Day: October 12, 2025

Why Kenya’s swap of dollar loans for Chinese yuan offers more than debt relief

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Kenya has converted its US dollar-denominated railway loans from China into the Chinese yuan, not only securing debt relief but also fitting into Beijing’s long-term goal of internationalising its currency. Advertisement Analysts said the decision, announced by Kenya last week, paved the way for other debt-stressed African countries and could ultimately draw them closer to China. Kenyan Treasury Minister John Mbadi said on Tuesday that the country’s US$5 billion Chinese railway loans had been converted to Chinese yuan, in a move expected to cut annual debt-servicing costs by US$215 million.…

Chinese stocks race ahead as reforms take hold

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Chinese stocks are outpacing global peers by the widest margin in eight years, in a sign that policymakers’ efforts to revive the market are bearing fruit even as many foreign investors hesitate to return. The MSCI China index has surged 35 per cent this year, compared with a 14 per cent gain in the MSCI World index of developed market stocks, the largest margin of outperformance since 2017.  This year’s rally comes after many global fund managers last year branded China — whose stock market had been in near-constant decline…