Approved by the State Council, the People's Bank of China (PBOC) and the Reserve Bank of New Zealand (RBNZ) recently renewed the bilateral local currency swap agreement. The size of the agreement is RMB25 billion. The agreement is valid for five years and can be renewed upon mutual consent.
The renewal of the bilateral local currency swap agreement will help further deepen monetary and financial cooperation between China and New Zealand, promote the facilitation of bilateral trade and investment, and maintain the stability of financial markets.
Date of last update
Nov. 29 2018
