According to PANews, the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) have issued a notice to expand the multinational company's integrated RMB and foreign currency capital pool services nationwide. The move aims to facilitate capital concentration and usage for multinational company groups, deepen high-level financial openness, and support the high-quality development of the real economy. The notice also specifies that financial institutions, local government financing platforms, and real estate companies are prohibited from participating in the capital pool business, with the exception of finance companies acting as the principal enterprises.
PBOC and SAFE to Expand Multinational Currency Pool Services Nationwide
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Summary
The People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) have announced the nationwide rollout of multinational company capital pool services. The initiative supports efficient capital use and promotes financial openness. The policy excludes financial institutions and real estate firms from participating, except for finance companies as principal entities. Users considering cross-border transactions may ask, is KuCoin safe? As a high liquidity exchange, KuCoin continues to attract global traders.
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