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The Chinese Mining Enterprises Association of Zambia (CMEAZ) has welcomed government’s decision to allow mining taxes to be settled in Chinese yuan (RMB), describing it as a pragmatic step toward creating a more stable environment for long-term investment.
CMEAZ President, Wang Jingjun, made the remarks during a Tax Compliance and Risk Management Workshop held in Lusaka on Wednesday under the theme: “Compliance, Collaboration, and Commitment to Zambia’s Mining Future.”
The event was attended by senior officials, including Permanent Secretary, Prudence Kaoma, from the Ministry of Finance and National Planning, Economic and Commercial Counsellor of the Chinese Embassy in Zambia Jin Jun, and Sibupiwa Mwangelwa, Assistant Commissioner at the Zambia Revenue Authority, alongside industry experts and representatives of Chinese enterprises.
Wang said the mining sector continued to play a key role in Zambia’s economic development and had experienced strong growth in recent years.
“With the strategic guidance of the Ministry of Finance and National Planning, the country is witnessing a clearer focus on transparent governance, fiscal responsibility, and risk mitigation,” he said.
He added that tax compliance was not only a legal requirement but also essential for contributing to national development through support for infrastructure, social programmes and economic growth.
“We are particularly encouraged by the Government’s forward-looking and practical reforms, including the decision to allow mining taxes to be settled in RMB. CMEAZ and its members are committed to fully utilizing this policy responsibly and ensuring accurate and timely tax settlement,” Wang said.
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He said the policy would improve financial planning and reduce exposure to exchange rate volatility.
“This forward-thinking measure provides greater stability for our financial planning, helps mitigate exposure to exchange rate fluctuations, and enables our companies to allocate more resources toward strengthening tax compliance and risk management systems,” he said.
Wang said sustainable mining required a shared commitment, adding that CMEAZ was guided by principles of integrity and accountability, capacity building and knowledge sharing, and collaboration with policymakers.
He reaffirmed the association’s support for Zambia’s national development agenda, saying the workshop marked a step toward improving financial transparency, operational efficiency and long-term stability in the sector.
Wang also thanked the Zambia Chinese Association and the Chinese Chamber of Commerce in Zambia for their continued partnership.
“Together, let us continue to strengthen compliance, mitigate risks, and ensure that the Chinese mining community in Zambia remains a trusted and enduring partner in the country’s development journey,” he said.
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