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Argentina will use renminbi for all imports from China

Publish Time

2023-04-28

Argentina has decided to shift from the US dollar to the renminbi for all settlements of imports from China, a win-win development that will help Argentina strengthen its foreign exchange reserves and boost the renminbi's global profile, experts said on Thursday.

Starting from May, Argentina's imports from China will all be settled in renminbi, instead of the US dollar, said a statement published on Thursday by the official WeChat account of China's embassy in Argentina.

This will help Argentina bolster its foreign exchange reserves, maintain its scale of imports and facilitate bilateral trade with China, the statement said, quoting Argentina's Economy Minister Sergio Massa.

(From China Daily)