稳步推进本外币一体化资金池试点

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have jointly drafted a notification to promote the pilot of integrated cross-border fund pools for multinational companies, aiming to facilitate the use of cross-border funds and enhance trade and investment convenience [1]. Group 1: High and Low Version Fund Pools - The high-version fund pool primarily serves large multinational companies, characterized by higher thresholds, larger fund transfer limits, and greater convenience [2]. - The pilot for the high-version fund pool began in March 2021 in Beijing and Shenzhen, expanding to 10 regions by the end of 2024 [2]. - The low-version fund pool has a lower threshold, allowing more companies to participate, but with lower fund transfer limits and convenience to mitigate cross-border fund flow risks [2]. Group 2: Policy Framework and Management Requirements - The notification aims to establish a unified policy framework for the integrated fund pool, promoting the low-version fund pool policy nationwide [3]. - It specifies management requirements for cross-border fund flows, implementing a dual macro-prudential management approach based on the equity of fund pool member companies [3]. - The notification simplifies business processing and strengthens regulatory oversight, allowing local foreign exchange management bureaus to handle applications and reducing the complexity of the approval process [3].