China's African tariff removals, trade surge spur yuan adoption (opens in new tab)

submitted by Surging Chinese trade with Africa and lifting of tariffs for most countries on the continent look set to boost yuan use, aiding ​Beijing’s bid to build alternatives to Western finance. International Monetary Fund research has found that yuan usage rises with trade exposure to China Kenya last year converted three Chinese railway construction loans from dollars into yuan, cutting about $215 million a year in interest ​costs, while Zambia said in late 2025 it would begin accepting ...