China, Zambia to encourage greater use of local currency in trade – Chinese state media

BEIJING (Reuters) – China and Zambia will push for greater use of local currency settlement in their trade and investment, the countries said in a joint statement on Friday after their leaders met.

The move was to facilitate enterprises of both countries to reduce exchange costs and exchange rate risks, Chinese state media which released the statement said.

The nations also will strengthen cooperation in mineral exploration and hold high-level exchanges between their militaries.

(Reporting by Ella Cao and Liz Lee; Editing by Alison Williams)