Argentina loosens visa requirement for Chinese citizens
Argentina is a key supplier of products including beef, soy and lithium to the Chinese market and cooperation has deepened between the two countries in recent years.
The decision by President Javier Millei was made to boost tourism and "deactivate" mechanisms which have "impeded the free development of Argentina's economy, of which tourism is a strategic area," according to a statement on the Argentine government's website.
It comes after China in May extended its visa-free policy to citizens of Argentina as well as those of Brazil, Chile, Peru and Uruguay, putting some of Latin America's largest economies on equal footing with many European and Asian countries.
In line with the exemption adopted by China, it is "deemed appropriate to adopt equivalent measures for Chinese nationals holding ordinary passports who enter for tourism and business purposes," the statement said.
China is Argentina's second-largest trading partner after Brazil and a key investor in infrastructure, energy and mining projects in the country.
China has also extended a multi-billion dollar swap line to Argentina, mollifying billions of dollars in repayments that the Latin American nation needs to pay in the coming months.
Argentina is also part of China's Belt and Road Initiative, which it joined in 2022.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
37 minutes ago
- The Guardian
Afghan translator who worked for US military detained by Ice in Connecticut
An Afghan wartime translator granted a US immigration visa after risking his life to help US troops has been detained by masked Immigration and Customs Enforcement (Ice) agents, in the latest sign that the Trump administration is willing to flout legal agreements and promises to allies in pursuit of its unprecedented immigration crackdown. Identified only as Zia S, the 35-year-old husband and father of five who entered the US in October 2024 with a visa issued by American authorities was arrested and taken away in a van last week after a routine biometrics appointment for his green card in East Hartford, Connecticut, according to his attorney, members of Congress and human-rights advocates. A judge has issued a temporary stay preventing Zia's removal from the US, but he remains in detention at a facility in Plymouth, Massachusetts. The former wartime interpreter fled Afghanistan with his family after the Taliban takeover in 2021. Zia legally entered the US in October 2024 through New York's JFK airport with humanitarian parole – and an approved special immigrant visa (SIV). This visa is a pathway to permanent residency, or a green card, for certain foreign nationals who have worked for the US government or military in specific capacities, particularly in Iraq and Afghanistan. 'What happened to him is the worst kind of abhorrent violation of basic decency,' said the Democratic senator Richard Blumenthal of Connecticut on Tuesday. 'He actually worked and risked his life in Afghanistan to uphold the values and rights that are central to democracy.' Zia is the third known Afghan ally who helped US troops to have been seized by Ice since Trump returned to power, amid growing outrage at the administration's actions. Jahana Hayes, a Democratic member of Congress for Connecticut, said she had been contacted by Zia's family because they didn't know where Ice had taken him. 'Our credibility is at stake. We have families who have risked everything not just for themselves, but for their entire family … in the name of standing up for the promises of our American democracy,' Hayes said. In a statement to Reuters, the Department of Homeland Security (DHS) said the Afghan national entered the US on 8 October 2024, and is under investigation for a 'serious criminal allegation', adding: 'All of his claims will be heard by a judge. Any Afghan who fears persecution is able to request relief.' Zia's attorney Lauren Petersen said she had no idea what the DHS was referring to. 'Zia has done everything right. He's followed the rules. He has no criminal history,' said Petersen, adding that he was approved for humanitarian parole due to a direct threat from Afghanistan's Taliban rulers. 'If he is deported … he faces death.' Sign up to This Week in Trumpland A deep dive into the policies, controversies and oddities surrounding the Trump administration after newsletter promotion More than 70,000 Afghans were granted permission to enter the US under Joe Biden's 'Operation Allies Welcome' initiative, which followed the bungled US exit and subsequent Taliban takeover in 2021. Some, like Zia, have a SIV and pathway to permanent residency, while about 12,000 or so have temporary protected status (TPS) – a type of work visa granted to people already in the US who cannot return to their home countries due to armed conflicts, natural disasters or other extraordinary events. The Trump administration is seeking to terminate TPS status for multiple countries including Venezuela, Haiti and Afghanistan – despite ongoing unstable and dangerous conditions in those countries.
