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China cuts durian settlement to 30 minutes with first outbound e-CNY payment to Malaysia
Deal advances Beijing’s push to expand the digital yuan through alternative cross-border clearing channels beyond Swift system
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Judy XuePublished: 11:00am, 1 Aug 2026China has completed its first outbound digital yuan payment to Malaysia, settling a 43,000 yuan (US$6,360) shipment of fresh durian, as Beijing accelerates efforts to build a cross-border clearing network in Southeast Asia outside the Society for Worldwide Interbank Financial Telecommunication (Swift) system.
The transaction, executed by China Construction Bank’s (CCB) Xiamen branch in coordination with its Labuan branch in Malaysia, enabled a local importer to pay directly in e-CNY, China’s central bank digital currency.
The deal completed a bilateral digital-currency loop following an inbound trial in January.
Traditional cross-border settlement has long been a key industry pain point for perishable tropical imports like durian, which are highly sensitive to processing speed and transaction costs.
Moving money through traditional correspondent bank networks under Swift cost foreign trade firms US$25 to US$35 per transaction, with clearing fees upwards of 6 per cent and settlement times stretching one to three business days, according to Xinhua Finance.
By contrast, the e-CNY bilateral mechanism slashed clearing times to 30 minutes via direct bank-to-bank ledger transfers, bypassing intermediary clearing banks and allowing overseas recipients to convert e-CNY directly into Malaysian ringgit without extra fees.
The payment mechanism coincides with a boom in bilateral tropical fruit trade. Malaysian fresh durian exports to China jumped to US$37 million in value in 2025, up from around US$5 million, following a trade protocol signed in June 2024.AdvertisementSelect VoiceSelect Speed00:0000:001.00x