{"id":443499,"date":"2026-02-01T21:26:11","date_gmt":"2026-02-01T21:26:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/443499\/"},"modified":"2026-02-01T21:26:11","modified_gmt":"2026-02-01T21:26:11","slug":"chinas-plan-to-internationalise-yuan-quietly-takes-a-step-forward-as-zambia-gets-on-board","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/443499\/","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":443500,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[208700,208697,550,28,144,208698,208701,208702,101,41365,208696,26679,208699,80634,9336,9342,7114],"class_list":["post-443499","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-africa-institute","tag-bank-of-zambia","tag-beijing","tag-business","tag-china","tag-china-nonferrous-metal-mining-group-cnmc","tag-chinese-mining-firms","tag-copperbelt","tag-economy","tag-ethiopia","tag-hakainde-hichilema","tag-kenya","tag-lusaka","tag-university-of-bristol","tag-us-dollar","tag-yuan","tag-zambia"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/443499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=443499"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/443499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/443500"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=443499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=443499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=443499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}