Recently, the People’s Bank of China and the State Administration of Foreign Exchange issued a notice expanding the integrated RMB and foreign-currency cash pooling scheme for multinational corporations from select pilot regions to nationwide implementation.
Previously, RMB and foreign-currency cash pools were regulated under separate systems, creating currency barriers and redundant accounts. Multinational companies often had to file complex applications and wait days—or even longer—to convert funds between RMB and foreign currencies.
Under the new policy, Chinese subsidiaries can independently manage cross-border funds within quotas approved by the People’s Bank of China, significantly easing domestic fund allocation constraints. This reform allows China operations to play a more active role in regional and cross-border treasury management, risk control, and strategic capital allocation, shifting them from a traditional “cost center” to an emerging decision-making hub.
Source: People’s Daily, January 29, 2026
https://world.people.com.cn/n1/2026/0129/c1002-40654876.html