China expands cross-border cash pooling for multinationals nationwide, first deals land in multiple regions
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On September 16, Cailian Press reported that China's cross-border cash pooling policy for multinational corporations has been expanded nationwide. The 'Notice on Matters Concerning Centralized Cross-Border Fund Operations in Both Renminbi and Foreign Currencies by Multinational Corporations,' jointly issued by the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE), took effect on September 14. This marks the shift from pilot regions to nationwide implementation. Reporters found that first-batch cases have been launched in Tianjin, Zhejiang, Fujian, Shandong, Chongqing, and other regions, accelerating cross-border capital inflows to support global corporate deployment. Since September, multiple regions have also initiated or optimized pilots for integrated RMB-foreign currency cash pooling services, signaling further facilitation of cross-border fund management. The report is attributed to Shanghai Securities News.
Source report
September 16 (Cailian Press) — Cross-border fund management for multinational corporations has entered a new phase of facilitation.
The Notice on Matters Concerning Centralized Cross-Border Fund Operations in Both Renminbi and Foreign Currencies by Multinational Corporations, jointly issued by the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE), took effect on September 14. This marks the expansion of centralized cross-border fund operations in both RMB and foreign currencies from pilot regions to nationwide implementation.
According to a review by reporters, since the policy's implementation, first-batch cases have been successively launched in multiple regions, including:
- Tianjin
- Zhejiang
- Fujian
- Shandong
- Chongqing
These developments are accelerating the inflow of cross-border capital "living water" to support enterprises' global deployment.
Meanwhile, since September, several regions have initiated or optimized pilots for integrated RMB-foreign currency cash pooling services, continuously signaling greater facilitation in cross-border fund management.
(Source: Shanghai Securities News)
Source
财联社Eastern
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