RMB (Ren Min Bi) Cross Border trade settlement initiative:
Trade between Africa and China has never been easier. Enjoy transactional convenience and great savings through direct processing of CNY/RMB transfers to China and Hong Kong. With the RMB Cross Border Trade settlement, you are guaranteed savings on Foreign exchange losses by transacting directly using the Chinese Yen.
Please note that not everyone in China is permitted to invoice or receive RMB from abroad. There is a list of permitted entities. We've made it easier for you to find out the entities permitted to receive RMB from abroad, refer to the following link:
Always find out if your potential receipt is allowed to receive RMB.