低版本资金池政策拟推广至全国

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have jointly drafted a notice to solicit public opinions on the management regulations for cross-border centralized operation of funds for multinational corporations, aiming to facilitate cross-border fund utilization and promote trade and investment [1] Group 1: High and Low Version Fund Pools - The high version fund pool primarily serves large multinational corporations with higher thresholds, larger fund transfer limits, and greater convenience, having been piloted in Beijing and Shenzhen since March 2021 and expanded to 10 regions by the end of 2024 [2] - The low version fund pool has a lower threshold, allowing more companies to participate, with reduced fund transfer limits and convenience to mitigate cross-border fund flow risks, piloted in Beijing and Guangdong since May 2023 [2] Group 2: Policy Framework and Management - The draft proposes to promote the relatively mature low version fund pool policy nationwide, establishing a unified management framework for cross-border fund pools, facilitating the transition from existing pools to the low version [2] - The management of cross-border fund flows will be based on the equity of fund pool member enterprises, implementing dual macro-prudential management for cross-border fund flows, with adjustments made as necessary for counter-cyclical management [3] Group 3: Simplification and Supervision - The low version fund pool will have a unified "one-window" approach for business processing, simplifying the application and approval processes, and delegating certain business approvals to banks [3] - Local foreign exchange management bureaus and the People's Bank of China are required to fulfill their regulatory responsibilities, enhancing statistical monitoring and risk assessment to effectively prevent cross-border fund flow risks [3]