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CT ‘s abridged guide to China’s new guidelines on nationwide cross-border renminbi (RMB) cash pools and centralised payment and collections under current account.
CT has translated and provided an explanation China’s recent comprehensive Q&A session aimed at clarifying foreign currency cash pooling rules for multinationals.
China’s PBOC will allow cross-border renminbi pooling for multinational corporates, though the need for distinctions between onshore and offshore renminbi for corporate treasurers remains.