{"id":735937,"date":"2026-02-01T20:53:12","date_gmt":"2026-02-01T20:53:12","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/735937\/"},"modified":"2026-02-01T20:53:12","modified_gmt":"2026-02-01T20:53:12","slug":"chinas-plan-to-internationalise-yuan-quietly-takes-a-step-forward-as-zambia-gets-on-board","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/735937\/","title":{"rendered":"China\u2019s plan to internationalise yuan quietly takes a step forward as Zambia gets on board"},"content":{"rendered":"

As of January, Zambia has begun collecting taxes and royalties from Chinese mining firms<\/a> in yuan, and will cycle the currency directly back to Beijing to fund imports and service loans.<\/p>\n

Experts said the shift reflected the southern African country\u2019s urgent need to ease a US dollar shortage and manage debt, rather than geopolitical alignment, but also a quiet advance for China\u2019s long-term strategy to internationalise its currency.<\/p>\n

It had also created a tangible blueprint for other resource-rich, debt-laden African nations<\/a> with deep trade ties to China, they added.<\/p>\n

Dr Charles Mak of the University of Bristol Law School interpreted the move as a practical response to acute dollar shortages rather than a political signal.<\/p>\n

\u201cFor a government under severe liquidity pressure, accepting the currency of its largest creditor and trading partner is a rational way to ease balance-of-payments stress, reduce transaction costs and manage debt service more efficiently,\u201d the lecturer and assistant professor said.<\/p>\n

The move did, however, have wider implications, Mak noted.<\/p>\n","protected":false},"excerpt":{"rendered":"As of January, Zambia has begun collecting taxes and royalties from Chinese mining firms in yuan, and will…\n","protected":false},"author":2,"featured_media":735938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[218304,218301,3801,51,1395,218302,218305,218306,1700,52294,218300,10544,218303,16,15,25179,3383,42844,41606],"class_list":{"0":"post-735937","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-africa-institute","9":"tag-bank-of-zambia","10":"tag-beijing","11":"tag-business","12":"tag-china","13":"tag-china-nonferrous-metal-mining-group-cnmc","14":"tag-chinese-mining-firms","15":"tag-copperbelt","16":"tag-economy","17":"tag-ethiopia","18":"tag-hakainde-hichilema","19":"tag-kenya","20":"tag-lusaka","21":"tag-uk","22":"tag-united-kingdom","23":"tag-university-of-bristol","24":"tag-us-dollar","25":"tag-yuan","26":"tag-zambia"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115997363787423825","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/735937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=735937"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/735937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/735938"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=735937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=735937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=735937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}