarta branch as the clearing bank for the Chinese yuan in Indonesia.
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