Beijing, March 12 (Xinhua) - China's monetary authorities announced on Friday the launch of a cash fuel pilot service for multinational companies that make up national currency management and Foreign to facilitate the use of cross-border capital.

The pilot program will be launched in the capital of the Beijing country and the Southern Economic Powerhouse, and will serve large multinational companies with relatively high credit ratings, according to the Bank Popular from China (PBOC) and state foreigners administration.

The movement aims to advance in the construction of Guangdong-Hong Kong-Macao Greater Bay Area and the pilot's free trade area of ​​Beijing, support the construction of A superior-level economy and improves the capacity of financial services to serve the real economy, the PBOC said in a statement.

The cash sale service will unify national and foreign currency management policies and will allow multinationals to buy foreign currency at will within a certain limit, he said, pointing out That the purchased funds can be deposited in the national primary account for external payment.

The pilot program will also implement a two-way macro-prudential management to improve the autonomy and capital efficiency of cross-border financing based on a constant operation and Prudent, further facilitate the transfer and use of funds. and improve operational and postoperative supervision.

Based on the performance of the pilot program, the authorities will improve the management framework of these services to strengthen cross-border the facilitation of trade and investment, create a better environment Business and promotes solid business development related to abroad, said the PBOC. Enditem

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