China's cross-border RMB pooling nationwide: Update
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.
The People’s Bank of China (PBOC) announced on June 11 it will allow multinationals to pool renminbi cross-border for Chinese entities throughout the country. The regulator has not yet announced when the effective date or detailed requirements of the new rules.
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