STORY: Incorporation of yuan to benefit both parties: Argentina's business leader
DATELINE: July 14, 2023
LENGTH: 00:01:36
LOCATION: Buenos Aires
CATEGORY: ECONOMY

SHOTLIST:
1. various of street views and ICBC in Argentina
2. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A.
3. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A.

STORYLINE:

Argentina has initiated the opening of bank accounts in Chinese currency renminbi, or the yuan.

Liex S.A., a subsidiary of the Chinese firm Zijin Mining, became the first client of ICBC Bank Argentina branch to open an account in yuan.

It came after the Central Bank of Argentina (BCRA) incorporated the Chinese yuan as an eligible currency for deposits in savings and current accounts at the end of June.

SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A.
"We are very pleased to be one of the first customers to be able to operate through currency exchange using yuan; after a visit by representatives of the Argentine government to China, we found the alternative to overcome the regulation of dollars; it was a limitation that had been occurring in the mining sector, but we will now operate through yuan, so we are very happy to have that opportunity."

SOUNDBITE 2 (Spanish): TOMAS DE PABLOS, President of Liex S.A.
"Thanks to this opportunity, I believe that many projects will be able to be developed at a time when Argentina is trying to grow and solve some geopolitical issues, so I think it is the best alternative that at least in Argentina we can receive, and surely both parties will benefit and take advantage of it."

Xinhua News Agency correspondents reporting from Buenos Aires.
(XHTV)