Hu inks US$20bn investments in Argentina
18 November 2004
President Hu Jintao signed deals to invest around US$20bn in Argentina over the next 10 years. Announced in Buenos Aires on the second leg of Hu's Latin American tour, the deals include a protocol for co-operation on space technology, a memorandum facilitating more Chinese tourism in Argentina and an agreement calling for Chinese participation in a railway project. Hu said his talks with Argentine officials had reached the point of "establishing and developing a Sino-Argentine strategic partnership." From Argentina's perspective, three years after its economic crisis, the Chinese investments will be a welcome cash injection and sign of confidence in the Argentinian economy.