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China Oman $4.5B Swap Deal
The governors of the Chinese and Omani central banks signed a five-year currency swap agreement worth 30 billion yuan, equivalent to approximately $4.5 billion or 1.5 billion Omani rials, during Sultan Haitham bin Tarik’s visit to Beijing. The Sultan and Chinese President Xi Jinping witnessed the signing of the agreement, along with 14 memorandums of understanding and a cooperation protocol covering investment, science and technology, and artificial intelligence. The Sultan said Chinese companies had invested more than 33 billion yuan in Oman over the past few years, while Xi said that deepening relations was a shared strategic choice.
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