LUSAKA, April 8 (Xinhua) -- Chinese mining enterprises on Wednesday commended the Zambian government's move to accept mining tax payments in Chinese currency renminbi (RMB).
Wang Jingjun, president of the Chinese Mining Enterprises Association in Zambia, made the remarks at a workshop organized by the Zambian Ministry of Finance and National Planning in Lusaka, saying the companies are committed to fully and responsibly implementing the policy and ensuring accurate and timely tax settlement.
"This forward-thinking measure provides greater stability for financial planning, helps mitigate exchange rate fluctuations, and enables our companies to allocate more resources to strengthening tax compliance and risk management systems," Wang said.
He said the policy reflects a pragmatic and supportive approach by the government and is a meaningful step toward fostering a more stable and enabling environment for responsible and long-term investment.
Chinese enterprises have invested billions of U.S. dollars in Zambia and remained resilient during industry downturns, Wang added.
He reiterated the enterprises' commitment to aligning their operations with Zambia's national policies and contributing to its broader fiscal and development objectives.
Zambian Minister of Finance and National Planning Situmbeko Musokotwane said the government remains committed to providing an enabling, predictable, and transparent environment for the private sector to thrive.
Musokotwane said the government is focused on ensuring that economic growth is sustainable, inclusive, and environmentally responsible, supported by strict adherence to the rule of law in taxation.
Last year, Zambia officially began accepting RMB for mining tax payments, becoming the first African country to do so.
