Ugandan businesses trading with China are set to benefit from faster and potentially cheaper cross-border transactions following the integration of China’s Cross-Border Interbank Payment System into the local banking market. The platform allows companies to settle payments directly in the Chinese Yuan, reducing reliance on intermediary currencies such as the US dollar. This is expected to lower foreign exchange risks, reduce transaction costs and improve the speed of international payments between Uganda and China.The move comes at a time when trade between the two countries continues to expand, with Uganda importing goods worth about US$3.3 billion from China in 2025, while exports to China stood at US$118 million. However, businesses say the continued depreciation of the local currency remains a key risk that could affect the cost of trade.