互换资金规模1900亿元，中巴续签！

Core Viewpoint - The signing of the bilateral currency swap agreement between the People's Bank of China and the Central Bank of Brazil aims to enhance trade relations and promote the use of the Renminbi in Brazil and Latin America, amidst increasing economic cooperation between the two countries [1][3]. Group 1: Bilateral Currency Swap Agreement - The new bilateral currency swap agreement has a scale of 190 billion Renminbi (RMB) / 157 billion Brazilian Reais (BRL) and is valid for five years, with the possibility of extension [1]. - This agreement is a continuation of the first currency swap signed in 2013, which also had a scale of 190 billion RMB [3]. Group 2: Importance of the Agreement - The agreement is significant for deepening trade ties, as China has been Brazil's largest trading partner for 15 consecutive years, and Brazil is China's largest trading partner in Latin America [3]. - The currency swap is part of a global financial safety net, especially in the context of rising trade tensions, and is expected to enhance market confidence and maintain regional and global financial stability [3]. Group 3: China's Currency Swap Agreements - As of the first quarter of 2025, the People's Bank of China has signed bilateral currency swap agreements with 42 countries and regions, with 32 agreements currently in effect [4]. - The total scale of these agreements amounts to 4.3 trillion RMB, reflecting China's commitment to maintaining global financial stability and supporting bilateral trade and investment [4].