China looks to Africa as testing ground for global roll-out of yuan

A growing list of African nations have made deals to explore or implement use of the Chinese currency for trade and financial transactions

During a recent meeting in Cairo, the central banks of China and Egypt signed a series of agreements to promote the use of the yuan in trade and investment. These deals – lauded by People’s Bank of China governor Pan Gongsheng as a key step in advancing economic ties – were signed last week during Chinese Premier Li Qiang’s visit to Egypt.

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