Two departments: Promote the integrated treasury services for multinational companies in both local and foreign currencies nationwide.

On December 26, the People's Bank of China and the State Administration of Foreign Exchange jointly issued a notice regarding the integration of onshore and offshore currency fund pools for multinational corporations. The notice aims to promote the integration of onshore and offshore currency fund pools for multinational corporations nationwide. The content of the notice includes: - Establishing a policy framework for the integration of onshore and offshore currency fund pools. The integration of onshore and offshore currency fund pool operations will be centrally managed, and enterprises are encouraged to conduct fund pool operations in their local currency. It is also specified that local branches of the State Administration of Foreign Exchange will act as a "single window" for enterprises to handle fund pool operations registration to reduce operating costs. - Facilitating the cross-border transfer and allocation of funds for multinational corporations. Setting limits for external debt and overseas loans linked to the equity of fund pool member companies to support the autonomous and efficient allocation of funds within the limits for multinational corporations. - Improving the supervision and management of fund pool operations. Clearly defining the norms for fund pool operations for multinational corporations and collaborating banks, requiring local branches of the People's Bank of China and the State Administration of Foreign Exchange to enhance statistical monitoring, conduct off-site inspections and on-site checks to effectively prevent cross-border fund flow risks. In the next steps, the People's Bank of China and the State Administration of Foreign Exchange will continue to optimize cross-border fund management policies for multinational corporations, enhance the facilitation of cross-border trade and investment, and support the high-quality development of financial services for the real economy.