China eases cross-border cash-pooling restrictions
Beijing ups the amount global firms can pool in Shanghai FTZ
China has made it easier for foreign companies operating in the country to transfer money onshore, paving the way, some say, for them to take advantage of the spread between its dual exchange rates.
In a statement on Wednesday (September 23), the People's Bank of China (PBoC) said it had introduced a fivefold raise in the maximum amount of renminbi that companies are allowed to deposit onshore for cash-pooling purposes, while making it easier for firms to use the mechanism.
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