Tuesday Nov 18, 2025
Tuesday Nov 18, 2025
Tuesday, 18 November 2025 02:49 - - {{hitsCtrl.values.hits}}
China’s Ambassador to Sri Lanka Qi Zhenhong, Central Bank of Sri Lanka Governor Dr. P. Nandalal Weerasinghe, Finance Deputy Minister Dr. Anil Jayantha Fernando, Bank of China (Colombo Branch) Country Manager Liu Ying and Sri Lanka–China Business Council President Haroun Cader and distinguished guests
The RMB Internationalisation Forum 2025, organised by the Sri Lanka–China Business Council of the Ceylon Chamber of Commerce in collaboration with the Bank of China, was held recently at the Shangri-La Colombo. The event brought together distinguished policymakers, diplomats, and business leaders to discuss the future of bilateral trade and financial cooperation using the Chinese Yuan (RMB).
The Forum was graced by China’s Ambassador to Sri Lanka Qi Zhenhong, Central Bank of Sri Lanka Governor Dr. P. Nandalal Weerasinghe and Finance Deputy Minister Dr. Anil Jayantha Fernando. Discussions centred on promoting RMB settlements in trade, investment, and financial transactions between the two nations, furthering economic stability and efficiency.
Ambassador Qi Zhenhong noted that while the US dollar continues to dominate global finance, it also exposes developing economies to volatility and systemic risks. He emphasised the importance of establishing a more equitable, stable, and inclusive monetary system and explained that RMB internationalisation is a market-driven, enterprise-led, and risk-controllable process designed to enhance global financial stability. The Ambassador also highlighted that over 80 central banks have already incorporated RMB into their reserves, with cross-border RMB settlements surpassing 35 trillion yuan in the first half of 2025 – clear evidence of the currency’s growing influence. He reaffirmed China’s readiness to work closely with Sri Lanka to diversify reserves, reduce exchange-rate risks, and promote mutually beneficial financial cooperation.
Deputy Minister Dr. Anil Jayantha Fernando observed that wider use of RMB in transactions could reduce costs, increase administrative efficiency, and attract sustainable foreign direct investment. He further mentioned that discussions with key Chinese enterprises, including Sinopec, are progressing positively and signalled that significant new investments are on the horizon. Dr. Fernando added that the upcoming Investor Protection Act will ensure a stable and transparent environment for investors. He noted that these efforts, alongside digitalisation and RMB settlement mechanisms, are aligned with Sri Lanka’s broader economic reform agenda.
Bank of China (Colombo Branch) Country Manager Liu Ying remarked that RMB internationalisation has been one of the most transformative developments in the global economy over the past decade, strengthening trade connectivity and financial inclusion. Liu emphasised that the discussions held at the Forum would pave the way for new ideas, stronger collaborations, and meaningful outcomes that further the journey of RMB adoption in Sri Lanka, ultimately reinforcing trade relations between the two countries.
The RMB Internationalisation Forum 2025 served as a significant platform to advance financial cooperation, encourage cross-border trade settlements in RMB, and explore new opportunities for sustainable economic partnership between Sri Lanka and the People’s Republic of China.
