  Qubit initialization is a critical task in quantum computation and
communication. Extensive efforts have been made to achieve this with high
speed, efficiency and scalability. However, previous approaches have either
been measurement-based and required fast feedback, suffered from crosstalk or
required sophisticated calibration. Here, we report a fast and high-fidelity
reset scheme, avoiding the issues above without any additional chip
architecture. By modulating the flux through a transmon qubit, we realize a
swap between the qubit and its readout resonator that suppresses the excited
state population to 0.08% $\pm$ 0.08% within 34 ns (284 ns if photon depletion
of the resonator is required). Furthermore, our approach (i) can achieve
effective second excited state depletion, (ii) has negligible effects on
neighbouring qubits, and (iii) offers a way to entangle the qubit with an
itinerant single photon, useful in quantum communication applications.
