China’s plan to internationalise yuan quietly takes a step forward as Zambia gets on board

South China Morning PostCenter-RightEN 1 min read 100% complete by Jevans NyabiageFebruary 1, 2026 at 02:00 PM

AI Summary

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Zambia has begun accepting yuan for tax and royalty payments from Chinese mining companies, starting in January. This arrangement allows Zambia to directly transfer the yuan to Beijing for imports and debt servicing. Experts suggest the move is primarily driven by Zambia's need to alleviate a US dollar shortage and manage its debt. While not necessarily a political alignment, this development represents a step forward in China's long-term goal of internationalizing the yuan. The situation also creates a potential model for other African nations heavily indebted to and trading with China. Analysts note that accepting the yuan can be a practical solution for countries facing liquidity pressures.

Key Entities & Roles

Key Player Opposition Context

University of Bristol Law School 40% Beijing 50% African 50% Dr Charles Mak ×260% Chinese 60% Yuan 70% United States dollar 70% China ×380% Zambia ×290%

Keywords

yuan internationalization 90% zambia 80% china 80% us dollar shortage 70% debt management 60% trade ties 50% mining firms 40% balance of payments 40%

Sentiment Analysis

Neutral

Score: 0.10

Source Transparency

Source

South China Morning Post

Political Lean

Center-Right (0.50)

Far LeftCenterFar Right

Classification Confidence

90%

Geographic Perspective

Zambia

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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yuan internationalization zambia china us dollar shortage debt management trade ties mining firms balance of payments

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