Discussion on Pilot Cash Pooling Program Integrating Domestic and Foreign Currency Management for Multinationals

With the steady progress of China's highlevel opening-up and the faster pace of Chinese enterprises going global in recent years,demand for improved facilitation of cross-border funds has been on the rise.In March 2021,the People's Bank of China(PBOC)and the State Administration of Foreign Exchange(SAFE)launched the first pilot cash pooling program integrating domestic and foreign currency management for multinational corporations in Beijing and Shenzhen.