国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

chinadaily.com.cn
left corner left corner
China Daily Website

Yuan to figure more in Sino-African trade

Updated: 2012-07-13 13:26
By Wang Xiaotian ( China Daily)

Yuan to figure more in Sino-African trade

Chinese and African traders are becoming increasingly interested in settling transactions in yuan. [Photo/China Daily]?

Trade between China and Africa will be increasingly settled in yuan, and Chinese financial institutions should prepare for that development, said a senior executive at African Export-Import Bank (Afreximbank) on Thursday.

Chinese and African traders are becoming increasingly enthusiastic about settling transactions in yuan. In light of that, lenders must cooperate more and move faster to restructure their businesses, said Okey Oramah, executive vice-president at Afreximbank.

"We are working together with the Export-Import Bank of China and regulators to make sure such transitions would go stably," said Oramah.

He made the remarks while attending a media conference in Beijing held in advance of a Sino-African financial cooperation forum on Friday.

The Export-Import Bank of China, a policy bank for the country, holds about 2.5 percent of Afreximbank's shares. The Chinese bank now has $130 billion in outstanding loans to Africa, according to Sun Ping, vice-president of the lender.

China has been working to internationalize its currency. Last year, more than 2 trillion yuan ($313.7 billion) in international trade was settled in yuan, of which 92 percent was conducted in Hong Kong.

In the first half of the year, 1.25 trillion yuan worth of trade was settled in yuan, up by 76 percent year-on-year. And the amount of foreign direct investment settled in the Chinese currency stood at 110.5 billion yuan, according to data released by the central bank on Thursday.

"In the next five years we will see a big increase in the amount of trade between China and Africa that is settled in yuan," said Mei Xinyu, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

"China's demand for natural resources in Africa and Africa's demand for Chinese products are all big and constant, which sets a sound foundation for both sides to take payments in and make payments out in yuan,"

He forecast about 30 percent of trade between China and Africa will be settled in yuan by 2016, saying the proportion could even be as high as 50 percent.

China is Africa's largest trading partner, with $160 billion worth of trade volume last year. In both 2010 and 2011, the value of trade between the two sides increased by about 30 percent year-on-year.

By the end of 2011, China had invested nearly $15 billion in Africa, and more than 2,000 Chinese enterprises had put money into the continent, Sun said.

Oramah said investments and capital flow between China and Africa have increased at a slower pace than growth in bilateral trade, "which means that the cooperation in that regard hasn't seized the opportunities brought about by the rapid growth in trade".

He said the two places' financial cooperation, in its next stage, should place a priority on the private sector.

wangxiaotian@chinadaily.com.cn

 

...

...
...
白水县| 玛多县| 富蕴县| 九龙城区| 伽师县| 达孜县| 天全县| 三门峡市| 磐石市| 台北市| 石棉县| 石狮市| 博野县| 晋宁县| 南昌市| 通渭县| 莱西市| 巴马| 崇州市| 黑河市| 康乐县| 通许县| 斗六市| 郑州市| 安多县| 绍兴县| 习水县| 奈曼旗| 漯河市| 革吉县| 沈阳市| 龙山县| 皮山县| 绥芬河市| 安仁县| 清涧县| 苏尼特右旗| 中卫市| 梨树县| 上犹县| 天门市|