Standard Chartered Bank (China) chief executive said on China-Africa trade recently, based on the standard chartered bank for many years of the successful experience in China-Africa service trade and business, we think the China-Africa trading will present three trends of complement each other.
First, with the ascension of the value chain both in economy, the trade range will expand from raw material and low price products to high value-added products and services;
Second, more and more African countries will join China-Africa trade and investment with the rising of African consumer class;
Third, by the end of 2020, we expect the RMB will become the core of Africa payment, investment and reserve currency.
Written by Dora Men