The central banks of China and Singapore renew the bilateral currency swap agreement.

Recently, with the approval of the State Council, the People's Bank of China and the Reserve Bank of New Zealand have renewed their bilateral currency swap agreement, with a swap scale of 25 billion yuan. The agreement is valid for five years and can be extended by mutual agreement. The renewed bilateral currency swap agreement between the two parties will further deepen monetary and financial cooperation between the two countries, promote facilitation of bilateral trade and investment, and maintain stability in the financial markets.