Indonesia and China Test Cross-Border QRIS to Mark 75 Years of Diplomatic Ties
Key Takeaways
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JAKARTA, Investortrust.id — Indonesia and China have launched a limited trial of cross-border QRIS payments on Thursday, Sept. 11, 2025, as part of the commemoration of 75 years of diplomatic relations between the two countries. The initiative underscores the commitment of both central banks to strengthen cross-border payment connectivity.
The pilot project marked not only a technological milestone but also a push for wider financial inclusion and access to affordable services. The trial involved the Indonesian Payment System Association along with payment industry partners from China.
Indonesia and China have also been reinforcing the use of local currency transactions (LCT) in bilateral trade and investment. The framework offers tangible benefits for businesses and consumers, including lower conversion costs, more efficient settlement, and enhanced financial stability.
Between January and July 2025, the value of Indonesia–China LCT transactions reached the equivalent of $6.23 billion, a sharp increase from $2.17 billion during the same period last year.
Bank Indonesia Governor Perry Warjiyo expressed confidence that business participation and economic cooperation between Indonesia and China will continue to deepen.
“This initiative reflects our joint commitment to strengthen bilateral collaboration and build a financial ecosystem that is more connected, secure, and inclusive. Moving forward, Bank Indonesia will continue to work with the People’s Bank of China and stakeholders to drive innovation and expand financial integration,” Perry said in Beijing on Thursday.
People’s Bank of China Governor Pan Gongsheng stressed that as two major emerging economies in Asia, China and Indonesia share a responsibility in navigating today’s global dynamics.
Trade and investment ties between China and Indonesia have long been supported by a strong foundation of financial cooperation, making the deepening of this partnership even more crucial, he added.
Indonesia’s broader LCT framework with other partner countries has also shown growth. From January to July 2025, the country recorded transactions worth $2.03 billion with Malaysia, $644 million with Thailand, $5.08 billion with Japan, $85 million with South Korea, and $72 million with the United Arab Emirates.
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