China's central bank on Friday authorized1 the Industrial and Commercial Bank of China (ICBC) to clear renminbi business in Argentina.

中国人民银行周五授权中国工商银行在阿根廷进行人民币清算业务。

The Argentine unit of the ICBC, China's largest lender by assets, will be the country's yuan clearing bank, the People's Bank of China (PBOC) said in a statement.

The PBOC made the decision after Chinese and Argentine central banks signed a memorandum2 of understanding on establishing a yuan clearing system.

It will facilitate the use of yuan in cross-border transactions between the two nations and boost bilateral3 trade and investment, the PBOC said.

China is Argentina's second-biggest trade partner, its biggest destination of farm produce exports and its third-biggest source of investment. The two countries inked a 70-billion-yuan (11 billion U.S. dollars) currency swap4 deal in July 2014.

The ICBC has now been authorized for yuan clearing business in six foreign countries.

1 authorized

a.委任的，许可的

参考例句：

An administrative order is valid if authorized by a statute.如果一个行政命令得到一个法规的认可那么这个命令就是有效的。

2 memorandum

n.备忘录，便笺

参考例句：

The memorandum was dated 23 August,2008.备忘录上注明的日期是2008年8月23日。

The Secretary notes down the date of the meeting in her memorandum book.秘书把会议日期都写在记事本上。

3 bilateral

adj.双方的，两边的，两侧的

参考例句：

They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。

There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

4 swap

n.交换；vt.交换，用...作交易

参考例句：

I will swap you my bicycle for your radio.我想拿我的自行车换你的收音机。

This comic was a swap that I got from Nick.这本漫画书是我从尼克那里换来的。