People's Bank of China: The central banks of China and Argentina have renewed their bilateral local currency swap agreement.

On August 6, the People's Bank of China announced that, with the approval of the State Council, it has recently renewed the bilateral local currency swap agreement with the Central Bank of Argentina, with a swap scale of 130 billion RMB/280 trillion Argentine Pesos. The agreement is valid for five years and can be extended by mutual consent. The renewal of the bilateral local currency swap agreement between China and Argentina will further deepen financial cooperation between the two countries, promote bilateral economic and trade exchanges, and maintain financial market stability. This article is excerpted from the "People's Bank of China" official account, edited by Liu Jiayin.