ICBC, Standard Bank unveil measures to boost RMB use in China-Africa trade
By Jiang Xueqing |
chinadaily.com.cn |
Updated: 2026-10-27 13:13
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The Industrial and Commercial Bank of China and Standard Bank Group recently unveiled 10 measures to advance cross-border renminbi usage in the China-Africa corridor in Beijing. Richard de Roos, Standard Bank Group's head of group payments, said improved payment infrastructure, China's capital markets and shifting global trade patterns are creating new opportunities for RMB settlement. The initiative aims to enhance payment efficiency, expand trade finance and foster RMB ecosystems across Africa. De Roos expressed confidence that significant changes would emerge within three to four years, strengthening business ties and two-way RMB flows.
Zheng Zihang contributed to this story.
jiangxueqing@chinadaily.com.cn
