Jakarta. Bank Indonesia (BI) and the People’s Bank of China (PBoC) launched a limited trial of cross-border QRIS payment connectivity in Beijing on Thursday.  Bank Indonesia targets the full rollout of the cross-border service by the end of 2025. 

BI Governor, Perry Warjiyo, said the pilot program reflects the commitment of both central banks to expand economic cooperation and promote a more connected, secure, and inclusive financial ecosystem.

“This initiative not only showcases technological progress but also promotes wider financial access, affordability, and inclusivity,” Perry said in a statement.

Bank Indonesia targets the full rollout of the cross-border service by the end of 2025. 

The trial involved Indonesia’s Payment System Association (ASPI) and China’s UnionPay International. BI also reaffirmed its commitment to PBoC to broaden the use of local currency transactions (LCT) for bilateral trade and investment, aimed at boosting efficiency, lowering conversion costs, and enhancing financial stability.

PBoC Governor, Pan Gongsheng, said that as two major developing economies in Asia, China and Indonesia share a responsibility to respond to global economic challenges. He added that stronger financial cooperation is crucial to reinforcing bilateral trade and investment ties, which already rest on a solid foundation.

LCT transactions between Indonesia and China reached $6.23 billion in January–July 2025, up sharply from $2.17 billion in the same period last year. The milestone comes as the two countries mark 75 years of diplomatic ties.

Indonesia’s LCT framework has also expanded to other partners. Between January and July 2025, transactions totaled $2.03 billion with Malaysia, $644 million with Thailand, $5.08 billion with Japan, $85 million with South Korea, and U$2 million with the United Arab Emirates.

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