China and New Zealand renew currency swap facility

It is valid for 5 years and has been renewed three times before.

China and New Zealand have renewed their reciprocal currency arrangement or swap line.

The size of the swap facility is $3.49b (RMB25b) and has a five-year maturity that can be extended if both parties agree, announced the Reserve Bank of New Zealand (RBNZ) in an online statement.

The arrangement was first agreed upon in 2011, and has been renewed three times prior in 2014, 2017, and 2020.

The aim of the swap line is to help promote bilateral trade and economic development between the two countries while also supporting financial stability, the RBNZ said.

(US$1 = RMB7.15; as of 28 August 2025, from Morningstar via Google)