For African countries, access to China's RMB-denominated capital markets can diversify financing sources and provide new options for entities with trade and investment links with China. For RMB internationalization, participation by overseas governments and financial institutions in China's bond market expands the currency's role in financing and investment.

　　At the same time, RMB internationalization remains a long-term process. Wider global use of a currency depends not only on trade volumes, but also on financial market depth, availability of RMB-denominated assets, payment network efficiency and overseas investors' willingness to hold RMB assets over time.