China’s State Council approved renewal of a bilateral local‑currency swap
between the People’s Bank of China and the Central Bank of Egypt, expanding the
facility from CNY18 bln/EGP80.7 bln to CNY30 bln/EGP203 bln. The agreement is
for three years and may be extended by mutual consent; officials said the
expansion aims to deepen monetary‑financial cooperation, increase use of local
currencies in bilateral trade and investment, and support financial‑market
stability.
