It remains to be seen whether "the next phase of Chinese investment in the country (Argentina)" is directed towards the manufacturing industry, and not just infrastructure or the oil sector, he said.

An indication of what direction China's trade cooperation with Argentina might take came a few days ago, when its ambassador in Buenos Aires, Yang Wanming, addressed a seminar on bilateral ties organized by the Political, Economic and Social Studies Foundation for the New Argentina (FEPESNA).

"The three engines of trade, investment and finance have been turned on simultaneously and each reinforces the other, promoting the firm and steady development of practical cooperation, accompanied by an improvement in quantity, quality, diversity and balance," said Yang.

The two countries are "diversifying their trade products (and) optimizing the trade structure even more," said Yang, adding "today, developing bilateral ties face important opportunities."