Argentina to pay for Chinese imports in yuan, not dollars

ARGENTINA will pay for Chinese imports in yuan instead of US dollars in order to preserve its dwindling foreign reserves, Economy Minister Sergio Massa said yesterday.

The South American country will be able to “programme a volume of imports in yuan worth (the equivalent of) more than US$1 billion (RM4.46 billion) from next month,” Massa said at a meeting in Buenos Aires with China’s ambassador Zou Xiaoli.