The People's Bank of China and the State Administration of Foreign Exchange issued a notice regarding the integrated fund pool business of multinational corporations in both domestic and foreign currencies

36Kr learned that the People's Bank of China and the State Administration of Foreign Exchange issued a notice regarding the integrated fund pool business of multinational corporations in both domestic and foreign currencies. The notice mentioned that in order to further facilitate the collection and use of funds by multinational corporate groups, deepen high-level financial openness, and support the high-quality development of the real economy, the People's Bank of China and the State Administration of Foreign Exchange decided to promote the integrated fund pool business of multinational corporations nationwide based on the summary of pilot experiences in some regions. Financial institutions, local government financing platform companies, and real estate enterprises are not allowed to participate in the fund pool business, except for financial companies as the sponsoring enterprises