The People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) have expanded the cross-border multi-currency fund pool pilot program to Xiamen and 15 other regions, enabling multinational corporations to optimize cross-border capital management. Key policies include allowing companies to autonomously determine the concentration ratios for foreign debt and overseas loans under macro-prudential principles, facilitating centralized domestic and foreign currency payments for overseas subsidiaries via a master account, streamlining RMB cross-border transactions, and permitting banks to directly handle capital account adjustments unrelated to foreign debt or loan quotas. On March 21, Bank of China Xiamen Branch successfully processed the city's first transaction under the new pilot framework, supported by SAFE's Xiamen branch.
