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今年早些时候，为了抑制赞比亚货币克瓦查在2014年初的急剧贬值，赞比亚银行修订了作为财政政策一部分的外汇管理条例。该条例的修改将使向赞比亚项目贷款的中国银行获益。

于2014年3月被废止的法规是2012年第33号（以下简称33号文件）和第55号立法文件（以下简称55号文件）。33号文件禁止在赞比亚境内的外币交易，55号文件是要求贷款交易必须在赞比亚银行进行登记的框架性监管规定。

对于在赞比亚有金融项目或其他贷款项目的中国银行及其他外国金融机构来说，这些规则的改变表明规则灵活性的增强以及行政成本的降低。在33号文件废除后，借贷双方可以在赞比亚实现以外币（如美元）为标的的贷款交易，赞比亚的借方也将不必再专门开设一个本地银行账户来接收资金。依据简化了的流程，贷款可以直接从中国支付给位于赞比亚的借款人。另外，在55号文件废除后，贷款协议不需要再在赞比亚银行登记。通过这一免除，贷款的支付将更加快捷。

2007年，赞比亚-中国经济贸易合作区（ZCCZ）在谦比希和东卢萨卡设立了两个工业园区，使得赞比亚成为中国对非投资的重要目标国。赞比亚也已经成为中国中小企业的热门住所地和投资地，已经有至少100,000中国侨民在此居住，他们经营的业务广泛，包括建筑公司、私人诊所甚至养鸡场等等。

Recent amendments to foreign exchange regulations in Zambia benefit Chinese lenders

Earlier in the year, the Bank of Zambia amended foreign exchange regulations as part of monetary policy taken by Zambia to halt the depreciation of the Zambian kwacha which fell steeply in the first months of 2014.  These regulatory changes will make it more efficient for Chinese banks to lend to projects in Zambia. 

The regulations that were revoked on March 2014 with immediate effect were under Statutory Instrument No. 33 of 2012 (SI 33) and Statutory Instrument No. 55 of 2013 (SI 55).  SI 33 prohibited conducting transactions in Zambia in foreign currency and SI 55 is a monitoring framework requiring lending transactions to be registered with the Bank of Zambia.

The implication of these rule changes for Chinese banks or other foreign financial institutions engaged in project finance or other lending in Zambia is increased flexibility and reduced administrative costs. With revocation of SI 33 a lender is permitted to denominate a loan in foreign currency like the USD to the borrower in Zambia.  This allows the borrower in Zambia to avoid the requirement of opening a local bank account to receive funds.  In this simplified procedure the loan can be directly disbursed from China to the borrower in Zambia.  In revoking SI 55, the facility agreement between the lender and Zambia-based borrower will no longer need to be registered with the Bank of Zambia.  By removing this step from the process, disbursement for the loan can be more rapidly arranged.

Zambia has been a major destination of Chinese investment in Africa with two industrial zones in Chambishi and East Lusaka established since 2007 by the Zambia – China Economic & Trade Cooperation Zone (ZCCZ).  The southern African country is also a popular destination for Chinese small and medium enterprises with at least 100,000 Chinese nationals residing in the country, often operating businesses ranging from construction firms, private medical clinics, and even chicken farms.