Chinese Ambassador commends rebased currency

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File:President Sata talks to Chinese Ambassador to Zambia Zhou Yuxiao
File:President Sata talks to Chinese Ambassador to Zambia Zhou Yuxiao

Chinese Ambassador to Zambia Zhou Yuxiao says the newly launched rebased Zambian currency will make business easy for Chinese investors working in Zambia due to its similarity to their currency Yuan.

The Chinese Ambassador noted that the Chinese people will have no difficulties understanding the rebased Zambian currency because the new notes and coins have less zeros which used to confuse them.

Mr Yuxiao disclosed that the Chinese government through the Bank of China based in Zambia has made enough sensitization to Chinese nationals living in Zambia by using the Chinese language especially for those that do not understand English.

He noted that the Bank has also printed the adverts in the daily papers for Chinese nationals who are unable to access the Bank of China which is in Lusaka so that that they are not caught unaware.

He added that the embassy will further post the new rebased currency on the website as part of the sensitization campaigns.

The Ambassador noted that the rebasing of the currency is a good thing for the economy and investors who have pumped their monies into the country.

He said the Chinese investors are confident of the good economic policies of Zambia adding that even the rebasing of the currency is not a new thing to them as they are always kept aware by government.

The Ambassador further hailed the good investment policies by the Patriotic Front government and assured that his country hopes to continue increasing investments in Zambia.

Mr Yuxiao noted that Zambia being a peaceful country coupled with its sound economic policies, investors will always abide by the changes such as the kwacha rebasing.

He disclosed that his countrymen and women have invested in excess of US$2 billion in various sectors of the economy.

The Chinese Ambassador was among the dignitaries that attended the official unveiling of the new notes and coins at the Government Complex in Lusaka this morning.

The new currency will be in circulation starting tomorrow and will circulate alongside the old currency up to 30th June 2013.

ZANIS

9 COMMENTS

  1. vote

    Good job for the PF indeed. Keep it up guys while ignoring those born hares and frustrated.

    Peace and Prosperity to Mother Zambia.

  2. vote

    PF, welldone.A leader should leave a mark.This Govt. is on the right track.Unless you are blind you will disagree.

  3. vote

    Good move, it was disgracing to zambians leaving abroad when you want to send $200 or £200 in Zambia is in millions. Even the person at the till can even state how much if asked. Zeros use to confuse visitors from other countries.

  4. vote

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