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Chinese President Xi Jinping continues his official state visit of Latin America with a second day in Argentina. The visit has served to improve strategic ties between the two nations, with China agreeing to invest in important infrastructure¹ work in the South American country, while raising the importance of ties there.

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Chinese President Xi Jinping (L) shakes hands with Argentine President Cristina Fernandez de Kirchner during a welcoming ceremony before their talks in Buenos Aires, Argentina, July 18, 2014. Xi and his Argentine counterpart, Cristina Fernandez de Kirchner, agreed here Friday to upgrade bilateral ties to a comprehensive strategic partnership. (Xinhua/Li Xueren)

Chinese President Xi Jinping (L) shakes hands with Argentine President Cristina Fernandez de Kirchner during a welcoming ceremony before their talks in Buenos Aires, Argentina, July 18, 2014. Xi and his Argentine counterpart, Cristina Fernandez de Kirchner, agreed here Friday to upgrade bilateral ties to a comprehensive strategic partnership. (Xinhua/Li Xueren)

After business, the protocol⁴ On day two of the official state visit to Argentina, Chinese President Xi Jinping visited the memorial to Argentina Independence leader, Jos San Mart, before meeting vice-president Amado Boudou and other Congress leaders.

But this visit will be remembered for historic agreements with Argentina signed on Friday -mulit-billion dollar investments for the construction of two hydroelectric dams in Patagonia and to revamp freight railways, but also an $11 billion currency swap⁵ agreement.

"These projects are priority for the substantial cooperation between China and Argentina and we hope that the companies in our countries can collaborate⁶ and work together, strengthening cooperative ties so as to accelerate the implementation⁷ process to finalize⁸ the projects as soon as possible so that they may be exemplary models for the mutually beneficial cooperation between China and Argentina," Xi Jinping said.

This official state visit does not only enable the two governments to formalize agreements but also allow business leaders to cement ties as well.

Behind the scenes, a meet and greet on Saturday morning. Representatives of 160 high-level Chinese companies from mining, energy, construction, and finance met with 400 Argentine business leaders.

"One of the most important things is the decision by the Chinese to elevate the status of the relationship with Argentina to comprehensive strategic partners. Until now in Latin America, only Brazil had been the comprehensive strategic partner, now we are too and I think the future of the relationship in economic, political and commercial terms is promising," Ernesto Fernandez Taboada, Director fo Argentine-Chinese Chamber⁹ said.

10 years ago her late husband Ntor Kirchner agreed to a special alliance with former President Hu Jintao. Cristina Fernandez de Kirchner and Xi Jinping have now taken that alliance between China and Argentina one step further.

Chinese President Xi Jinping (L) shakes hands with Argentine President Cristina Fernandez de Kirchner during a welcoming ceremony before their talks in Buenos Aires, Argentina, July 18, 2014. Xi and his Argentine counterpart, Cristina Fernandez de Kirchner, agreed here Friday to upgrade bilateral ties to a comprehensive strategic partnership. (Xinhua/Li Xueren)

joint¹⁰ press conference with Argentine President Cristina Fernandez de Kirchner after their talks in Buenos Aires, Argentina, July 18, 2014. Xi and his Argentine counterpart, Cristina Fernandez de Kirchner, agreed here Friday to upgrade bilateral ties to a comprehensive strategic partnership. (Xinhua/Liu Weibing)" style="margin: 0px; padding: 0px; border: 0px none;" />

Chinese President Xi Jinping (L) attends a joint press conference with Argentine President Cristina Fernandez de Kirchner after their talks in Buenos Aires, Argentina, July 18, 2014. Xi and his Argentine counterpart, Cristina Fernandez de Kirchner, agreed here Friday to upgrade bilateral ties to a comprehensive strategic partnership. (Xinhua/Liu Weibing)