PBOC: Establish a Framework for a Unified Foreign Exchange Fund Pool Policy

　　Glon Huang July 25th | 《China People's Bank》 of the State Administration of Foreign Exchange (SAFF) published the Draft Rules for Cross-Border Capital Operations of Multinational Companies in China, seeking public comments. The draft rules propose establishing a framework for a unified foreign exchange fund pool policy. The low-version fund pool will integrate cross-border foreign exchange and RMB funds into a single management system, taking into account existing foreign exchange and RMB funds pools. New and existing foreign currency funds pool businesses will be processed in accordance with the low-version fund pool regulations. For existing RMB funds pool businesses, considering factors such as market entity willingness, management approaches, etc., it is difficult to directly integrate them into the new system. Therefore, the government supports enterprises' self-choice and encourages them to transition to the low-version fund pool.