Zambia Says Some Copper Sales to China to Be Settled in Yuan

AI Summary

Zambia says some Chinese purchases of its copper will be settled in renminbi starting next year. The shift is part of a broader trend among African countries toward using China’s currency in trade instead of the US dollar.

Zambia said Chinese buyers of its copper exports will start paying for some of their metal purchases in renminbi from next year, part of a growing move among African nations to use the Chinese currency instead of the dollar.