Sri Lanka, Oct. 16 -- The establishment of the official Renminbi (RMB) Clearing Bank in Sri Lanka marks a critical milestone in China-Sri Lanka financial ties, reflecting the continuous expansion of economic and bilateral trade relations between the two nations.

A representative of the Embassy of the People's Republic of China in Sri Lanka extended warm congratulations and thanked the central banks of both countries, the Bank of China Colombo Branch, and all contributing stakeholders for facilitating this breakthrough cooperation, speaking at the official unveiling ceremony.

The operationalisation of the RMB Clearing Bank addresses practical commercial needs stemming from years of China being a top trading partner and investment source ...