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

The People's Bank of China announced that, with the approval of the State Council, the People's Bank of China has recently renewed a bilateral currency swap agreement with the Bank of Canada. The swap volume is 200 billion RMB, and the agreement is valid for five years, with the possibility of extension upon mutual agreement. The renewal of the bilateral currency swap agreement between China and Canada will help strengthen financial cooperation between the two countries, expand the use of local currencies between China and Canada, promote trade facilitation and investment between the two countries, and maintain financial stability.