The People's Bank of China and the State Administration of Foreign Exchange have extended nationwide the framework for centralized cross-border management of multinational companies’ renminbi and foreign currency funds, effective Sept. 14, 2026. The expansion broadens access for small and midsize multinational groups, with potentially lower eligibility thresholds for lead companies registered in pilot free trade zones. Multinationals may centralize member companies’ external debt and overseas lending quotas, determine their own pooling ratios and manage renminbi and foreign currency through a single account. The framework supports group-level allocation while allowing flexible use by individual members and encourages the use of renminbi. Registration will be handled through a single window at the lead company’s local foreign exchange branch, while partner banks may process certain amendments. The rules also establish operating standards and ongoing supervisory requirements for cross-border capital flow risks.
Central Bank of the Republic of China2026-08-14
People's Bank of China and State Administration of Foreign Exchange expand multinational cross-border cash pooling nationwide
The People's Bank of China and the State Administration of Foreign Exchange have expanded multinational renminbi and foreign currency cash pooling nationwide from Sept. 14, 2026. The framework broadens access, enables centralized management through one account and simplifies registration while retaining cross-border capital flow controls.