二是明确相关跨境资金流动管理要求。在跨境资金流动管理上，《通知》基于资金池成员企业所有 者权益，分别设置外债和境外放款集中管理公式，对资金池相关跨境资金流动实行双向宏观审慎管理， 必要时可通过调节有关参数实现跨境资金流动逆周期管理。 近日，为稳步推进本外币一体化资金池试点，更好便利企业跨境资金统筹使用，发挥跨境业务服务 实体经济、促进贸易投资便利化的作用，中国人民银行、国家外汇管理局共同起草了《关于印发〈跨国 公司本外币跨境资金集中运营管理规定〉的通知（征求意见稿）》（以下简称《通知》），并向社会公 开征求意见。 《金融时报》记者了解到，为便利跨国公司集团利用境内外两个市场、两种资源，中国人民银行、 国家外汇管理局分别出台人民币、外汇跨境资金池业务相关政策。2021年以来，为更好支持企业用好资 金池政策，中国人民银行、国家外汇管理局积极探索资金池政策合并方案，推动跨国公司本外币一体化 资金池、跨境资金集中运营（以下分别简称"高版本资金池""低版本资金池"）两个版本的本外币一体化 资金池试点。 三是简化业务办理流程，强化事中事后监管。低版本资金池由各地国家外汇管理局"一个窗口"对 外，统一接受企业备案、变更申请 ...

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have jointly drafted a notice to solicit public opinions on the management regulations for cross-border centralized operation of funds for multinational corporations, aiming to facilitate cross-border fund utilization and promote trade and investment [1] Group 1: High and Low Version Fund Pools - The high version fund pool primarily serves large multinational corporations with higher thresholds, larger fund transfer limits, and greater convenience, having been piloted in Beijing and Shenzhen since March 2021 and expanded to 10 regions by the end of 2024 [2] - The low version fund pool has a lower threshold, allowing more companies to participate, with reduced fund transfer limits and convenience to mitigate cross-border fund flow risks, piloted in Beijing and Guangdong since May 2023 [2] Group 2: Policy Framework and Management - The draft proposes to promote the relatively mature low version fund pool policy nationwide, establishing a unified management framework for cross-border fund pools, facilitating the transition from existing pools to the low version [2] - The management of cross-border fund flows will be based on the equity of fund pool member enterprises, implementing dual macro-prudential management for cross-border fund flows, with adjustments made as necessary for counter-cyclical management [3] Group 3: Simplification and Supervision - The low version fund pool will have a unified "one-window" approach for business processing, simplifying the application and approval processes, and delegating certain business approvals to banks [3] - Local foreign exchange management bureaus and the People's Bank of China are required to fulfill their regulatory responsibilities, enhancing statistical monitoring and risk assessment to effectively prevent cross-border fund flow risks [3]

Core Insights - The establishment of the first cross-border capital centralized operation center in Danzhou marks a significant breakthrough in Hainan's free trade port's cross-border financial innovation [2][3] - Yancheng Technology (Hainan) Co., Ltd. is the first company in Danzhou to be approved for this qualification, contributing to the growth of cross-border financial services in the region [2] Group 1 - The Danzhou municipal government has formed a special investment promotion team to engage with large state-owned enterprises and quality private enterprises, creating a comprehensive service system for policy promotion, demand matching, and qualification application [2][3] - The newly approved Yancheng Technology will leverage its cross-border capital centralized operation center qualification to achieve global capital management, significantly reducing financial costs and enhancing capital utilization efficiency [2][3] Group 2 - As of now, there are four recognized cross-border capital centralized operation centers in Hainan's free trade port, with the first batch of approvals completed by the provincial financial bureau in May [3] - Establishing a cross-border capital centralized operation center in Hainan allows enterprises to utilize domestic market resources for financing, foreign exchange, and asset management, thereby lowering capital costs and improving management efficiency [3]

Group 1 - The establishment of the first batch of cross-border capital centralized operation centers in Hainan Free Trade Port is a significant step in enhancing global capital management capabilities for enterprises [1] - Hainan Natural Rubber Industry Group Co., Ltd. and Shandong Gold Group (Hainan) International Trade Co., Ltd. have been recognized as the first cross-border capital centralized operation centers [1] - The cross-border capital centralized operation centers are independent legal entities responsible for managing the domestic and foreign currency funds of multinational companies [1] Group 2 - Setting up a cross-border capital centralized operation center in Hainan allows enterprises to leverage domestic market resources for financing, foreign exchange, and asset management, thereby reducing capital costs [2] - The centralized operation can lower management and labor costs while addressing cross-border information, time, and efficiency gaps, enabling enterprises to manage global funds effectively [2] - The launch of the first cross-border capital operation centers promotes the opening up of Hainan's financial sector and facilitates the free and convenient flow of cross-border capital [2]