Sino-African RMB trade set to reach $100 billion by 2015

Standard Bank's latest research shows just how quickly the internationalisation of the renminbi is affecting China’s trade with Africa.

According to new research from South Africa-based Standard Bank, at least 40%, or $100 billion, of China’s trade with Africa will be denominated in renminbi by 2015. This amounts to more than the sum total of Sino-African trade in 2010. Additionally, at least $10 billion of Chinese investment into Africa will be denominated in renminbi over the same period.  

The main benefits for Africa from the internationalisation of the mainland Chinese currency and greater...

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