Advancing the Chinese yuan internationalization does not depend on a single pathway, but rather focuses on diversified development as the core future direction, Ashor Nick Sarupen, South Africa's deputy finance minister, said during #AMNC26 yesterday. At the end of last year, the Standard Bank of South Africa became the first African lender to directly connect to China's Cross-Border Interbank Payment System, opening a faster channel for African firms to settle transactions with Chinese suppliers in yuan, he added. #SummerDavos2026