The People's Bank of China and the State Administration of Foreign Exchange are promoting the centralized operation of domestic and foreign currency cross-border funds by multinational corporations nationwide

The People's Bank of China and the State Administration of Foreign Exchange have issued a notice on matters related to the centralized operation of domestic and foreign currency funds by multinational corporations, deciding to promote the centralized operation of domestic and foreign currency funds by multinational corporations nationwide. The notice specifies that financial institutions, local government financing platform companies, and real estate enterprises are not allowed to participate, except for financial companies as the sponsoring enterprises; The total number of domestic and foreign member enterprises of a multinational corporation shall not be less than 3. The total international balance of payments in domestic and foreign currencies of domestic member enterprises in the previous year shall not be less than the equivalent of 700 million yuan, or the total operating income of domestic member enterprises in the previous year shall not be less than 1 billion yuan and that of overseas member enterprises shall not be less than the equivalent of 200 million yuan; If the host enterprise is registered in the pilot free trade zone, the above threshold will be halved. The notice will come into effect on August 14, 2026.