Chinese central bank - the People's Bank of China (PBOC) has signed a memorandum of cooperation with the Argentine Central Bank or BCRA on arranging Renminbi (RMB) clearing-related work in Argentina Hence, PBOC would appoint banks to provide RMB clearing services in Argentina, good for boosting both Chinese and Argentine enterprises and financial institutions to use RMB in cross-border transactions and facilitating mutual trade and investment.
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