It recently revealed multi-year sponsorship agreements with several global sports entities, including leading German football team FC Bayern Muenchen, Italian football club AS Roma and Argentinian club Boca Juniors.

Martin Kerchner, the minister of economy, infrastructure and energy of Mendoza province, Argentina, told Xinhua News Agency that he was excited to see Xi's signed article in an Argentinian newspaper mentioning the expo.

Representatives from 15 Argentinian enterprises are attending the expo, with Argentina as the chosen national guest of honor.

Around $790 million of monthly imports is expected to be paid in renminbi, which will help reduce the demand for US dollar payments and have a positive impact on the country's foreign exchange reserves, according to an Argentinian government statement.