The People's Bank of China renewed its bilateral local currency swap agreement with the Bank of Canada, setting the swap size at CNY 200 billion and the term at five years. The renewal was approved by the State Council and can be extended by mutual agreement. The arrangement is intended to strengthen financial cooperation, expand the use of local currencies in China–Canada transactions, support bilateral trade and investment facilitation, and help maintain financial stability.
Central Bank of the Republic of China2026-01-16
People's Bank of China renews Bank of Canada local currency swap line at CNY 200 billion for five years
The People's Bank of China renewed its bilateral local currency swap agreement with the Bank of Canada, setting the swap size at CNY 200 billion for a five-year term to enhance financial cooperation and support bilateral trade.