China and Indonesia target closer financial cooperation
The People’s Bank of China (PBOC) and Bank Indonesia (BI) reviewed bilateral financial cooperation under their Joint Work Program. Priorities include local currencies, payment connectivity, financial markets and digital currencies.
Four areas for bilateral cooperation
The PBOC and BI held a working meeting under their Joint Work Program (JWP) on November 3, 2026.
PBOC Deputy Governor Xuan Changneng and BI Deputy Governor Thomas Djiwandono attended.
The two sides exchanged views on progress under the program and priorities for the next phase of bilateral financial cooperation.
Both central banks said they would continue to use the JWP to pursue more tangible outcomes.
They identified cooperation on local currency, payment system connectivity, financial markets and digital currency as areas for that work.
The announcement did not specify individual projects or implementation dates.
A platform for joint work
The meeting recognized the JWP as a platform for coordinating and advancing financial cooperation between the two central banks.
Discussions covered both progress to date and priorities for the next phase, rather than a single financial initiative.
The stated commitment centers on continuing cooperation through this framework.
The announcement gives no quantitative targets, funding commitments or timetable for the areas identified.
Cooperation without a timetable
The meeting sets out areas for continued cooperation rather than a specific operational change.
Local currencies and payment connectivity sit alongside financial markets and digital currency on the agenda.
No launch date or next meeting is specified.