Chinese Yuan Use Spreads in Asia, Africa

Chinese yuan use spreads in Asia, Africa

The Chinese yuan is increasingly being used in developing nations in Asia and Africa, a success for Beijing in its efforts to combat the ubiquity of the dollar. The head of China’s central bank last month outlined his desire for a multipolar global currency order, and new data suggests that — despite the greenback’s global dominance — those hopes are, slowly becoming reality: The share of dollar-denominated loans in emerging Asian economies decl…

Chinese banks trim dollar lending to developing Asia

HONG KONG/TOKYO -- The dollar is losing share to the Chinese yuan in lending to developing nations in Asia, marking a rare success for Beijing in its

China & Africa: The Yuan Challenges the Dollar, a New Balance in Global Currencies? - Economic Scenarios

China is stepping up its efforts to promote the yuan's global use , and Africa is emerging as a crucial testing ground for this strategy. The goal is

Africa-China Trade: Stanbic IBTC Bank Gets CNY800m Loan for Nigerian Firms

By Modupe Gbadeyanka A CNY800 million term loan agreement has been secured by Stanbic IBTC Bank Limited from China Development Bank to provide enhanced financing solutions to Nigerian corporates and institutions engaged in Africa-China trade and investment flows. A statement from the Nigerian lender disclosed that the partnership between the two organisations is expected to […]

Stanbic IBTC Bank Secures CNY800 Million Term Loan Agreement With China Development Bank - Brand Spur

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, is pleased to announce the successful signing of a 3-year, CNY800 million term loan agreement with China Development Bank (CDB). This landmark facility, executed under the strategic collaboration framework between Standard Bank Group (SBG) and CDB, marks a significant milestone in deepening financial cooperation between Africa and China.   The facility underscores Stanbic IBTC Bank’s dire…