ecns [expanded by feedex.net]
ecns
China relaxes control on RMB cash inflow for multinationals
http://www.ecns.cn/business/2015/09-23/182349.shtml
Sep 23rd 2015, 11:16
China's central bank on Wednesday raised the ceiling on cross-border renminbi (RMB) fund flows for multinationals via two-way cross-border RMB cash pooling and lowered the threshold for participation in the business.
The cap on the net inflow was raised to 50 percent of the total shareholders' equity in the cash pool, according to a statement of the People's Bank of China (PBOC). The initial ceiling for inflow was 10 percent and there is no cap on outflow.
The two-way cross-border RMB cash pooling allows multinationals to more conveniently allocate capital between group companies, enhancing cash management efficiency and cuts financing costs.
China introduced cash pooling in the Shanghai Free Trade Zone in 2013 and promoted it nationwide in 2014.
The PBOC also lowered some criteria for companies to participate in an RMB cash pool. Chinese and overseas group companies need only have been operational for one year, and their revenue requirements were lowered to 1 billion yuan (around 160 million U.S. dollars) and 200 million yuan respectively.
In addition, multinationals can choose 3 banks to perform the business for them, up from one bank in the previous rules.
China FDI inflow surges 22 pct in August
China to see steady FDI inflow: official
Hot money inflow too hot to handle
China's FDI inflow up 3.4 pct in April
FDI inflow falls as economy cools
Li: Blasts must bring harsh penalty
Chinese president arrives in Seattle for first U.S. state visit
Chinese president lands in Seattle, kicking off U.S. state visit
Fewer smokers support Beijing smoking ban: survey
Xi: military adventure 'never crosses our mind'
877 investigated for corruption in financial sector
Xi urges better public security management
Xi calls on China, U.S. to enhance local-level cooperation
Pornography crackdown protects children
Three prosecuted for killing panda in SW China
选择其他平台 >>
Share
You are receiving this email because you subscribed to this feed at https://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt
No comments:
Post a Comment