周亮等：跨境资金池政策再升级，企业融资将更便利

Core Viewpoint - The new regulations for cross-border cash pooling in China aim to enhance the management of both domestic and foreign currency funds for multinational companies, expanding the applicability to more medium-sized enterprises while improving risk monitoring and regulatory oversight [2][3]. Summary of Key Changes and Main Content - The new regulations establish a unified framework for managing cross-border cash pools, eliminating the dual management of RMB and foreign currency pools, thus reducing compliance costs and improving fund utilization efficiency [3][4]. - The regulations simplify the business process and enhance real-time supervision, shifting the approval authority from provincial branches to local branches, which streamlines operations for enterprises [4][8]. - The new rules lower the entry threshold for medium-sized enterprises, allowing them to participate in cross-border cash pooling, which was previously limited to larger corporations [5][6]. Core Impact and Practical Outlook - The new regulations present significant opportunities for medium-sized enterprises by lowering the requirements for participation in cash pooling, enabling them to integrate cross-border fund management into their financial strategies [5][6]. - The transition from old to new regulations is clearly outlined, encouraging enterprises to align with the new standards and collaborate with banks to prepare necessary documentation [7][8]. - The regulations impose stricter internal monitoring requirements on enterprises and external monitoring responsibilities on banks, enhancing the overall risk management framework [9]. Conclusion - The introduction of the cash pooling regulations signifies a shift towards a more integrated management framework for cross-border funds in China, providing institutional opportunities for efficient fund operations for a broader range of enterprises [10][14].