Foreign Ministry Spokesperson Mao Ning Photo: Ministry of Foreign Affairs

China stands ready to work with the new government of Argentina for the sustained and steady development of the China-Argentina comprehensive strategic partnership, Foreign Ministry spokesperson Mao Ning told a regular press conference on Wednesday.

Mao made the statement while responding to a question over the two countries' currency swap deal.

"I suggest you consult with competent authorities over the matter," Mao said. 

Mao noted that the Foreign Ministry has on multiple occasions stated China's position - China values its relations with Argentina from a strategic and long-term point of view and stands ready to work with Argentina for sustained and steady development of the China-Argentina comprehensive strategic partnership.

On Tuesday, Argentina's new Economy Minister Luis Caputo said that Argentina will weaken its peso by more than 50 percent to 800 per US dollar, cut energy subsidies and cancel tenders of public works, as part of an economic shock therapy.

Chinese experts said that if Argentina's new President Javier Milei wants to move from the peso after taking office, as he proposed during the election campaign, the country would need support from the existing currency swap agreement with China.

The country will also need China's cooperation and support in dealing with its current external debt and international liquidity crisis, they noted.

In June, Argentina used the yuan to settle its debt obligations for the first time when it made a payment on a maturing IMF debt with Special Drawing Rights and freely available yuan. 

The country's Ministry of Economy announced in October that it will again use the yuan to repay part of its IMF debt and has reportedly done so.

Earlier this week, Milei stressed that the new government of Argentina attaches high importance to its relations with China and will continue to firmly follow the one-China principle.

The Argentine side stands ready to further promote in-depth exchanges and cooperation between the two countries in various fields including the economy, trade and cultural areas and people-to-people exchanges.