Egypt Eyes Deeper Yuan Ties With China

Egypt’s Prime Minister Mostafa Madbouly (2nd R) speaks during a bilateral meeting with China’s President Xi Jinping (2nd L) ahead of the Shanghai Cooperation Organisation (SCO) Summit in Tianjin on August 30, 2025. (Photo by ANDRES MARTINEZ CASARES / POOL / AFP)

In a call with Chinese Foreign Minister Wang Yi, Egyptian Foreign Minister Badr Abdelattyi signaled Cairo’s interest in doubling the value of its existing currency swap agreement with Beijing—a move that would reduce Egypt’s reliance on dollar-denominated financing for bilateral trade.

Abdelattyi also flagged plans to expand Egypt’s $500 million Chinese bond issuance and deepen cooperation with the China Development Bank to secure additional foreign currency liquidity.

  • Get a daily email packed with the latest news and analysis from Africa, Asia, and across the Global South.
  • Read exclusive insights on the key trends shaping China’s relations across the Global South.
  • Full access to the News Feed that provides daily updates on Chinese engagement in the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by CGSP Staff

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2
Uncertainty Roils Minerals Markets
3 Chinese Scholars See Russia’s Venezuela Strategy as a Model of Hybrid Power Projection in the U.S.’ Backyard
4 India Forced to Pay Russia in Yuan, Handing China an Unexpected Win
5 From J-10C to Kaan? Indonesia’s Fighter Jet Deal With Turkey Shocks Chinese Military Fans
6 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C

You Might Like

Brazil’s Central Bank Quadruples Yuan Holdings, Raising Chinese Hopes for Greater RMB Acceptance

Brazil’s Central Bank increased its reserves of Chinese renminbi (RMB) fourfold last year. It is the latest indication that the RMB is set to become much more influential in the global financial landscape. ...

UAE Asks Trump Administration for Lifeline, Raises Yuan Transactions: Report

The Wall Street Journal reports that the United Arab Emirates has initiated talks with the Trump administration about a possible dollar swap line to serve as a financial backstop against further damage related ...

China’s Big Push to Dominate the Egyptian Automotive Market

Chinese auto brands are revving up to capture an even bigger share of the Egyptian vehicle market, one of the three largest in Africa. The state-run auto major BAIC Motors opened a flagship ...

France Hopes a Focus on Small Business Will Help it Gain an Advantage Over China in Africa

The French government has urged business leaders and investors at a key summit last week to be bold about investing in Africa. Paris is banking on the potential of small to medium enterprises ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP
Detected IP: ...