跨国公司本外币一体化资金池业务全国铺开！三大利好→

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 immediately, building on previous pilot experiences [1][3]. Group 1: Overview of the Integrated Currency Pool Business - The integrated currency pool business allows multinational companies to manage both domestic and foreign currency funds centrally, facilitating fund collection and allocation based on operational needs [3]. - Since the pilot program began in 2021 in Beijing and Shenzhen, the scope and content of the business have been expanded multiple times [3]. Group 2: Benefits of Nationwide Implementation - The transition from "local pilot" to "full coverage" offers three main advantages: 1. It leverages the scale effect of centralized funds, allowing companies to manage domestic and foreign currency funds of their subsidiaries in a unified manner [5]. 2. It significantly reduces financial costs and enhances fund utilization efficiency [5]. 3. It simplifies business procedures by shifting more operations from pre-approval to management during and after the process, thereby lowering institutional transaction costs [5]. Group 3: Impact on Multinational Companies - The policy enhances the autonomy and flexibility of cross-border fund allocation for enterprises, contributing to a unified, predictable, and transparent regulatory environment, which boosts multinational companies' confidence in China's cross-border financial management system [7]. - By centralizing management and unified scheduling, corporate groups can reduce idle funds, improve overall fund turnover rates, and enhance responsiveness to market changes [9]. - The policy also aids companies in building a global treasury management system, improving cross-border fund allocation and risk management capabilities, thereby enhancing international competitiveness [9]. Group 4: Requirements for Participation - The notification specifies that multinational companies wishing to engage in the currency pool business must meet nine criteria, including having genuine business needs and a robust cross-border fund management framework [11]. - As of the end of September, 98 multinational companies and over 5,000 of their domestic and foreign subsidiaries have participated in the pilot program, with a cross-border payment scale of approximately $150 billion in the first nine months of this year [11].