介绍:
China's central bank on Friday authorized the Industrial and Commercial Bank of China (ICBC) to clear renminbi business in Argentina.
The People's Bank of China has made the decision after the signing of a memorandum of understanding on establishing a yuan clearing system.
China is Argentina's second-biggest trade partner and biggest destination of farm produce exports.
China is also the country's third-biggest source of investment.
The two sides inked a 70-billion-yuan, or 11 billion U.S. dollar currency swap deal last July.
ICBC has now been authorized for yuan clearing in six foreign countries.
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