The Society for Worldwide Interbank Financial Telecommunications, or SWIFT, said on Wednesday that South Africa has used more Chinese yuan in payments in the past year.
According to SWIFT data, yuan payment in South Africa increased 65 percent in the past twelve months, and 112 percent in the past two years. 40 percent of South Africa's renminbi payments ran to areas outside of the Chinese mainland and Hong Kong, much higher than the 16 percent a year earlier.
SWIFT said that the rapid growth of yuan payment in South Africa enhanced trade between the two countries. South Africa set up a renminbi clearing center in July 2015.