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 facilitating cross-border fund management and usage [1][2]. Group 1: Policy Framework - The new policy framework for the integrated currency pool business encourages enterprises to conduct operations in local currency and establishes a unified management system for both domestic and foreign currency funds [2]. - Local branches of the State Administration of Foreign Exchange will serve as a "one-stop" window for enterprises to handle registration and filing for the currency pool business, thereby reducing operational costs for companies [2]. Group 2: Cross-Border Fund Management - The policy allows for the establishment of external debt and overseas loan concentration limits linked to the equity of member enterprises within the currency pool, enabling efficient and autonomous fund allocation for multinational companies [2]. - The initiative aims to streamline the cross-border collection and transfer of funds for multinational corporations [2]. Group 3: Supervision and Management - The new regulations outline the norms for multinational companies and cooperating banks in managing the currency pool business, emphasizing the need for enhanced statistical monitoring and both non-site and on-site inspections by local branches of the People's Bank of China and the State Administration of Foreign Exchange [2]. - The currency pool business has undergone several upgrades since its initial pilot in 2021, with the scope gradually expanding to include more regions such as Shanghai, Guangdong, Zhejiang, and Shaanxi [2].