Renminbi Cross‑Border Payments Discussed in Mauritius Gathering

During a focused meeting in Port Louis on August 25, senior representatives from China and Mauritius examined the role of the renminbi in cross‑border settlements. The event, organized by the Bank of China, featured nearly a hundred participants representing government, trade and finance sectors.

Key topics included the deployment of the Cross‑border Interbank Payment System (CIPS), the opening of renminbi‑denominated inter‑bank accounts for eleven local financial institutions, and the volume of clearing operations that surpassed 10 billion yuan in the first half of 2026.

Mauritius Central Bank Deputy Governor Rajiv Hassanah explained that broader usage of the renminbi can bring down transaction fees and quicken fund transfers, giving businesses more flexibility in bilateral trade and investment.

Chinese Commercial Consul Wang Lei reaffirmed Beijing’s intention to keep the financial market highly accessible and to improve the framework that supports renminbi usage abroad.

Bank of China’s Yun Yi highlighted that the renminbi clearing bank in Mauritius has already contributed significantly to the growth of the island’s offshore financial centre, reinforcing its position as the “Pearl of the Indian Ocean.”

The Bank of China pledged to deepen collaboration with Mauritian authorities, adapt to offshore tax regimes and create an environment that encourages Chinese enterprises to expand into the Mauritian market.