On August 19th, it was learned from the People's Bank of China that the People's Bank of China and the Reserve Bank of Australia have recently renewed their bilateral currency swap agreement, expanding the swap scale from the original 200 billion yuan/41 billion Australian dollars to 220 billion yuan/46 billion Australian dollars. The agreement is valid for five years and can be extended upon mutual agreement.

The People's Bank of China stated that renewing the bilateral currency swap agreement and expanding its scale will help further deepen monetary and financial cooperation between the two countries, promote bilateral trade and investment facilitation, and maintain financial market stability.