Buenos Aires, April 26 (Xinhua) — Wang Zhongyi The Argentine government announced Tuesday that it will use renminbi to settle imports from China.
Argentine Economy Minister Felipe Massa said at the press conference that Argentina’s use of RMB in the settlement of imports from China means the further activation of the China-Argentina currency swap agreement, which will help strengthen Argentina’s foreign exchange reserves and is of great significance to the improvement of Argentina’s current economic situation.
Massa said the country’s April imports of $1.04 billion worth of goods from China would be paid for in yuan. In addition, $790 million worth of goods imported in May are also expected to be paid for in yuan.
Chinese Ambassador to Argentina Zou Xiaoli said at the press conference that strengthening China-Argentina economic and trade cooperation is an important part of the comprehensive strategic partnership between the two countries, and the two economies are highly complementary and have huge potential for cooperation. China attaches great importance to monetary and financial cooperation with Argentina and is ready to work with Argentina to encourage enterprises to use more local currency settlement in bilateral trade and investment on the premise of respecting the independent choice of the market, so as to reduce exchange cost, reduce exchange rate risks and create a favorable policy environment for local currency settlement.