On June 11, 2026, the People's Bank of China and Bank Indonesia held the second governors' meeting under their joint cooperation mechanism and announced a series of practical cooperation outcomes. In the presence of Pan Gongsheng, Governor of the People's Bank of China, and Perry Warjiyo, Governor of Bank Indonesia, Bank Mandiri officially went live as a direct participant in the Cross-border Interbank Payment System (CIPS). Wang Hongbo, Chairman of CIPS Co., Ltd., and Timothy Utama, Operations Director of Bank Mandiri, attended the launch ceremony.

As the first locally incorporated Indonesian bank to go live as a CIPS direct participant, Bank Mandiri will further strengthen the CIPS service network in Southeast Asia, continuously improve the efficiency of regional cross-border RMB clearing, and provide a safe, efficient and convenient RMB clearing and settlement channel for trade and investment between China and Indonesia.