China and Qatar renew bilateral local currency swap agreement
People's Bank of China (PBoC) Governor Pan Gongsheng and Qatar Central Bank Governor Sheikh Bandar bin Mohammed bin Saoud Al-Thani renewed their bilateral local currency swap agreement in Bangkok on October 14, 2026.
Local currencies anchor closer ties
Pan attended the fourth China-Gulf Cooperation Council (GCC) Central Bank Governors' Meeting in Bangkok, Thailand, on October 14, 2026.
Participants discussed investment, cross-border payments and closer cooperation between the PBoC and GCC central banks.
They agreed to advance local currency cooperation, deepen cross-border payment cooperation and expand two-way investment.
They also committed to strengthening financial market infrastructure connectivity and coordination on international economic and financial affairs.
Governors cited close economic, trade and financial ties and a complex, evolving global environment as reasons to strengthen cooperation.
Pan renewed the Qatar swap agreement during a bilateral meeting.
Bilateral talks span three countries
Pan met separately with Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates; Sheikh Bandar bin Mohammed bin Saoud Al-Thani, Governor of Qatar Central Bank; Sultan bin Salem Al Habsi, Oman's Minister of Finance; and Ahmed Al Musalmi, Governor of the Central Bank of Oman.
They exchanged views on bilateral financial cooperation and other issues of mutual interest.
Deputy Governor Xuan Changneng attended these meetings, which took place on the sidelines of the China-GCC gathering in Bangkok.
Renewal without disclosed terms
The Qatar swap renewal is the concrete agreement reported alongside broader cooperation commitments.
The release gives no swap amount, maturity or implementation timetable.
It therefore records renewed cooperation but does not quantify the agreement's financial scope.