The Bank of China has opened a subsidiary in Mauritius, making it the first Chinese bank to commence operations in the Indian ocean islands.
The bank is hoping to capitalise on increasing trade and travel bewteen the two countries. China is now the second-largest trading partner for Mauritius as well as the island’s largest source of imports. The bank hopes to facilitate cross-border business in the Chinese currency in the near future. Mauritian President Ameenah Gurib-Fakim and China’s ambassador to the country, Li Li presided over the ceremony.
Mauritius is located in the Golden Triangle channel, which links Asia, Africa, and Australia.