The People's Bank of China and the Bank of Indonesia jointly launch the bilateral currency settlement framework and the QR code interconnection cooperation project.

According to the Securities Times APP, on September 11th, the People's Bank of China and the Central Bank of Indonesia jointly launched the bilateral currency settlement (LCT) framework and QR code interconnection cooperation project. The two central bank governors jointly announced the official launch of the LCT framework. The China-Indonesia cross-border QR code interconnection project officially started its two-way pilot operation. The project is expected to be fully operational by 2025, using currency settlement, and is an important development in payment cooperation between the two countries.