The seminar "New Opportunities for the Use of RMB" was held in Johannesburg, South Africa

China News Service, Johannesburg, September 24 (Reporter Sun Xiang) A seminar on "New Opportunities for the Use of RMB" was recently held in Johannesburg, South Africa. Representatives from the Economic and Commercial Office of the Chinese Embassy in South Africa, the South Africa-China Economic and Trade Association, and representatives from more than 60 Chinese-funded enterprises carrying out investment and business activities in South Africa attended the meeting to discuss new trends in the international use of RMB and new opportunities for economic and trade cooperation between China and South Africa.

The event was hosted by Bank of China Johannesburg Branch. Qiu Zhongyi, Economic and Commercial Counselor of the Chinese Embassy in South Africa, and Zhang Chaoyang, President of the South Africa-China Economic and Trade Association and President of the Bank of China Johannesburg Branch, attended the meeting and delivered keynote speeches respectively. They shared and looked forward to the international use of RMB in better supporting economic, trade and investment exchanges between China and South Africa and even the African continent, and RMB financial products to support Chinese-funded enterprises in South Africa in "reducing costs and controlling risks."

In 2025, South Africa's RMB clearing volume will account for 80.2% of the entire African RMB clearing volume. RMB is gradually becoming an important part of the cost line, cash flow line and safety line of enterprises operating in Africa, creating huge potential RMB settlement and financing needs in all aspects of enterprise operations.