Speaking at the 10th International Forum on Investment and Infrastructure Construction, the Governor of the Mozambican central bank, said that Mozambique has a rising interest in making investments in yuan. The governor Rogério Lucas Zandamela said that currently 10% of Mozambique’s foreign exchange reserves were denominated in the Chinese currency. He said Mozambique was encouraged to adopt Yuan, in view of the internationalisation of the Chinese currency. The increasingly dominant role of the yuan will be further strengthened with the “Belt and Road” initiative, the infrastructure construction project to link Asia to Europe and Africa, he observed. However, he also acknowledged the risks associated with the use of Yuan as an international currency, particularly in the context of the soaring tensions between China and the United States. He welcomed the support of China in developing Mozambique’s premature Capital market
The 2019 edition of the International Forum on Investment and Infrastructure Construction forum was held on May 30-31 in Macau. More than 2,000 entrepreneurs, academics and politicians, including more than 50 leaders from 40 countries and regions participated in the event. The Forum was promoted by the Ministry of Commerce of the People’s Republic of China and the Government of Macau.
