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China is "resolutely opposed" to the unauthorized entry, and has lodged "solemn representations" to the US, according to Foreign Ministry spokeswoman Hua Chunying.

China is a dynamic market and Chinese banks are highly efficient in embracing innovative solutions to remove frictions in the cross-border payments. This is clearly visible from the adoption rate of SWIFT's global payments innovation program, or gpi, in China, which is the highest among all countries on the SWIFT network, said Haddad.

China has the highest proportion of digital wallet users in the world, according to analysis from UK payment company Merchant Machine. Alipay and its rivals --Tencent’sWeChat Pay and UnionPay’sQuickPass --are all vying to provide the go-to mobile payment platform for Chinese travelers.

China is to further open up its financial sector in an orderly and independent way, especially in banking, securities, funds and futures, while maintaining financial stability, Premier Li Keqiang said on Tuesday.

China is also Argentina's second-biggest trade partner, after Brazil, with bilateral exchanges of about .8 billion in 2017, according to China's customs agency.