Argentine companies expect RMB accounts to add new momentum to development

2023-07-14

After the Central Bank of Argentina announced on June 29 that it could open RMB accounts in financial institutions in the country, Internationalization of the renminbi has attracted extensive attention in Argentine society and become a "hot word". The reporter learned in the interview that the Argentine business community welcomes the internationalization of Internationalization of the renminbi and expects the RMB account to provide greater convenience in trade and financing with China and add new momentum to the development of enterprises. A few days ago, the reporter met the first RMB account customer of ICBC (Argentina) Co., Ltd. (ICBC Argentina) in the headquarters building in Buenos Aires - Chief administrative officer Thomas de Pablos of the Argentinian lithium resource development enterprise Lithium Cose. He has just submitted the opening procedures of the company's RMB account. Argentine companies are now able to settle imported goods from China in RMB. After learning that a RMB account could be opened, we immediately consulted the bank because a RMB account would make our imports and financing more convenient, thereby accelerating the development speed of our project, "said De Pablos. Lithium Cox is currently developing a lithium mine and building a lithium processing plant in Fey Ambala, Katamaka Province, Argentina, which is expected to be put into production this year. De Pablos told reporters that ICBC Argentina has been operating in Argentina for many years and has rich experience in serving local enterprises. After the central bank announced the new policies, an account opening mechanism was quickly established, and ICBC Argentina promptly provided RMB account opening services to Argentine corporate clients. On July 11th, the reporter learned from ICBC Argentina that the opening procedures for the RMB account of Lithium Industry Science and Technology Co., Ltd. have been successfully completed, becoming the first RMB account opened by the bank. Alejandro Vanoli, an Argentine economist and former governor of the Central Bank of China, said in a video interview with reporters on July 12 that the Argentine business community welcomes the internationalization of Internationalization of the renminbi, because China is one of Argentina's most important trade partners, and many Chinese enterprises invest and undertake projects in Argentina. The use of the RMB will further reduce the dependence on other currencies in these economic activities, reduce transaction costs, and create more possibilities for the development of Arab Chinese enterprises in the fields of import, export, and investment and financing. The reporter also learned from channels such as the Argentine Banking Association that many Argentine enterprises and individuals are interested in opening RMB accounts and have called banks to inquire about account opening matters. Multiple banks are studying the establishment of RMB account opening mechanisms. In an exclusive interview with reporters on June 30, Miguel Angel Pace, President of the Argentine Central Bank, said that Argentina welcomes the internationalization of Internationalization of the renminbi and that both sides are working hard to create conditions to further promote the use of RMB in Argentina. (New News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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