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CHINA PRESS: China To Optimize Currency Management For Multinationals

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

Beijing will optimise a currency management pilot programme for international firms in China, the country’s central bank has announced. Measures include lowering corporate financing costs, simplifying cross-border payment and receipt processes, and further supporting the handling of funds between main domestic accounts and overseas entities. The pilot service has expanded to 10 provinces since starting in Beijing and Shenzhen in 2021, Securities Daily noted.

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Beijing will optimise a currency management pilot programme for international firms in China, the country’s central bank has announced. Measures include lowering corporate financing costs, simplifying cross-border payment and receipt processes, and further supporting the handling of funds between main domestic accounts and overseas entities. The pilot service has expanded to 10 provinces since starting in Beijing and Shenzhen in 2021, Securities Daily noted.