China and South Africa agreed to organize calculations in yuan

Almaty. July 8. Silkroadnews - The People's Bank of China (PBC) and the South African Reserve Bank have signed a memorandum on the organization of yuan settlements in South Africa, reported the newspaper "People's Daily".
"After the signing of the document will be determined the bank through which payments will be held in RMB in South Africa. This step will facilitate the use of the yuan enterprises and financial institutions of the two countries as a means of international payments in cross-border operations, and promote trade and investment procedures",- said in a statement.
South Africa became the first country in Africa to sign such agreement with China.