Reuters
an hour ago
- Reuters
Mainland China capital surge fuelling Hong Kong investment boom
HONG KONG, July 24 (Reuters) - Surging investment into Hong Kong by mainland Chinese investors is increasing market liquidity and depth while strengthening the island's position as a gateway to China. Short-term headwinds could slow this capital flood, but market innovation and the push for diversification are likely to propel this trend over time. The Stock Connect programme, launched by the Hong Kong, Shanghai and Shenzhen exchanges in November 2014, enabled mainland Chinese investors to trade selected stocks listed in Hong Kong – the so-called "Southbound Stock Connect" – while also facilitating flows in the opposite direction. The Connect programme was expanded between 2017 and 2023 to include bonds, ETFs and interest rate swaps. Since 2015, the first full year of the programme's operation, onshore trades through the Southbound route have grown at an impressive 32% compound annual growth rate. In fact, Southbound's share of average daily turnover grew from 1.6% in 2015 to 18% in 2024, according to data from the Hong Kong Exchange (HKE). Onshore investors have consistently bought more through Southbound than they have sold, resulting in net inflows every year since the programme began. The flows were healthy but somewhat volatile until 2023, after which they skyrocketed. Net inflows more than doubled in 2024, and that figure has been nearly matched in just the first six months of 2025. What explains this appetite for Hong Kong-listed stocks? Geographic diversification is clearly a strong motive, as mainland Chinese investors have limited avenues for owning overseas assets. Investors may also seek to gain exposure to companies in key sectors that are under-represented in domestic markets, such as technology or insurance. For example, leading Chinese internet platforms Tencent and Alibaba, insurance market leader AIA and global bank HSBC are not listed on onshore indices. However, many of stocks popular among mainland investors are listed both onshore and in Hong Kong, again raising the question of why capital is increasingly flooding into the latter. The answer may simply be price. Many of these dual-listed stocks trade at far cheaper valuations in Hong Kong than in Shanghai or Shenzhen. The average premium of onshore "A-shares", tracked by the Hang Seng AH Premium Index, was only 3.2% prior to the commencement of the Stock Connect programme. This figure jumped to 34.1% soon after, as international money flowed into mainland Chinese equities through Northbound Connect, inflating valuations. The premium remains elevated, though it has declined recently. The influx of capital has increased the Hong Kong equity market's liquidity and depth, making it increasingly attractive for local companies seeking new listings and for onshore Chinese companies seeking additional listings. Indeed, in the first half of 2025, Hong Kong has been the world's largest IPO market, with $14 billion of issuance, easily outstripping Nasdaq, which was in second place with just over $9 billion. At the same time, the Stock Connect programme has also strengthened Hong Kong's position as an offshore renminbi hub, as the HKE has argued, opens new tab, and driven robust cross-border regulatory cooperation, involving regular meetings and exchange of ideas. The flip side of the onshore money avalanche could be increased volatility in Hong Kong markets, especially given that the trading style of mainland Chinese investors has historically been characterised by rapid transition from one sector or theme, to another. For example, onshore investors flocked to the internet platforms Alibaba and Tencent, and technology giant Xiaomi, throughout 2024 and early 2025, only to sell significant volumes this past May and June. It is also possible that some common preferences among onshore Chinese investors, such as the attraction to high dividend yields, could begin to affect the relative performance of stocks in Hong Kong. CNOOC, China Construction Bank and China Mobile – all characterised by low growth but high dividends – have remained Southbound favourites this year, based on monthly "Top 10" lists. What could derail this exuberance? The potential weakening of the renminbi could be one headwind, as it would make HKD-denominated stocks more expensive for mainlanders. Additionally, improved performance among mainland markets could also discourage Chinese investors from overseas diversification. In 2025 so far, Hong Kong's Hang Seng index is up 23.8%, dwarfing the Shanghai Composite's 5.5% gain. A reversal of return prospects could obviously reverse the direction of flows. Finally, U.S.