本外币一体化资金池，将全国推广

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, aimed at enhancing cross-border fund management efficiency and reducing operational costs [2][6]. Group 1: Policy Implementation - The integrated currency pool policy will unify the management of domestic and foreign currency funds, allowing for centralized fund allocation and improved financial management [1][3]. - The policy framework encourages enterprises to conduct currency pool operations in local currency and establishes a "one-window" system for business registration and documentation to reduce operational costs [3][4]. - The policy aims to facilitate cross-border fund collection and transfer by linking external debt and overseas loan limits to the equity of pool member enterprises [3][4]. Group 2: Benefits and Impact - The integrated currency pool is expected to significantly reduce fund wastage and enhance fund utilization efficiency for multinational companies, as evidenced by a reported cross-border payment scale of $150 billion in the first nine months of the year [2][5]. - Companies like CATL have successfully implemented the policy, integrating multiple funding sources and achieving over $3 billion in cross-border fund transfers within six months of operation [5][6]. - The policy is anticipated to lower operational costs by minimizing the need for multiple fund pools and accounts, thus reducing management fees and currency exchange costs [5][6]. Group 3: Future Outlook - The nationwide rollout of the integrated currency pool policy is seen as a significant step in financial supply-side structural reform, aimed at supporting high-quality economic development [6][7]. - The People's Bank of China and the State Administration of Foreign Exchange plan to enhance guidance and communication regarding the policy to ensure that enterprises can fully leverage its benefits [7].