China and Oman Sign $4.2B Yuan Swap and Digital Currency Deal

China and Oman signed a five-year currency swap agreement alongside a memorandum covering central bank digital currencies and cross-border payments. The agreement extends Beijing’s network of Gulf financial partnerships, including existing arrangements with Saudi Arabia and the UAE. Its commercial impact will depend on banks’ ability to offer competitive yuan financing, currency conversion and settlement services. China and Oman signed a RMB 30 billion ($4.2 billion) currency swap agreement on November 2 , 2026, alongside a digital currency partnership that could expand the yuan’s role in Gulf trade.