The central banks of China and Algeria have renewed their bilateral currency swap agreement.

Recently, with the approval of the State Council, the People's Bank of China and the Central Bank of Argentina have renewed their bilateral local currency swap agreement, with a swap scale of 130 billion yuan / 280 trillion Argentine pesos. The agreement is valid for five years and can be extended upon mutual agreement. The renewal of the China-Argentina bilateral local currency swap agreement will further deepen financial cooperation between the two countries, promote bilateral economic and trade exchanges, and maintain stability in the financial markets.