On August 17, the People’s Bank of China together with the State Administration of Foreign Exchange announced that the cross‑border local‑and‑foreign‑currency capital pooling service for multinational corporations would be expanded from regional pilots to nationwide implementation. The new regulation will formally take effect on September 14 and benefit a broader range of large‑, medium‑ and small‑sized multinational enterprises. Under the policy, multinationals can set up domestic capital pools to aggregate local and foreign‑currency funds from group affiliates both at home and abroad, and conduct unified cross‑border fund transfers, cutting operating costs caused by scattered multi‑account management.

Previously, the scheme only ran as regional pilots with relatively high access thresholds, making it hard for small‑and‑medium multinationals to participate. The nationwide roll‑out lowers qualification requirements, enabling more mid‑sized overseas‑oriented enterprises to join. Cross‑border fund transfer procedures are streamlined, currency‑exchange steps are reduced, and corporations gain better tools to hedge exchange‑rate volatility risks. Enterprises can flexibly allocate cash flow at home and abroad to support overseas investment, international procurement and offshore‑subsidiary operations.

Market observers regard this policy as an important measure advancing trade‑and‑investment facilitation in China. It does not alter existing frameworks for external‑debt and cross‑border‑capital supervision. It improves corporate capital turnover efficiency under controllable risk conditions. Manufacturing, internet‑trade and other companies with extensive overseas layouts will see notable improvements in group‑fund usage efficiency. The reform further optimizes the business environment, stabilizes foreign‑investment expectations toward China, and supports domestic enterprises to carry out global‑scale operations more smoothly.