Bank Negara Malaysia and the People’s Bank of China have renewed the bilateral currency swap arrangement for a term of five years, effective from 2026 to 2031, with the size expanded to RMB220 billion/MYR130 billion (previously RMB180 billion/MYR110 billion). The agreement was first established in 2009 and renewed in 2012, 2015, 2018 and 2021.

The renewal and expansion of the arrangement reaffirm the long-standing cooperation between both central banks.

The arrangement facilitates the use of local currencies for the settlement of bilateral trade and investment between Malaysia and China, strengthens economic and financial linkages, and contributes to the resilience of regional financial stability.