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China and Oman Sign Comprehensive Agreement and Central Bank Currency Swap

Oman and China signed a comprehensive agreement and 14 memoranda of understanding in Beijing, including a formal bilateral currency swap mechanism. The agreements target cooperation in green development, digital currency, securities regulation, and space technology. Chinese direct investment in Oman has reached over 33 billion yuan ($4.6 billion).

Published Source: GCC Business News
Issuing authority
People's Bank of China, Central Bank of Oman
Jurisdiction
China, Oman
Publication date
November 2, 2026
Stage
Final rule
Official document
Comprehensive agreement and 14 memoranda of understanding
Photo: GCC Business News

Oman and China entered into a comprehensive agreement alongside 14 memoranda of understanding on November 2, 2026, aimed at deepening bilateral cooperation across key industries. The agreements were witnessed in Beijing by Sultan Haitham bin Tariq and Chinese President Xi Jinping during the first official state visit by an Omani ruler to China in 48 years, GCC Business News reported.

A key element of the pacts includes a formal currency swap mechanism established between the Central Bank of Oman and the People's Bank of China. The accompanying agreements also cover digital currency and securities regulation.

Additional areas formalized under the memoranda include investment cooperation in green development, science and innovation, and space technology. Total direct investments by Chinese enterprises in Oman have surpassed 33 billion yuan ($4.6 billion), consolidating China's position as Oman's premier trade partner.

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