跨国公司迎政策利好！央行、外汇局联合发文→

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have announced the nationwide promotion of the integrated currency pool business for multinational companies, effective from December 26, 2025, to enhance high-level opening-up and streamline cross-border fund management [1][2]. Group 1: Policy Highlights - The policy focuses on three main aspects: integrating account systems, simplifying business processes, and strengthening overall management [1]. - It allows multinational companies to centrally manage both domestic and foreign currency funds, enabling unified scheduling and utilization of funds [1]. - The policy permits flexible adjustment of foreign debt and overseas lending limits, allowing companies to borrow up to 3.5 times and 0.8 times their equity in the fund pool [1]. - Multinational companies can conduct centralized collection and payment of current account funds through the main enterprise based on operational needs [2]. - The policy aims to simplify business procedures by shifting more operations from pre-approval to post-management, thereby reducing institutional transaction costs for enterprises [2]. Group 2: Future Directions - The People's Bank of China and the State Administration of Foreign Exchange will continue to optimize cross-border fund management policies to enhance the convenience of cross-border trade and investment [2]. - The initiative is part of a broader effort to support financial services for high-quality development of the real economy [2].