China Plants Another Africa Marker in Campaign to Globalize Yuan

Zambia is the first African country to let Chinese mining companies pay taxes in yuan. It probably won’t be the last, as Beijing seeks to internationalize the currency and dilute...

By Matthew Hill, Fran Wang · Bloomberg Markets

Zambia is the first African country to let Chinese mining companies pay taxes in yuan. It probably won’t be the last, as Beijing seeks to internationalize the currency and dilute its dollar dependence.