Summary
Bank of China has brought its global push for yuan internationalisation to Mauritius, staging a roadshow that marks the 12th stop in its 2026 series. The event centred on widening the use of the Chinese currency,
streamlining clearing systems and deepening cooperation in local-currency settlement. The lender's Mauritius arm has already set up correspondent accounts for 11 local financial institutions, with yuan clearing volumes topping RMB 10 billion in the first half of 2026.
Commentary
The Mauritius event is the latest step in Bank of China's global yuan promotion series, marking the 12th stop and further thickening its clearing network across Africa. With correspondent accounts now set up for 11 local banks and first-half clearing volumes above RMB 10 billion, the programme appears to be moving from infrastructure building to actual settlement. For New Zealand small and medium-sized enterprises, direct trade opportunities with Mauritius remain limited.
But China's systematic establishment of clearing nodes across African and Latin American trading partners is worth watching. For firms buying from or selling into those regions, yuan settlement could in future cut out the US dollar as an intermediary, reducing conversion costs. That said, yuan liquidity in Africa remains concentrated in a handful of banks, and non-resident account opening and financing are still less convenient than in dollars or euros.
New Zealand businesses trading with Africa should test actual settlement efficiency rather than rush to switch currencies. Bank of China has already staged a roadshow in New Zealand, covering the local market. The more useful question is whether its local arm will introduce yuan-based trade finance products for SMEs, turning the macro-level network into practical payment channels.
Keywords: RMB internationalisation, Bank of China, Mauritius, clearing bank, financial connectivity, roadshow, China-Africa trade
Source: Sina
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