ABC News reported that credit card transactions with China Unionpay would be available across the state under the agreement, signed by Premier Morris Lemma on a trip to China.
According to Tourism Minister Matt Brown, the deal would make banking faster and more convenient for Chinese tourists and boosting tourist numbers.
“In fact, Chinese visitors are going to increase by 60 per cent over the next four years.
“What this really means is that Chinese travellers now coming to Sydney have greater access to funds that are back home,” he said.
“This is only going to encourage more Chinese access to cash and cash getting spent in our local economy.”