Port Louis, August 25: A promotional event focused on “Promoting the International Use of Renminbi in Mauritius” was held on Monday in the capital, Port Louis. The theme of the event was “Deepening Financial Connectivity between China and Mauritius, Leading Bilateral Trade and Economic Cooperation towards High-Quality Development.” Approximately 100 representatives from the political, business, and financial sectors of both countries participated.
The event was organized by the Bank of China. Discussions centered on cross-border payments and settlements in the Chinese currency, investment and financing, and financial cooperation between China and Mauritius.
Experts from the Bank of China shared insights on the latest developments in the internationalization of Renminbi, methods to connect with the Cross-Border Payment System (CIPS), and examples of integrated cross-border financing solutions.
During the event, Rajiv Hasnah, the First Deputy Governor of the Central Bank of Mauritius, remarked that trade and economic cooperation between the two countries is continuously deepening. He noted that expanding the cross-border use of Renminbi would help market participants reduce transaction costs and accelerate the flow of funds, providing more options for trade and investment between the two nations.
Wang Lei, the Commercial Counselor at the Chinese Embassy in Mauritius, stated that China will continue to promote a high level of openness in the financial sector and improve arrangements to facilitate the cross-border use of Renminbi. He expressed hope for deeper cooperation between financial institutions of both countries in cross-border settlement, trade financing, and investment financing.
In this context, Yun Yi, Deputy General Manager of the Payment and Settlement Department at the Bank of China headquarters, mentioned that by operating as a Renminbi clearing bank in Mauritius, the bank has actively contributed to the development of the local digital economy and financial market, providing new momentum for the establishment of an offshore financial center in Africa.
He added that the Bank of China is ready to enhance cooperation with all parties, better align with Mauritius’s offshore financial and tax policies, and encourage more Chinese enterprises to enter the Mauritian market.
According to the Bank of China, the Renminbi clearing bank in Mauritius has opened interbank accounts for 11 local financial institutions, fully utilizing Mauritius’s geographical and financial advantages as the “Pearl of the Indian Ocean” and an offshore financial center. In the first half of 2026, the volume of Renminbi clearing exceeded 10 billion yuan, further promoting the use of Renminbi in Mauritius.
(Source: China Media Group, Beijing)
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