China, Oman Sign Five-Year, 30 Billion Yuan Currency Swap

China and Oman signed a five-year, 30 billion yuan currency swap alongside a digital-currency pact designed to deepen financial ties and expand cross-border payment cooperation.

People's Bank of China Governor Pan Gongsheng and Central Bank of Oman Governor Ahmed Al Musalmi signed the two documents in a ceremony witnessed by the leaders of both countries. The swap's stated value is 30 billion yuan, or 1.5 billion Omani rial, and its term is five years.

The digital cooperation memorandum addresses payment services across borders and central bank digital currencies. The package is intended to deepen monetary and financial ties between the two countries, make cross-border digital payments more convenient and help maintain financial-market stability.

Pan and Al Musalmi also met on the signing day to discuss bilateral economic and financial cooperation. Together, the documents cover a yuan-rial currency swap and digital-payment and central-bank digital-currency cooperation.