The People's Bank of China and the Monetary Authority of Macau signed a standing swap agreement and expanded the scale.

Approved by the State Council, the People's Bank of China and the Monetary Authority of Macao recently renewed the bilateral currency swap agreement and upgraded it to a standing swap arrangement, which will be effective for a long period of time. The swap amount has been increased from the original 30 billion RMB/34 billion Macau patacas to 50 billion RMB/57 billion Macau patacas, in order to further maintain financial stability in both regions, better support bilateral economic and trade exchanges, and promote the stable development of the offshore Renminbi market in Macao.