The “Notice Concerning Matters Relating to the Centralized Operation of Multinational Corporations' Local and Foreign Currency Cross-border Capital Operations” comes into effect today. The New Deal extends the pilot policy for the centralized operation of multinational companies' local and foreign currency cross-border capital to the whole country, benefiting more business entities; allows multinational companies to independently determine the collection ratio and use the same account to manage local and foreign currency funds, achieve overall allocation at the group level and flexible use at the member enterprise level, and encourages priority use of local currency to carry out business.

The “Notice Concerning Matters Relating to the Centralized Operation of Multinational Corporations' Local and Foreign Currency Cross-border Capital Operations” comes into effect today. The New Deal extends the pilot policy for the centralized operation of multinational companies' local and foreign currency cross-border capital to the whole country, benefiting more business entities; allows multinational companies to independently determine the collection ratio and use the same account to manage local and foreign currency funds, achieve overall allocation at the group level and flexible use at the member enterprise level, and encourages priority use of local currency to carry out business.