The People’s Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) will expand a pilot program for centralized cross-border cash management by multinational companies nationwide under a new notice taking effect on September 14, 2026. The policy covers both Chinese companies operating overseas and foreign multinationals operating in China, allowing them to more efficiently pool, allocate, and manage domestic and overseas funds.
The new rules are designed to facilitate cross-border fund management, particularly for small and mid-sized multinational companies. Companies will be allowed to consolidate members’ external debt and overseas lending quotas, determine their own fund-pooling ratios, and manage both RMB and foreign-currency funds through a single account. Companies registered in free-trade zones will face lower eligibility thresholds.
According to analyst Pang Ming, allowing multinational companies to centrally manage domestic and overseas RMB and foreign-currency funds can reduce liquidity-management costs. Importantly, using RMB will give companies greater flexibility in managing cross-border funds, highlighting China’s push to expand the international use of its currency.
Source: Xinhua, August 14, 2026
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