Chinese in Guangzhou now accept cedis

The cedi has been depreciating against its international peers.

The cedi has been depreciating against its international peers.

The Ghana cedi has made its mark in Guangzhou city and is now accepted by restaurants in the Chinese city.

This follows negotiations that had existed between Ghana and China in the past days to accept the Ghanaian currency.

A statement copied to the Ghana News Agency stated that, Mr. Horace Nii Ayi Ankrah, Deputy Ambassador to China, during a two-day working visit to Guangz-hou, briefed management of the business entities of the advantages of accepting the cedi in a trading city like Guangzhou.

Mr. Ankrah was in the vicinity to interact with Ghanaian traders who had travelled to Guangzhou to trade.

He assured the few traders he met that the mission in Beijing would do everything in its power to assist them in their endeavours.

Trade Volume between Ghana and China for 2015 hit six billion dollars.

China’s non-financial direct investment in Ghana reached $230 million in 2014, ranking second after the Republic of Congo among Chinese investment in the 24 mid-West African countries.

The Asian country’s investment in Ghana jumped from the 10th in 2013 to fifth in 2014.

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