-China geopolitical tensions are a perennial bugbear. Hong Kong permits money to be moved in and out of the city without many restrictions, which exposes it to risks from such political conflicts. Any adverse political outcome could make Chinese investors more inclined to keep their capital onshore. However, most of these potential headwinds are likely short-term phenomena, and ultimately, the long-term direction of travel is clear. Mainland Chinese savings represent a gigantic pool of still mostly untapped capital. Total deposits at the end of June 2025 were RMB 320 trillion ($44 trillion), according to PBOC reports, opens new tab. And total overseas portfolio investments in March 2025 were only $1.58 t, opens new tabrillion, less than 4% of households' domestic deposits. The need for greater diversification among mainland Chinese investors thus remains significant, meaning the surge of capital into Hong Kong markets may just be getting started. (The views expressed here are those of Manishi Raychaudhuri, the founder and CEO of Emmer Capital Partners Ltd. and the former head of Asia-Pacific Equity Research at BNP Paribas Securities.) Enjoying this column? Check out Reuters Open Interest (ROI),, opens new tab your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI,, opens new tab can help you keep up. Follow ROI on LinkedIn,, opens new tab and X., opens new tab
Reuters
an hour ago
- Reuters
Instant View: Tesla says it started building initial versions of an affordable car, posts a steep sales decline
WASHINGTON, July 23 (Reuters) - Tesla(TSLA.O), opens new tab said on Wednesday it has built initial versions of an affordable car, a move likely meant to stem the steep decline in sales the company has experienced in markets across the world. Elon Musk's electric vehicle maker posted the worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, but its profit margin on making cars was better than many feared. MARKET REACTION: Tesla shares were down nearly 5% in after-hours trading. COMMENTS: JACOB BOURNE, ANALYST, EMARKETER, NEW YORK: "Tesla's disappointing results aren't surprising given the rocky road it's traveled recently. But the company maintains a strong foundation in the key growth sectors of energy storage, robotics, and AI-powered transportation. While traditional automakers like GM are gaining EV market share, we can expect that Tesla will continue pushing the needle on innovation if it can get a better handle on its current leadership distractions. Key challenges that will linger are supply chain risks related to its reliance on China and fierce competition from Chinese EV makers in that market. Tesla doesn't need to choose between cars and future tech. There are technical synergies between EVs, robotaxis, energy systems, and robotics that could accelerate innovation across all fronts. The question is whether leadership can execute on this integrated vision in this fast-moving market." ANDREW ROCCO, STOCK STRATEGIST, ZACKS INVESTMENT RESEARCH, CHICAGO: "Tesla delivered earnings Wednesday night that fell short of top-and-bottom line expectations slightly. Despite the earnings miss, Tesla shares were buoyed early by the fact that the bleeding in gross margins has seemingly come to a halt, with gross margins coming in at 17.2% versus Wall Street estimates of 16.5%. The gross margin beat is especially impressive when investors consider that Tesla has been offering generous incentives and lower prices to its consumers. Coming in to the report, Wall Street expectations were dire amid a slowing core EV business and CEO Elon Musk's reputational damage on both sides of the political aisle. Nevertheless, Tesla has limped over the low bar that was a dramatic earnings miss and delivered earnings that were better than most feared. Additionally, news broke right before the market closed that Tesla is in "early talks" with the state of Nevada to expand its robotaxi service. If Tesla can convince investors that it will scale its robotaxi service rapidly, shareholders will be more forgiving regarding the core EV business, as Musk and his team look to expand into new verticals, transitioning and diversifying the business." THOMAS MONTEIRO, SENIOR ANALYST, "Although still far from what fundamentals would suggest for a trillion-dollar company, Tesla's latest numbers do spark some optimism, indicating that the worst is likely behind it—at least in terms of the core auto business. Given the plethora of headwinds faced during the difficult Q2 - both internally and on the macro front - margin deterioration appears to have come in at the lower end of the curve. When combined with improving cyclical demand dynamics in markets like China and parts of the US, this suggests that full-year results might not be as dire as previously expected following the disastrous first half of the year. This also shows that the company has weathered the tariff storm somewhat better than initially projected, optimizing the production/delivery equation in the US. While it remains unclear how much of a hit regulatory credits will take in Q3, it's evident the company will need to continue refining its production strategy elsewhere to better navigate the second half. From this perspective, recent product announcements are aligned with those strategic needs—particularly around the highly anticipated Model 2. With Tesla entering the Indian market and working to regain ground in China, we view this as a potential game-changer for H2. All things considered—and while we're still a ways off from seeing true fundamental support for the current share price—the outlook for the core business is looking somewhat better. This could continue to support Tesla's long-term transition into a fully AI/robotics-driven company, which appears to be where Musk is placing his bets."
