InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate

People attend a ceremony to mark the Bank of China’s 10th anniversary as a renminbi (RMB) clearing bank in Zambia, in Lusaka, Zambia, on May 23, 2025. The Bank of China (BoC) on Friday celebrated a decade of operating as a renminbi (RMB) clearing bank in Zambia, reaffirming its commitment to promoting cross-border financial services across East and Central Africa. (Xinhua/Peng Lijun)

LUSAKA, May 23 (Xinhua) — The Bank of China (BoC) on Friday celebrated a decade of operating as a renminbi (RMB) clearing bank in Zambia, reaffirming its commitment to promoting cross-border financial services across East and Central Africa.

Discover 10 Best FX EAs That Are Worth Investing

The ceremony in Lusaka, Zambia’s capital, drew officials from the Chinese bank, the Chinese Embassy, and the Zambian government, as well as corporate clients.

Jin Jun, counselor of the Chinese Embassy in Zambia, hailed the bank’s role in advancing RMB internationalization and facilitating bilateral trade and investment.

“It is reported that RMB cross-border settlements between Chinese and Zambian enterprises have been steadily increasing, with some companies already institutionalizing RMB settlements in bilateral transactions,” he said.

He called for broader RMB adoption to enhance local financial stability, improve corporate efficiency, and reduce exchange rate risks. The RMB, he added, offers a viable alternative for Africa’s foreign exchange diversification as the world’s fourth most used payment currency.

Li Xuewen, managing director of BoC Zambia, said that the bank has actively promoted RMB services in Zambia throughout its nearly 30 years of operation in the country. He pledged to leverage BoC’s global platform to support Zambian businesses entering the Chinese market and to facilitate Chinese investment in Zambia.

Lillian Bwalya, permanent secretary in Zambia’s Ministry of Commerce, Trade, and Industry, said the use of national currencies in cross-border trade would lower transaction costs, mitigate exchange rate risks, and foster a more stable business environment. This approach can safeguard trade even during global instability, she said, citing the RMB’s convenience and role in cushioning financial risks.

Lyness Mambo, director of the prudential supervision department at the Bank of Zambia, stated BoC’s efforts had strengthened the local financial market and bolstered China-Zambia trade ties, noting that growing RMB usage could increase liquidity in Zambia’s forex market, lower exchange costs for businesses, and reduce dependence on other currencies. ■

People attend a ceremony to mark the Bank of China’s 10th anniversary as a renminbi (RMB) clearing bank in Zambia, in Lusaka, Zambia, on May 23, 2025. The Bank of China (BoC) on Friday celebrated a decade of operating as a renminbi (RMB) clearing bank in Zambia, reaffirming its commitment to promoting cross-border financial services across East and Central Africa. (Xinhua/Peng Lijun)

Discover 10 Best FX EAs That Are Worth Investing
Share
0
FacebookTwitterPinterest
previous post
Chinese Firms’ Plan to Avoid Stock Delisting: Buy Trump’s Memecoin
next post
Montana 1st State to Ban Sweepstakes, SPGA Calls Law ‘Reckless’

Related Posts

Ethereum and Chainlink Whales Accumulate MAGACOIN FINANCE Before...

08/29/2025

Tron (TRX) Holders Are Jumping Ship to Ruvi...

08/28/2025

Bitcoin Slides as Investors Hope For Bullish Price...

08/27/2025

BITCOIN REVERSAL NOW SHOWING 123 TOP FORMATION! for...

08/26/2025

2 cyber scammers held from Punjab, Andhra for...

08/25/2025

Why AI Can’t Work in Sri Lanka…Yet

08/25/2025

If You’d Invested $1,000 In Dogecoin 5 Years...

08/24/2025

Ethereum Hits Record $4,880 After 15% Intraday Rally

08/23/2025

Bitcoin Price Stumbles to $112,301 Ahead of Powell’s...

08/22/2025

Brisk Pak-US engagement – Pakistan Observer

08/16/2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

61  +    =  65

Recent Posts

  • Ethereum and Chainlink Whales Accumulate MAGACOIN FINANCE Before 2025 Breakout
  • Tron (TRX) Holders Are Jumping Ship to Ruvi AI (RUVI) as It Nears a 33% Price Surge, Its Presale Hits Record Speed Thanks to Institutional Backing – South Africa Today
  • Bitcoin Slides as Investors Hope For Bullish Price Action – Tekedia
  • BITCOIN REVERSAL NOW SHOWING 123 TOP FORMATION! for BITSTAMP:BTCUSD by TradeTheIndex
  • 2 cyber scammers held from Punjab, Andhra for duping bizmen of Rs 7cr | Bhubaneswar News – Times of India

Top Articles

  • The Best Copy Trading Platforms List: Pros, Cons and Comparison

    06/28/2022
  • Best 5 Silver Backed Cryptocurrency to Buy Right Now

    05/09/2022
  • Desktop Crypto Portfolio Tracker: Best 5 for Investing & Active Learning

    04/23/2022
  • Top 5 Best Coins to Mine for Beginners

    10/04/2021
  • Best Forex Robots – Top 10 FX EAs 2022

    10/04/2021

Categories

  • Analysis (17)
    • Fundamental Analysis (9)
    • Technical Analysis (8)
  • Investing 101 (112)
    • Crypto (66)
    • Forex (8)
    • Options (6)
    • Stock Market (32)
  • News (190)
  • Reviews (183)
    • Brokers (7)
    • Crypto Robots (26)
    • Forex Expert Advisors (138)
    • Forex Signals (2)
    • Investing Apps (9)
  • Strategies (90)
    • Arbitrage (12)
    • Day Trading (25)
    • Investing (18)
    • Options (13)
    • Swing Trading (19)
  • Top (7)
  • Uncategorized (5)
  • Home
  • Contacts

@2023 - All Right Reserved. Investgrail.com

InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate